Funding arb · Price arb /

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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: Bitget against Extended−0.031%7-day average +0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1311.312% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now −0.031%, 7d avg +0.066%

Together, before fees−0.060%+ 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: Bitget is 0.097% cheaper against Extended than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LAYER-USD	0.07567	0.0104	pay 0.0013% / 1h	51m 17s	$2K	$174K	5x
Short	Bitget LAYERUSDT	0.07565	0.0100	get 0.0050% / 4h	2h 51m	$1.1M	$161K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Extended. 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 ExtendedbpFee BitgetbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$0.84
Price spread: −0.031% → +0.066%: −$9.67
Slippage, 4 orders: −$114.19
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$141.7
Costs to cover: 1.312%
Break-even: never at this rate

Slippage from Extended: live order book, 35 min ago; Bitget: live order book, 5 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, 35 min ago	4.34 bp	45.4 bp −$45	316.0 bp −$3,160	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.64 bp	24.3 bp −$24	87.2 bp −$872	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	−0.0469%	1h	0.07570	+0.033%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−3.876%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0054%	4h	0.07567	−0.005%	$113K	$12K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07576	+0.121%	$583K	$162K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07568	+0.010%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07568	+0.010%	$2.0M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07562	−0.071%	$696K	$643K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07569	+0.022%	$135K	$53K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07563	−0.057%	$348K	$114K	20x	as long as short
Bitget LAYERUSDTshort	+0.0100%	4h	0.07565	−0.031%	$1.1M	$161K	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07570	+0.035%	$25K	$187K	50x	as long as short
Extended LAYER-USDlong	+0.0104%	1h	0.07567	long leg	$2K	$174K	5x
BingX LAYER-USDT	+0.0350%	4h	0.07571	+0.048%	—	$1.6M	—	as long as short