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: Bybit against Extended−0.199%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs−$176as in the Price arb table

costs, in and out, $10k−$1641.641% of the position

Long on Extended Short on Bybit

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)+0.109%+$11 · spread now −0.199%, 7d avg −0.082%

Together, before fees+0.072%+ Points / potential airdropExtended: Active · farm board+$7 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: Bybit is 0.117% cheaper against Extended than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BASED-USD	0.06721	0.0104	pay 0.0013% / 1h	49m 41s	$5K	$226K	5x
Short	Bybit BASEDUSDT	0.06708	0.0100	get 0.0050% / 4h	2h 49m	$2.1M	$571K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.199%Rate

Funding earned: −$0.84
Price spread: −0.199% → −0.082%: −$11.68
Slippage, 4 orders: −$148.13
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$176.65
Costs to cover: 1.641%
Break-even: never at this rate

Slippage from Extended: live order book, 37 min ago; Bybit: live order book, 2 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 Extended live order book, 37 min ago	1.34 bp	17.3 bp −$17	229.1 bp −$2,291	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	3.73 bp	69.0 bp −$69	885.9 bp −$8,859	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
BloFin BASED-USDT	+0.0097%	4h	0.06729	+0.114%	$210K	$37K	25x	as long as short
Aster BASEDUSDT	+0.0100%	4h	0.06719	−0.038%	$28K	$6K	5x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06722	+0.010%	$4.1M	$2.9M	25x	as long as short
Bybit BASEDUSDTshort	+0.0100%	4h	0.06708	−0.199%	$2.1M	$571K	25x
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06712	−0.139%	$2.6M	$3.3M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06718	−0.050%	$534K	$511K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06721	−0.005%	$4.8M	$643K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06712	−0.139%	$560K	$111K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06730	+0.128%	$1.3M	$358K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06717	−0.065%	—	$1.6M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BASED	+0.0100%	4h	0.06704	−0.258%	$92K	$21K	—	as long as short
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06727	+0.089%	$92K	$388K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06714	−0.110%	$2K	$787K	20x	as long as short
Extended BASED-USDlong	+0.0104%	1h	0.06721	long leg	$5K	$226K	5x
Orderly PERP_BASED_USDC	+0.0261%	4h	0.06720	−0.020%	$3K	$652	10x	as long as short