Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Extended against KuCoin+0.139%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$298as in the Funding arb table

Net, price: spread back to 7d avg − costs−$275as in the Price arb table

costs, in and out, $10k−$2912.915% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 4 days (all we have)−0.153%−$15 · spread now +0.139%, 7d avg −0.027%

Together, before fees−0.219%+ Points / potential airdropExtended: Active · farm board−$22 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 0.166% dearer against KuCoin than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IOUSDTM	0.1515	0.0100	pay 0.0050% / 4h	45m 43s	$389K	$663K	50x
Short	Extended IO-USD	0.1517	0.0104	get 0.0013% / 1h	45m 43s	$5K	$171K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now +0.139%Rate

Funding earned: $0.84
Price spread: +0.139% → −0.027%: $16.6
Slippage, 4 orders: −$274.49
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$274.05
Costs to cover: 2.915%
Break-even: 2290.8 days

Slippage from KuCoin: live order book, 18 min ago; Extended: live order book, 30 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 KuCoin live order book, 18 min ago	6.60 bp	94.0 bp −$94	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 30 min ago	5.62 bp	70.2 bp −$70	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	−0.0159%	1h	0.1521	+0.396%	$2K	$103	5.5x	as long as short
BloFin IO-USDT	+0.0089%	4h	0.1517	+0.132%	$194K	$31K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1517	+0.099%	$1.0M	$387K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1516	+0.092%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1517	+0.148%	$3.0M	$6.5M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1515	0.000%	$1.1M	$876K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1517	+0.125%	$245K	$547K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1515	0.000%	$1.1M	$225K	125x	as long as short
KuCoin IOUSDTMlong	+0.0100%	4h	0.1515	long leg	$389K	$663K	50x
Bitget IOUSDT	+0.0100%	4h	0.1518	+0.198%	$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-USDT	+0.0100%	4h	0.1514	−0.066%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1518	+0.218%	$30K	$5K	—	as long as short
Extended IO-USDshort	+0.0104%	1h	0.1517	+0.139%	$5K	$171K	5x
Kraken Futures PF_IOUSD	+1.2585%	1h	0.1515	+0.029%	$39K	$19K	10x	as long as short