Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%

Price spread now: Binance against Extended−0.090%7-day average +0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1131.134% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.278%+$28 · spread now −0.090%, 7d avg +0.086%

Together, before fees+0.257%+ Points / potential airdropExtended: Active · farm board+$26 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: Binance is 0.176% cheaper against Extended than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended S-USD	0.03911	0.0104	pay 0.0013% / 1h	28m 01s	$221K	$881K	10x
Short	Binance SUSDT	0.03907	0.0100	get 0.0050% / 4h	1h 28m	$5.3M	$19.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.090%Rate

Funding earned: −$0.84
Price spread: −0.090% → +0.086%: −$17.59
Slippage, 4 orders: −$98.44
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$131.87
Costs to cover: 1.134%
Break-even: never at this rate

Slippage from Extended: live order book, 55 min ago; Binance: 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, 55 min ago	3.83 bp	31.2 bp −$31	249.9 bp −$2,499	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	1.27 bp	20.3 bp −$20	61.4 bp −$614	doesn't fit	doesn't fit

S on 25 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_SUSD	−0.1600%	1h	0.03907	−0.095%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.161%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0847%	4h	0.03915	+0.115%	$609K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0196% / S +0.0189%	1h	0.03914	+0.100%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03913	+0.064%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03916	+0.148%	$604	—	150x	as long as short
Orderly PERP_S_USDC	+0.0028%	4h	0.03914	+0.089%	$100K	$345K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.846%	$2K	$37K	12x	as long as short
Aster SUSDT	+0.0093%	4h	0.03916	+0.153%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03916	+0.140%	$164K	$223K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03911	+0.018%	$981K	$757K	5x	as long as short
Binance SUSDTshort	+0.0100%	4h	0.03907	−0.090%	$5.3M	$19.5M	75x
Bybit SUSDT	+0.0100%	4h	0.03903	−0.192%	$5.6M	$5.7M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03905	−0.141%	$974K	$6.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03910	−0.013%	$319K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03914	+0.089%	$3.6M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03911	+0.013%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03911	+0.013%	$1.2M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03909	−0.039%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	+0.498%	$25K	$464K	50x	as long as short
Extended S-USDlong	+0.0104%	1h	0.03911	long leg	$221K	$881K	10x
01 Exchange SUSD	+0.0128%	1h	0.03920	+0.243%	$24K	$2K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0261%	1h	0.03918	+0.192%	$66K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0270%	1h	0.03920	+0.243%	$114K	$300K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03919	+0.217%	$268K	$126K	75x	as long as short