Funding arb · Price arb /

IO

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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 MEXC+0.187%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$155as in the Price arb table

costs, in and out, $10k−$1701.700% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)−0.225%−$23 · spread now +0.187%, 7d avg +0.033%

Together, before fees−0.172%+ Points / potential airdropExtended: Active · farm board−$17 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 0.154% dearer against MEXC than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC IO_USDT	0.1505	0.0100	pay 0.0050% / 4h	2h 01m	$1.1M	$240K	125x
Short	Extended IO-USD	0.1508	0.0104	get 0.0013% / 1h	1m 12s	$5K	$171K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against MEXC. 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 MEXCbpFee ExtendedbpOrdersPrice spread, now +0.187%Rate

Funding earned: $0.84
Price spread: +0.187% → +0.033%: $15.37
Slippage, 4 orders: −$160.96
Fee MEXC: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$153.75
Costs to cover: 1.700%
Break-even: 1288.2 days

Slippage from MEXC: live order book, 5 min ago; Extended: live order book, 20 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 MEXC live order book, 5 min ago	3.32 bp	18.7 bp −$19	187.9 bp −$1,879	297.8 bp −$29.8K	doesn't fit
Sell Extended live order book, 20 min ago	5.28 bp	79.0 bp −$79	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	0.1516	+0.731%	$2K	$103	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1507	+0.166%	$1.0M	$389K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1508	+0.172%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1508	+0.199%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1505	0.000%	$1.1M	$867K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1508	+0.206%	$231K	$542K	50x	as long as short
MEXC IO_USDTlong	+0.0100%	4h	0.1505	long leg	$1.1M	$240K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1507	+0.133%	$401K	$654K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1507	+0.133%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1506	+0.066%	—	$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	0.1505	−0.004%	$30K	$5K	—	as long as short
Extended IO-USDshort	+0.0104%	1h	0.1508	+0.187%	$5K	$171K	5x
BloFin IO-USDT	+0.0106%	4h	0.1509	+0.266%	$193K	$30K	50x	as long as short
Kraken Futures PF_IOUSD	+0.5450%	1h	0.1509	+0.239%	$39K	$21K	10x	as long as short