Settings8H · net · $10k
Funding arb · Price arb /

TAG

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 07:00 UTC+0.0612%/8h= +67.0% APRpaid last 24h +0.075%
Price spread now: Extended against Bybit+0.283%7-day average +0.080% · you sell dearer than you buy
Net, funding: paid 7d − costs−$584as in the Funding arb table
Net, price: spread back to 7d avg − costs−$546as in the Price arb table
costs, in and out, $10k−$5675.667% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.174%−$17 on $10k
Price spread, last 4 days (all we have)−0.185%−$18 · spread now +0.283%, 7d avg +0.080%
Together, before fees−0.358%+ Points / potential airdropExtended: Active · farm board−$36 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Extended is 0.204% dearer against Bybit than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.080%. Mind the row above: over the last 7 days funding on this pair cost −0.174%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.174% in total (about -9.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit 1000TAGUSDT0.00083340.0100pay 0.0050% / 4h1h 02m$529K$638K5x
ShortExtended TAG-USD0.00083580.0712get 0.0089% / 1h2m 19s$953$176K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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

Funding earned
$128.52
Price spread: +0.283% → +0.080%
$20.36
Slippage, 4 orders
−$550.7
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$417.82
Costs to cover
5.667%
Break-even
29.8 days
Slippage from Bybit: live order book, 33 min ago; Extended: live order book, 40 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 33 min ago7.11 bp254.9 bp −$255doesn't fitdoesn't fitdoesn't fit
Sell Extended live order book, 40 min ago17.72 bp110.6 bp −$111doesn't fitdoesn't fitdoesn't fit

TAG on 10 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit 1000TAGUSDTlong+0.0100%4h0.0008334long leg$529K$638K5x
Gate TAG_USDT+0.0100%4h0.0008347+0.156%$1.5M$147K20xas long as short
KuCoin TAGUSDTM+0.0100%4h0.0008354+0.240%$135K$34K25xas long as short
Bitget TAGUSDT+0.0100%4h0.0008369+0.420%$3.9M$342K20xas long as short
Variational Omni TAG+0.0100%4h0.0008423+1.068%$296$1Kas long as short
BingX TAG-USDT+0.0674%4h0.0008359+0.300%$1.3Mas long as short
MEXC TAG_USDT+0.0710%4h0.0008362+0.336%$5.8M$210K100xas long as short
Binance TAGUSDT+0.0710%4h0.0008360+0.312%$6.6M$2.0M25xas long as short
Extended TAG-USDshort+0.0712%1h0.0008358+0.283%$953$176K5x
Aster TAGUSDT+0.0796%4h0.0008366+0.389%$71K$6K5xas long as short