Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: Extended against BingX−0.080%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1121.121% of the position

Long on BingX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 7 days+0.105%+$11 · spread now −0.080%, 7d avg −0.054%

Together, before fees+0.045%+ Points / potential airdropExtended: Active · farm board+$5 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 0.026% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.04431	0.0100	pay 0.0050% / 4h	10m 38s	—	$7.2M	—
Short	Extended S-USD	0.04427	0.0104	get 0.0013% / 1h	10m 38s	$251K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BingX. 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 BingXbpFee ExtendedbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0.84
Price spread: −0.080% → −0.054%: −$2.61
Slippage, 4 orders: −$97.12
Fee BingX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$113.89
Costs to cover: 1.121%
Break-even: 956.1 days

Slippage from BingX: live order book, 5 min ago; Extended: live order book, 1 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 BingX live order book, 5 min ago	5.64 bp	18.5 bp −$19	55.5 bp −$555	441.2 bp −$44.1K	752.0 bp −$376.0K
Sell Extended live order book, 1 min ago	4.53 bp	34.9 bp −$35	280.4 bp −$2,804	doesn't fit	doesn't fit

S on 25 exchanges

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
01 Exchange SUSD	−0.7040%	1h	0.04510	+1.783%	$27K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.3684%	1h	0.04421	−0.221%	$37K	$29K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1880%	1h	0.04346	−1.918%	$54K	$20K	25x	as long as short
Variational Omni S	−0.1241%	4h	0.04413	−0.411%	$708K	$53K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0254% / S +0.0167%	1h	0.04424	−0.151%	$2K	—	100x	as long as short
Orderly PERP_S_USDC	−0.0188%	4h	0.04425	−0.135%	$109K	$625K	10x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04417	−0.316%	$4	—	15x	as long as short
OKX S-USDT-SWAP	−0.0084%	4h	0.04429	−0.045%	$1.3M	$7.7M	20x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.04432	+0.023%	$75K	$623	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04421	−0.236%	$682	—	150x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective S/USDC PERP	+0.0033%	1h	0.04600	+3.814%	$2K	$2	12x	as long as short
Lighter S	+0.0096%	1h	0.04427	−0.090%	$155K	$158K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.04427	−0.093%	$1.1M	$1.1M	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04435	+0.084%	$47K	$189K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04433	+0.045%	$6.5M	$27.3M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04430	−0.023%	$6.2M	$7.0M	50x	as long as short
Gate S_USDT	+0.0100%	4h	0.04427	−0.090%	$373K	$409K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04431	0.000%	$3.8M	$3.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04422	−0.203%	$2.1M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04434	+0.068%	$1.3M	$3.7M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.04431	long leg	—	$7.2M	—
Backpack S_USDC_PERP	+0.0100%	1h	0.04430	−0.023%	$100K	$428K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04440	+0.203%	$25K	$536K	50x	as long as short
Extended S-USDshort	+0.0104%	1h	0.04427	−0.080%	$251K	$1.3M	10x
BloFin S-USDT	+0.0340%	4h	0.04417	−0.316%	$318K	$236K	75x	as long as short