Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

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

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

Net, price: spread back to 7d avg − costs−$185as in the Price arb table

costs, in and out, $10k−$1811.806% of the position

Long on Extended Short on BingX

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)+0.190%+$19 · spread now −0.038%, 7d avg +0.009%

Together, before fees+0.264%+ Points / potential airdropExtended: Active · farm board+$26 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: BingX is 0.047% cheaper against Extended than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IO-USD	0.1522	0.0104	pay 0.0013% / 1h	33m 40s	$1K	$132K	5x
Short	BingX IO-USDT	0.1521	0.0100	get 0.0050% / 4h	1h 33m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$0.84
Price spread: −0.038% → +0.009%: −$4.71
Slippage, 4 orders: −$165.59
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$186.14
Costs to cover: 1.806%
Break-even: never at this rate

Slippage from Extended: live order book, 27 min ago; BingX: live order book, 12 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, 27 min ago	6.27 bp	68.1 bp −$68	511.0 bp −$5,110	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	6.59 bp	29.1 bp −$29	78.9 bp −$789	461.4 bp −$46.1K	598.2 bp −$299.1K

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	−0.0430%	1h	0.1518	−0.235%	$2K	$201	5.5x	as long as short
BloFin IO-USDT	+0.0048%	4h	0.1525	+0.225%	$195K	$40K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1523	+0.120%	$1.0M	$378K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1522	+0.007%	$24K	$49K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1524	+0.159%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1523	+0.094%	$1.1M	$913K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1521	−0.018%	$234K	$560K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1521	−0.038%	$1.2M	$226K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1521	−0.038%	$357K	$659K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1522	+0.028%	$1.3M	$1.2M	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IO-USDTshort	+0.0100%	4h	0.1521	−0.038%	—	$1.3M	—
Variational Omni IO	+0.0100%	4h	0.1517	−0.320%	$33K	$13K	—	as long as short
Extended IO-USDlong	+0.0104%	1h	0.1522	long leg	$1K	$132K	5x
Kraken Futures PF_IOUSD	+2.3386%	1h	0.1519	−0.185%	$39K	$18K	10x	as long as short