Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Binance against Extended+0.009%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$173as in the Funding arb table

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

costs, in and out, $10k−$1731.734% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now +0.009%, 7d avg +0.038%

Together, before fees+0.048%+ Points / potential airdropExtended: Active · farm board+$5 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: Binance is 0.029% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IO-USD	0.1524	0.0104	pay 0.0013% / 1h	7m 11s	$3K	$125K	5x
Short	Binance IOUSDT	0.1525	0.0100	get 0.0050% / 4h	3h 07m	$3.0M	$6.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.009%Rate

Funding earned: −$0.84
Price spread: +0.009% → +0.038%: −$2.87
Slippage, 4 orders: −$158.42
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$177.13
Costs to cover: 1.734%
Break-even: never at this rate

Slippage from Extended: live order book, 64 min ago; Binance: live order book, 1 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, 64 min ago	6.27 bp	70.0 bp −$70	518.0 bp −$5,180	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	3.28 bp	24.6 bp −$25	97.8 bp −$978	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
Hyperliquid IO	+0.0100%	1h	0.1524	−0.012%	$1.0M	$383K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1524	−0.005%	$6K	$32K	5x	as long as short
Binance IOUSDTshort	+0.0100%	4h	0.1525	+0.009%	$3.0M	$6.6M	50x
Bybit IOUSDT	+0.0100%	4h	0.1523	−0.090%	$1.1M	$903K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1522	−0.123%	$241K	$555K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1524	−0.025%	$1.2M	$232K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1522	−0.156%	$362K	$676K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1525	+0.041%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1523	−0.090%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1523	−0.074%	$33K	$8K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USDlong	+0.0104%	1h	0.1524	long leg	$3K	$125K	5x
BloFin IO-USDT	+0.0145%	4h	0.1524	−0.025%	$194K	$32K	50x	as long as short
Injective IO/USDC PERP	+0.0414%	1h	0.1517	−0.484%	$2K	$202	5.5x	as long as short
Kraken Futures PF_IOUSD	+0.0617%	1h	0.1529	+0.302%	$40K	$18K	10x	as long as short