Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.014%

Price spread now: Bybit against Extended−0.131%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.131% cheaper against Extended than usual: you would sell low and buy high, −$13 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended kNOT-USD	0.0005096	0.0104	pay 0.0013% / 1h	21m 50s	$4K	$491	5x
Short	Bybit NOTUSDT	0.0005089	0.0100	get 0.0050% / 4h	2h 21m	$2.1M	$876K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.131%Rate

Funding earned: −$0.84
Price spread: −0.131% → 0.000%: −$13.05
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$29.89
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; Bybit: live order book, 5 min ago. Net counts fees only.

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 Extended no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	2.94 bp	25.6 bp −$26	97.3 bp −$973	doesn't fit	doesn't fit

Extended: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NOT on 15 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
Variational Omni NOT	−0.0216%	4h	0.0005099	+0.059%	$72K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.350%	$1K	$13K	5.5x	as long as short
KuCoin NOTUSDTM	+0.0042%	4h	0.0005089	−0.131%	$466K	$134K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005108	+0.242%	$12K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005100	+0.085%	$372K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005096	−0.001%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005097	+0.026%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDTshort	+0.0100%	4h	0.0005089	−0.131%	$2.1M	$876K	25x
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005092	−0.072%	$639K	$663K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005091	−0.091%	$144K	$81K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005097	+0.026%	$1.3M	$473K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005099	+0.066%	$672K	$408K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005095	−0.013%	—	$8.9M	—	as long as short
Extended kNOT-USDlong	+0.0104%	1h	0.0005096	long leg	$4K	$491	5x
Kraken Futures PF_NOTUSD	+0.0202%	1h	0.0005099	+0.062%	$50K	$10K	10x	as long as short