Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bybit against Extended−0.046%7-day average −0.169% · you buy dearer than you sell

Net, funding: paid 7d − costs−$215as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1901.899% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.253%−$25 on $10k

Price spread, last 4 days (all we have)−0.174%−$17 · spread now −0.046%, 7d avg −0.169%

Together, before fees−0.427%+ Points / potential airdropExtended: Active · farm board−$43 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 0.123% dearer against Extended than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.169%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended H-USD	0.06782	0.0104	pay 0.0013% / 1h	52m 40s	$9K	$101K	5x
Short	Bybit HUSDT	0.06779	0.0100	get 0.0050% / 4h	3h 52m	$7.5M	$4.9M	13x

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

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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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$0.84
Price spread: −0.046% → −0.169%: $12.33
Slippage, 4 orders: −$173.86
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$178.37
Costs to cover: 1.899%
Break-even: never at this rate

Slippage from Extended: live order book, 50 min ago; Bybit: live order book, 5 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, 50 min ago	2.25 bp	64.2 bp −$64	530.9 bp −$5,309	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.75 bp	38.3 bp −$38	157.5 bp −$1,575	doesn't fit	doesn't fit

H on 14 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
Injective H/USDC PERP	+0.0033%	1h	0.06250	−7.846%	$1K	$1	5.5x	as long as short
Aster HUSDT	+0.0100%	4h	0.06784	+0.034%	$111K	$54K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06784	+0.028%	$14.5M	$11.1M	10x	as long as short
Bybit HUSDTshort	+0.0100%	4h	0.06779	−0.046%	$7.5M	$4.9M	13x
OKX H-USDT-SWAP	+0.0100%	4h	0.06790	+0.116%	$1.8M	$6.2M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06780	−0.031%	$2.8M	$1.8M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06785	+0.043%	$6.0M	$1.1M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06785	+0.043%	$1.6M	$10.0M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06775	−0.105%	$1.7M	$446K	4x	as long as short
BingX H-USDT	+0.0100%	4h	0.06783	+0.013%	—	$2.7M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni H	+0.0100%	4h	0.06709	−1.073%	$7K	$9K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06711	−1.045%	$1.1M	$423K	10x	as long as short
Extended H-USDlong	+0.0104%	1h	0.06782	long leg	$9K	$101K	5x
BloFin H-USDT	+0.0114%	4h	0.06788	+0.087%	$580K	$110K	25x	as long as short