Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%

Price spread now: Extended against OKX−0.018%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now −0.018%, 7d avg −0.039%

Together, before fees−0.102%+ Points / potential airdropExtended: Active · farm board−$10 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% dearer against OKX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX COIN-USDT-SWAP	196.74	0	get 0.0000% / 8h	3h 40m	$3.0M	$4.6M	20x
Short	Extended COIN_24_5-USD	196.70	0	get 0.0000% / 1h	40m 28s	$117K	$689K	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 −0.018%Rate

Funding earned: $0
Price spread: −0.018% → −0.039%: $2.06
Slippage, 4 orders: −$26.92
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$39.86
Costs to cover: 0.419%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Extended: live order book, 12 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, 2 min ago	1.27 bp	12.2 bp −$12	22.0 bp −$220	doesn't fit	doesn't fit
Sell Extended live order book, 12 min ago	1.01 bp	8.9 bp −$9	76.6 bp −$766	doesn't fit	doesn't fit

COIN on 26 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
Bitget COINUSDT	−0.0687%	8h	196.84	+0.051%	$6.3M	$10.4M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	196.82	+0.041%	$43K	$48K	30x	as long as short
Gate COIN_USDT	−0.0226%	8h	196.82	+0.041%	$1.2M	$7.3M	50x	as long as short
Vest COIN-USD-PERP	−0.0110%	1h	196.22	−0.264%	—	$266K	25x	as long as short
Aster COINUSDT	0.0000%	8h	196.78	+0.022%	$343K	$890K	20x	as long as short
Extended COIN_24_5-USDshort	0.0000%	1h	196.70	−0.018%	$117K	$689K	10x
Binance COINUSDT	0.0000%	8h	196.78	+0.018%	$14.7M	$79.9M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	196.76	+0.010%	$4.8M	$6.0M	50x	as long as short
OKX COIN-USDT-SWAPlong	0.0000%	8h	196.74	long leg	$3.0M	$4.6M	20x
Variational Omni COIN	0.0000%	8h	196.74	0.000%	$684K	$939K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	197.00	+0.132%	$12K	$2.4M	10x	as long as short
QFEX COIN-USD	+0.0020%	1h	196.74	0.000%	$1.3M	$3.2M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	196.66	−0.041%	$451K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	196.98	+0.122%	$15K	$55K	5x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	196.70	−0.020%	$15.4M	$13.6M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	196.60	−0.071%	$134K	$1.2M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	196.72	−0.010%	$81	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	196.54	−0.102%	$350K	$2.7M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	196.71	−0.015%	$992K	$143K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	196.98	+0.122%	$89K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	196.66	−0.041%	$569	$4K	10x	as long as short
Lighter COIN	+0.0104%	1h	196.68	−0.028%	$340K	$2.0M	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	196.67	−0.035%	$116	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.79	+0.025%	$188K	$393K	20x	as long as short
Phoenix COIN	+0.0122%	1h	196.84	+0.051%	$4K	$283K	10x	as long as short
edgeX COINUSDC	+0.0784%	4h	196.93	+0.099%	$51K	$294K	10x	as long as short