Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Bitget−0.110%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$990.993% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 4 days (all we have)−0.320%−$32 · spread now −0.110%, 7d avg −0.060%

Together, before fees−0.305%+ Points / potential airdropExtended: Active · farm board−$30 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 0.050% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BASEDUSDT	0.06726	0.0100	pay 0.0050% / 4h	2h 56m	$1.3M	$362K	25x
Short	Extended BASED-USD	0.06719	0.0104	get 0.0013% / 1h	56m 58s	$5K	$226K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bitget. 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 BitgetbpFee ExtendedbpOrdersPrice spread, now −0.110%Rate

Funding earned: $0.84
Price spread: −0.110% → −0.060%: −$4.95
Slippage, 4 orders: −$82.28
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$103.4
Costs to cover: 0.993%
Break-even: 868.6 days

Slippage from Bitget: live order book, 4 min ago; Extended: live order book, 30 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 Bitget live order book, 4 min ago	2.23 bp	25.5 bp −$25	92.3 bp −$923	doesn't fit	doesn't fit
Sell Extended live order book, 30 min ago	1.34 bp	31.3 bp −$31	doesn't fit	doesn't fit	doesn't fit

BASED 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
Aster BASEDUSDT	+0.0100%	4h	0.06719	−0.104%	$28K	$6K	5x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06719	−0.098%	$4.1M	$2.9M	25x	as long as short
Bybit BASEDUSDT	+0.0100%	4h	0.06708	−0.268%	$2.1M	$575K	25x	as long as short
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06710	−0.238%	$2.6M	$3.3M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06717	−0.134%	$534K	$507K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06719	−0.104%	$4.8M	$643K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06715	−0.164%	$566K	$109K	20x	as long as short
Bitget BASEDUSDTlong	+0.0100%	4h	0.06726	long leg	$1.3M	$362K	25x
BingX BASED-USDT	+0.0100%	4h	0.06714	−0.178%	—	$1.6M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06718	−0.125%	$92K	$21K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06729	+0.044%	$93K	$379K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06713	−0.193%	$1K	$790K	20x	as long as short
Extended BASED-USDshort	+0.0104%	1h	0.06719	−0.110%	$5K	$226K	5x
BloFin BASED-USDT	+0.0133%	4h	0.06727	+0.015%	$211K	$37K	25x	as long as short
Orderly PERP_BASED_USDC	+0.0239%	4h	0.06719	−0.104%	$3K	$745	10x	as long as short