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−0.325%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$204as in the Funding arb table

Net, price: spread back to 7d avg − costs−$220as in the Price arb table

costs, in and out, $10k−$1971.971% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 4 days (all we have)+0.180%+$18 · spread now −0.325%, 7d avg −0.091%

Together, before fees+0.106%+ Points / potential airdropExtended: Active · farm board+$11 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 0.234% cheaper against Bitget than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IOUSDT	0.1514	0.0100	pay 0.0050% / 4h	2h 26m	$1.3M	$1.2M	50x
Short	Extended IO-USD	0.1509	0.0104	get 0.0013% / 1h	26m 50s	$5K	$171K	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 −0.325%Rate

Funding earned: $0.84
Price spread: −0.325% → −0.091%: −$23.42
Slippage, 4 orders: −$180.06
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$219.64
Costs to cover: 1.971%
Break-even: 1837.4 days

Slippage from Bitget: live order book, 5 min ago; Extended: live order book, 59 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, 5 min ago	6.63 bp	33.0 bp −$33	266.6 bp −$2,666	doesn't fit	doesn't fit
Sell Extended live order book, 59 min ago	7.30 bp	55.3 bp −$55	doesn't fit	doesn't fit	doesn't fit

IO 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 IO/USDC PERP	−0.0157%	1h	0.1506	−0.528%	$2K	$102	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1513	−0.066%	$1.0M	$393K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1510	−0.276%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1514	+0.005%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1513	−0.066%	$1.1M	$866K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1513	−0.066%	$231K	$542K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1513	−0.066%	$1.2M	$239K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1510	−0.264%	$403K	$654K	50x	as long as short
Bitget IOUSDTlong	+0.0100%	4h	0.1514	long leg	$1.3M	$1.2M	50x
BingX IO-USDT	+0.0100%	4h	0.1514	0.000%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1506	−0.500%	$30K	$5K	—	as long as short
Extended IO-USDshort	+0.0104%	1h	0.1509	−0.325%	$5K	$171K	5x
BloFin IO-USDT	+0.0159%	4h	0.1513	−0.066%	$192K	$30K	50x	as long as short
Kraken Futures PF_IOUSD	+0.5435%	1h	0.1513	−0.092%	$39K	$21K	10x	as long as short