Funding arb · Price arb /

SAPIEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h +0.006%

Price spread now: BloFin against Extended+0.047%7-day average — · you sell dearer than you buy

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

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

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

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

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

The price spread pays, funding is against you. BloFin is 0.047% dearer against Extended than usual: you sell high and buy low (spread +0.047% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.4 days. At the pace of the last 7 days (−0.014% in total) that is about 23 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SAPIEN-USD	0.07793	0.0104	pay 0.0013% / 1h	48m 37s	$3K	$144K	5x
Short	BloFin SAPIEN-USDT	0.07797	0.0069	get 0.0034% / 4h	3h 48m	$89K	$15K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$7.38
Price spread: +0.047% → 0.000%: $4.67
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$19.72
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 22 min ago; BloFin: no order-book sample. 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 live order book, 22 min ago	5.33 bp	62.2 bp −$62	563.1 bp −$5,631	doesn't fit	doesn't fit
Sell BloFin no order-book sample	—	—	—	—	—

BloFin: 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.

SAPIEN on 12 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
BloFin SAPIEN-USDTshort	+0.0069%	4h	0.07797	+0.047%	$89K	$15K	25x
Aster SAPIENUSDT	+0.0100%	4h	0.07788	−0.065%	$45K	$4K	5x	as long as short
Binance SAPIENUSDT	+0.0100%	4h	0.07795	+0.021%	$1.9M	$1.0M	25x	as long as short
Bybit SAPIENUSDT	+0.0100%	4h	0.07804	+0.136%	$500K	$100K	20x	as long as short
OKX SAPIEN-USDT-SWAP	+0.0100%	4h	0.07799	+0.072%	$164K	$80K	10x	as long as short
Gate SAPIEN_USDT	+0.0100%	4h	0.07793	−0.005%	$867K	$63K	50x	as long as short
MEXC SAPIEN_USDT	+0.0100%	4h	0.07794	+0.008%	$9.2M	$103K	50x	as long as short
KuCoin SAPIENUSDTM	+0.0100%	4h	0.07793	−0.005%	$702K	$2.9M	30x	as long as short
Bitget SAPIENUSDT	+0.0100%	4h	0.07793	−0.005%	$607K	$247K	25x	as long as short
BingX SAPIEN-USDT	+0.0100%	4h	0.07801	+0.098%	—	$6.5M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAPIEN	+0.0100%	4h	0.07803	+0.127%	$9K	$3K	—	as long as short
Extended SAPIEN-USDlong	+0.0104%	1h	0.07793	long leg	$3K	$144K	5x