Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Bybit−0.060%7-day average +0.162% · you buy dearer than you sell

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$186as in the Price arb table

costs, in and out, $10k−$1641.637% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.236%+$24 on $10k

Price spread, last 4 days (all we have)+0.355%+$36 · spread now −0.060%, 7d avg +0.162%

Together, before fees+0.591%+ Points / potential airdropExtended: Active · farm board+$59 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 0.222% cheaper against Bybit than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of +0.162%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HUSDT	0.06684	0.0100	pay 0.0050% / 4h	47m 26s	$7.3M	$4.9M	13x
Short	Extended H-USD	0.06680	0.0104	get 0.0013% / 1h	47m 26s	$10K	$206K	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 −0.060%Rate

Funding earned: $0.84
Price spread: −0.060% → +0.162%: −$22.21
Slippage, 4 orders: −$147.7
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$185.07
Costs to cover: 1.637%
Break-even: 1549.3 days

Slippage from Bybit: live order book, 4 min ago; Extended: live order book, 56 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, 4 min ago	3.75 bp	25.1 bp −$25	119.2 bp −$1,192	doesn't fit	doesn't fit
Sell Extended live order book, 56 min ago	2.23 bp	41.6 bp −$42	doesn't fit	doesn't fit	doesn't fit

H on 14 exchanges

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
Injective H/USDC PERP	+0.0033%	1h	0.06250	−6.499%	$1K	$1	5.5x	as long as short
BloFin H-USDT	+0.0092%	4h	0.06686	+0.024%	$584K	$95K	25x	as long as short
Aster HUSDT	+0.0100%	4h	0.06681	−0.048%	$105K	$56K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06690	+0.084%	$14.1M	$9.8M	10x	as long as short
Bybit HUSDTlong	+0.0100%	4h	0.06684	long leg	$7.3M	$4.9M	13x
Gate H_USDT	+0.0100%	4h	0.06682	−0.036%	$2.8M	$1.5M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06690	+0.084%	$6.0M	$921K	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06691	+0.099%	$1.6M	$10.2M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06684	−0.006%	$1.7M	$370K	4x	as long as short
BingX H-USDT	+0.0100%	4h	0.06677	−0.111%	—	$2.7M	—	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni H	+0.0100%	4h	0.06671	−0.197%	$9K	$2K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06686	+0.024%	$1.1M	$393K	10x	as long as short
Extended H-USDshort	+0.0104%	1h	0.06680	−0.060%	$10K	$206K	5x
OKX H-USDT-SWAP	+0.0293%	4h	0.06695	+0.159%	$1.7M	$5.7M	10x	as long as short