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 MEXC+0.032%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1131.126% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.032%, 7d avg −0.026%

Together, before fees−0.018%+ Points / potential airdropExtended: Active · farm board−$2 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 0.058% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LAYER_USDT	0.07635	0.0100	pay 0.0050% / 4h	2h 16m	$371K	$132K	20x
Short	Extended LAYER-USD	0.07637	0.0104	get 0.0013% / 1h	16m 09s	$272	$213K	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

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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 MEXCbpFee ExtendedbpOrdersPrice spread, now +0.032%Rate

Funding earned: $0.84
Price spread: +0.032% → −0.026%: $5.8
Slippage, 4 orders: −$107.65
Fee MEXC: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$106
Costs to cover: 1.126%
Break-even: 890.4 days

Slippage from MEXC: live order book, 14 min ago; Extended: live order book, 30 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, 14 min ago	3.94 bp	13.4 bp −$13	52.9 bp −$529	159.6 bp −$16.0K	doesn't fit
Sell Extended live order book, 30 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	−0.0416%	1h	0.07639	+0.056%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.728%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07640	+0.064%	$588K	$167K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07636	+0.010%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07633	−0.021%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07626	−0.118%	$713K	$670K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07650	+0.196%	$141K	$41K	20x	as long as short
MEXC LAYER_USDTlong	+0.0100%	4h	0.07635	long leg	$371K	$132K	20x
Bitget LAYERUSDT	+0.0100%	4h	0.07634	−0.013%	$1.1M	$112K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07639	+0.052%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07640	+0.065%	$16K	$195K	50x	as long as short
Extended LAYER-USDshort	+0.0104%	1h	0.07637	+0.032%	$272	$213K	5x
BloFin LAYER-USDT	+0.0115%	4h	0.07642	+0.092%	$113K	$15K	50x	as long as short