Funding arb · Price arb /

LAYER

all LAYER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: OKX against Extended−0.032%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1291.290% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now −0.032%, 7d avg −0.006%

Together, before fees+0.115%+ Points / potential airdropExtended: Active · farm board+$11 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: OKX is 0.026% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LAYER-USD	0.07697	0.0104	pay 0.0013% / 1h	58m 11s	$2K	$172K	5x
Short	OKX LAYER-USDT-SWAP	0.07695	0.0100	get 0.0050% / 4h	3h 58m	$709K	$697K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Extended. 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 ExtendedbpFee OKXbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$0.84
Price spread: −0.032% → −0.006%: −$2.58
Slippage, 4 orders: −$113.97
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$132.39
Costs to cover: 1.290%
Break-even: never at this rate

Slippage from Extended: live order book, 13 min ago; OKX: live order book, 13 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, 13 min ago	3.91 bp	40.4 bp −$40	316.6 bp −$3,166	doesn't fit	doesn't fit
Sell OKX live order book, 13 min ago	3.25 bp	25.8 bp −$26	doesn't fit	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	−0.0784%	1h	0.07703	+0.066%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.501%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0045%	4h	0.07702	+0.059%	$113K	$12K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07706	+0.110%	$593K	$169K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07704	+0.087%	$10K	$3K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07699	+0.017%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAPshort	+0.0100%	4h	0.07695	−0.032%	$709K	$697K	20x
Gate LAYER_USDT	+0.0100%	4h	0.07711	+0.176%	$137K	$52K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07699	+0.020%	$341K	$113K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07707	+0.124%	$1.1M	$166K	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	0.07708	+0.137%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07700	+0.033%	$26K	$183K	50x	as long as short
Extended LAYER-USDlong	+0.0104%	1h	0.07697	long leg	$2K	$172K	5x