Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h +0.002%

Price spread now: Extended against BloFin+0.010%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1251.253% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.010%, 7d avg −0.027%

Together, before fees−0.111%+ Points / potential airdropExtended: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Extended is 0.037% dearer against BloFin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin STABLE-USDT	0.02431	0.0091	pay 0.0046% / 4h	1h 08m	$112K	$20K	75x
Short	Extended STABLE-USD	0.02431	0.0104	get 0.0013% / 1h	8m 44s	$11K	$211K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee ExtendedbpOrdersPrice spread, now +0.010%Rate

Funding earned: $2.67
Price spread: +0.010% → −0.027%: $3.71
Slippage, 4 orders: −$108.3
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$118.92
Costs to cover: 1.253%
Break-even: 319.1 days

Slippage from BloFin: live order book, 27 min ago; Extended: live order book, 35 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 BloFin live order book, 27 min ago	4.11 bp	23.0 bp −$23	68.8 bp −$688	doesn't fit	doesn't fit
Sell Extended live order book, 35 min ago	5.15 bp	38.0 bp −$38	354.0 bp −$3,540	doesn't fit	doesn't fit

STABLE on 15 exchanges

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 STABLE-USDTlong	+0.0091%	4h	0.02431	long leg	$112K	$20K	75x
Lighter STABLE	+0.0096%	1h	0.02444	+0.543%	$112K	$10K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02430	−0.029%	$852K	$141K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02431	+0.005%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02431	−0.005%	$2.5M	$2.5M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02432	+0.049%	$1.5M	$760K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02435	+0.165%	$210K	$399K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02432	+0.041%	$181K	$47K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02432	+0.041%	$602K	$152K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02438	+0.288%	$182K	$27K	30x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02432	+0.041%	$281K	$83K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02433	+0.082%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02432	+0.037%	$143K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02434	+0.123%	$1K	$1.0M	20x	as long as short
Extended STABLE-USDshort	+0.0104%	1h	0.02431	+0.010%	$11K	$211K	10x