Funding arb · Price arb /

LAYER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0015%/8h= +1.6% APRpaid last 24h +0.008%

Price spread now: Extended against BloFin−0.048%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1231.232% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now −0.048%, 7d avg −0.018%

Together, before fees+0.087%+ Points / potential airdropExtended: Active · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.030% cheaper against BloFin than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of −0.018%). If the spread goes back, that is −$3 on $10k: about 6.6 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LAYER-USDT	0.07630	0.0089	pay 0.0045% / 4h	46m 58s	$115K	$16K	50x
Short	Extended LAYER-USD	0.07626	0.0104	get 0.0013% / 1h	46m 58s	$5K	$170K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.048%Rate

Funding earned: $3.14
Price spread: −0.048% → −0.018%: −$2.96
Slippage, 4 orders: −$106.16
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$122.98
Costs to cover: 1.232%
Break-even: 280.9 days

Slippage from BloFin: live order book, 49 min ago; Extended: live order book, 9 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 BloFin live order book, 49 min ago	0.65 bp	19.8 bp −$20	87.1 bp −$871	doesn't fit	doesn't fit
Sell Extended live order book, 9 min ago	5.16 bp	43.9 bp −$44	280.8 bp −$2,808	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	−0.0512%	1h	0.07627	−0.039%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.666%	—	$18K	5.5x	as long as short
BloFin LAYER-USDTlong	+0.0089%	4h	0.07630	long leg	$115K	$16K	50x
Hyperliquid LAYER	+0.0100%	1h	0.07641	+0.151%	$593K	$168K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07631	+0.016%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07628	−0.027%	$2.1M	$2.6M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07627	−0.039%	$715K	$738K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07634	+0.052%	$137K	$46K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07629	−0.013%	$338K	$116K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07632	+0.026%	$1.1M	$168K	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	0.07631	+0.013%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07640	+0.131%	$16K	$191K	50x	as long as short
Extended LAYER-USDshort	+0.0104%	1h	0.07626	−0.048%	$5K	$170K	5x