Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Binance+0.001%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1271.268% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.063%−$6 · spread now +0.001%, 7d avg −0.032%

Together, before fees−0.059%+ Points / potential airdropExtended: Active · farm board−$6 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 0.033% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LAYERUSDT	0.07592	0.0100	pay 0.0050% / 4h	2h 23m	$2.1M	$2.4M	50x
Short	Extended LAYER-USD	0.07593	0.0104	get 0.0013% / 1h	23m 45s	$2K	$210K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Binance. 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 BinancebpFee ExtendedbpOrdersPrice spread, now +0.001%Rate

Funding earned: $0.84
Price spread: +0.001% → −0.032%: $3.28
Slippage, 4 orders: −$111.83
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$122.71
Costs to cover: 1.268%
Break-even: 1029.6 days

Slippage from Binance: live order book, 11 min ago; Extended: live order book, 23 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 Binance live order book, 11 min ago	1.97 bp	17.4 bp −$17	158.5 bp −$1,585	doesn't fit	doesn't fit
Sell Extended live order book, 23 min ago	5.55 bp	42.3 bp −$42	279.1 bp −$2,791	doesn't fit	doesn't fit

LAYER on 13 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
Kraken Futures PF_LAYERUSD	−0.0418%	1h	0.07603	+0.138%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.194%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0042%	4h	0.07588	−0.059%	$113K	$15K	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0086%	4h	0.07586	−0.085%	$710K	$666K	20x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07597	+0.057%	$587K	$165K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07599	+0.088%	$9K	$4K	5x	as long as short
Binance LAYERUSDTlong	+0.0100%	4h	0.07592	long leg	$2.1M	$2.4M	50x
Gate LAYER_USDT	+0.0100%	4h	0.07600	+0.099%	$140K	$41K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07588	−0.059%	$368K	$132K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07592	−0.006%	$1.1M	$112K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDT	+0.0100%	4h	0.07595	+0.034%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07590	−0.032%	$16K	$195K	50x	as long as short
Extended LAYER-USDshort	+0.0104%	1h	0.07593	+0.001%	$2K	$210K	5x