Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Extended against Bybit+0.133%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$1951.953% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.133%, 7d avg +0.084%

Together, before fees+0.024%+ Points / potential airdropExtended: Active · farm board+$2 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 0.049% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BASEDUSDT	0.06794	0.0100	pay 0.0050% / 4h	5m 57s	$2.1M	$593K	25x
Short	Extended BASED-USD	0.06803	0.0104	get 0.0013% / 1h	5m 57s	$5K	$226K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.133%Rate

Funding earned: $0.84
Price spread: +0.133% → +0.084%: $4.88
Slippage, 4 orders: −$179.31
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$189.59
Costs to cover: 1.953%
Break-even: 1586.9 days

Slippage from Bybit: live order book, 1 min ago; Extended: live order book, 6 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 Bybit live order book, 1 min ago	5.89 bp	71.8 bp −$72	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 6 min ago	1.40 bp	38.1 bp −$38	268.9 bp −$2,689	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
Binance BASEDUSDT	+0.0100%	4h	0.06804	+0.154%	$4.2M	$3.0M	25x	as long as short
Bybit BASEDUSDTlong	+0.0100%	4h	0.06794	long leg	$2.1M	$593K	25x
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06796	+0.029%	$2.5M	$3.6M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06796	+0.029%	$541K	$542K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06805	+0.162%	$4.8M	$647K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06796	+0.029%	$569K	$65K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06805	+0.162%	$1.3M	$370K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06800	+0.088%	—	$1.7M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06794	−0.006%	$93K	$21K	—	as long as short
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06810	+0.237%	$99K	$374K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX BASED-USDT	+0.0100%	4h	0.06795	+0.015%	$1K	$830K	20x	as long as short
Extended BASED-USDshort	+0.0104%	1h	0.06803	+0.133%	$5K	$226K	5x
BloFin BASED-USDT	+0.0149%	4h	0.06803	+0.132%	$251K	$41K	25x	as long as short
Aster BASEDUSDT	+0.0259%	4h	0.06799	+0.081%	$29K	$6K	5x	as long as short
Orderly PERP_BASED_USDC	+0.0299%	4h	0.06806	+0.177%	$3K	$652	10x	as long as short