Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Gate+0.237%7-day average −0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$404as in the Funding arb table

Net, price: spread back to 7d avg − costs−$377as in the Price arb table

costs, in and out, $10k−$4054.051% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.306%−$31 · spread now +0.237%, 7d avg −0.047%

Together, before fees−0.292%+ Points / potential airdropExtended: Active · farm board−$29 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.285% dearer against Gate than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LAYER_USDT	0.07692	0.0100	pay 0.0050% / 4h	3h 15m	$137K	$53K	20x
Short	Extended LAYER-USD	0.07710	0.0104	get 0.0013% / 1h	15m 24s	$2K	$176K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GatebpFee ExtendedbpOrdersPrice spread, now +0.237%Rate

Funding earned: $0.84
Price spread: +0.237% → −0.047%: $28.49
Slippage, 4 orders: −$385.05
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$375.72
Costs to cover: 4.051%
Break-even: 3138.0 days

Slippage from Gate: live order book, 50 min ago; Extended: live order book, 56 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Gate live order book, 50 min ago	10.38 bp	226.0 bp −$226	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 56 min ago	3.91 bp	36.5 bp −$37	258.5 bp −$2,585	doesn't fit	doesn't fit

LAYER on 13 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_LAYERUSD	−0.0783%	1h	0.07712	+0.265%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.434%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07727	+0.459%	$601K	$168K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07694	+0.021%	$9K	$3K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07714	+0.286%	$2.1M	$2.5M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07707	+0.195%	$715K	$697K	20x	as long as short
Gate LAYER_USDTlong	+0.0100%	4h	0.07692	long leg	$137K	$53K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07712	+0.260%	$345K	$118K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07710	+0.234%	$1.1M	$167K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07716	+0.312%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07690	−0.026%	$26K	$182K	50x	as long as short
Extended LAYER-USDshort	+0.0104%	1h	0.07710	+0.237%	$2K	$176K	5x
BloFin LAYER-USDT	+0.0131%	4h	0.07712	+0.260%	$114K	$14K	50x	as long as short