Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against OKX−0.108%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1381.381% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.139%+$14 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.108%, 7d avg −0.086%

Together, before fees+0.197%+ Points / potential airdropExtended: Active · farm board+$20 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 0.021% cheaper against OKX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX STABLE-USDT-SWAP	0.02435	0.0100	pay 0.0050% / 4h	2h 31m	$210K	$426K	20x
Short	Extended STABLE-USD	0.02432	0.0104	get 0.0013% / 1h	31m 30s	$12K	$232K	10x

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 −0.108%Rate

Funding earned: $0.84
Price spread: −0.108% → −0.086%: −$2.14
Slippage, 4 orders: −$123.06
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$139.35
Costs to cover: 1.381%
Break-even: 1168.3 days

Slippage from OKX: live order book, 14 min ago; Extended: live order book, 15 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, 14 min ago	4.10 bp	32.3 bp −$32	1312.8 bp −$13.1K	doesn't fit	doesn't fit
Sell Extended live order book, 15 min ago	3.69 bp	38.4 bp −$38	276.5 bp −$2,765	doesn't fit	doesn't fit

STABLE 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
Lighter STABLE	+0.0096%	1h	0.02449	+0.591%	$112K	$6K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02435	−0.004%	$854K	$180K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02437	+0.063%	$18K	$10K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02434	−0.041%	$2.5M	$2.8M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02436	+0.041%	$1.5M	$777K	25x	as long as short
OKX STABLE-USDT-SWAPlong	+0.0100%	4h	0.02435	long leg	$210K	$426K	20x
Gate STABLE_USDT	+0.0100%	4h	0.02436	+0.041%	$174K	$59K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02434	−0.041%	$583K	$161K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02441	+0.246%	$177K	$28K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02436	+0.041%	$281K	$93K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02437	+0.082%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02440	+0.210%	$143K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02435	0.000%	$1K	$911K	20x	as long as short
Extended STABLE-USDshort	+0.0104%	1h	0.02432	−0.108%	$12K	$232K	10x
BloFin STABLE-USDT	+0.0149%	4h	0.02437	+0.082%	$113K	$7K	75x	as long as short