Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bybit against Extended+0.319%7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1671.667% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.256%−$26 on $10k

Price spread, last 4 days (all we have)−0.162%−$16 · spread now +0.319%, 7d avg +0.107%

Together, before fees−0.419%+ Points / potential airdropExtended: Active · farm board−$42 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: Bybit is 0.211% dearer against Extended than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.107%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended STABLE-USD	0.02455	0.0104	pay 0.0013% / 1h	57m 44s	$12K	$211K	10x
Short	Bybit STABLEUSDT	0.02463	0.0100	get 0.0050% / 4h	3h 57m	$1.6M	$763K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.319%Rate

Funding earned: −$0.84
Price spread: +0.319% → +0.107%: $21.13
Slippage, 4 orders: −$150.73
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$146.44
Costs to cover: 1.667%
Break-even: never at this rate

Slippage from Extended: live order book, 38 min ago; Bybit: live order book, 3 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, 38 min ago	6.38 bp	44.3 bp −$44	307.9 bp −$3,079	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	6.11 bp	44.5 bp −$45	261.0 bp −$2,610	doesn't fit	doesn't fit

STABLE on 15 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
Lighter STABLE	+0.0096%	1h	0.02464	+0.376%	$113K	$10K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02451	−0.158%	$863K	$170K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02449	−0.245%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02453	−0.071%	$2.5M	$2.6M	75x	as long as short
Bybit STABLEUSDTshort	+0.0100%	4h	0.02463	+0.319%	$1.6M	$763K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02463	+0.339%	$210K	$447K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02459	+0.176%	$177K	$55K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02458	+0.135%	$593K	$158K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02457	+0.095%	$181K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02461	+0.258%	$284K	$89K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02461	+0.258%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02451	−0.143%	$144K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02451	−0.162%	$1K	$930K	20x	as long as short
Extended STABLE-USDlong	+0.0104%	1h	0.02455	long leg	$12K	$211K	10x
BloFin STABLE-USDT	+0.0111%	4h	0.02447	−0.313%	$113K	$10K	75x	as long as short