Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against OKX+0.124%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1461.459% of the position

Long on OKX 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)−0.236%−$24 · spread now +0.124%, 7d avg +0.009%

Together, before fees−0.250%+ Points / potential airdropExtended: Active · farm board−$25 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 0.115% dearer against OKX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LAYER-USDT-SWAP	0.07662	0.0100	pay 0.0050% / 4h	3h 02m	$714K	$684K	20x
Short	Extended LAYER-USD	0.07672	0.0104	get 0.0013% / 1h	2m 33s	$3K	$204K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now +0.124%Rate

Funding earned: $0.84
Price spread: +0.124% → +0.009%: $11.51
Slippage, 4 orders: −$130.86
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$133.51
Costs to cover: 1.459%
Break-even: 1119.5 days

Slippage from OKX: live order book, 48 min ago; Extended: live order book, 49 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 OKX live order book, 48 min ago	2.60 bp	31.8 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 49 min ago	4.22 bp	33.0 bp −$33	251.1 bp −$2,511	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	−0.0001%	1h	0.07677	+0.192%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.064%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07688	+0.346%	$596K	$162K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07680	+0.240%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07674	+0.152%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAPlong	+0.0100%	4h	0.07662	long leg	$714K	$684K	20x
Gate LAYER_USDT	+0.0100%	4h	0.07682	+0.261%	$142K	$41K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07674	+0.157%	$374K	$134K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07680	+0.235%	$1.1M	$117K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07674	+0.157%	—	$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	0.07700	+0.496%	$17K	$192K	50x	as long as short
Extended LAYER-USDshort	+0.0104%	1h	0.07672	+0.124%	$3K	$204K	5x
BloFin LAYER-USDT	+0.0155%	4h	0.07678	+0.209%	$114K	$15K	50x	as long as short