Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0783%/8h= −85.7% APRpaid last 24h −0.027%

Price spread now: Bitget against Extended+0.060%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)+0.149%+$15 · spread now +0.060%, 7d avg +0.057%

Together, before fees+0.130%+ Points / potential airdropExtended: Active · farm board+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.057%, so right now this pair is about funding alone: −$23 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.019% in total (about -1.0% 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended COIN_24_5-USD	196.48	0	get 0.0000% / 1h	8m 42s	$112K	$854K	10x
Short	Bitget COINUSDT	196.60	−0.0783	pay 0.0783% / 8h	2h 08m	$6.4M	$10.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$164.43
Price spread: +0.060% → +0.057%: $0.34
Slippage, 4 orders: −$19.81
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$200.9
Costs to cover: 0.368%
Break-even: never at this rate

Slippage from Extended: live order book, 39 min ago; Bitget: live order book, 5 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, 39 min ago	0.25 bp	8.2 bp −$8	39.8 bp −$398	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.04 bp	10.9 bp −$11	21.4 bp −$214	doesn't fit	doesn't fit

COIN on 26 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
Bitget COINUSDTshort	−0.0783%	8h	196.60	+0.060%	$6.4M	$10.7M	20x
Injective COIN/USDC PERP	−0.0440%	1h	196.48	−0.001%	$43K	$48K	30x	as long as short
Vest COIN-USD-PERP	−0.0110%	1h	195.91	−0.291%	—	$289K	25x	as long as short
Gate COIN_USDT	−0.0077%	8h	196.53	+0.025%	$1.2M	$7.4M	50x	as long as short
Aster COINUSDT	0.0000%	8h	196.35	−0.065%	$343K	$890K	20x	as long as short
Extended COIN_24_5-USDlong	0.0000%	1h	196.48	long leg	$112K	$854K	10x
Binance COINUSDT	0.0000%	8h	196.52	+0.021%	$15.1M	$82.6M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	196.49	+0.004%	$4.7M	$6.3M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	196.56	+0.040%	$3.0M	$4.7M	20x	as long as short
Variational Omni COIN	0.0000%	8h	196.45	−0.018%	$713K	$961K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	196.51	+0.016%	$11K	$2.6M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	196.27	−0.108%	$458K	$1.5M	10x	as long as short
QFEX COIN-USD	+0.0038%	1h	196.50	+0.009%	$1.3M	$3.0M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	196.43	−0.026%	$15K	$54K	5x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	196.25	−0.118%	$15.3M	$13.8M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	196.38	−0.052%	$128K	$1.4M	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	196.32	−0.082%	$450K	$2.9M	10x	as long as short
SoDEX COIN-USD	+0.0061%	1h	196.39	−0.047%	$93	$3K	10x	as long as short
Phoenix COIN	+0.0082%	1h	196.47	−0.006%	$4K	$283K	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	196.20	−0.143%	$989K	$143K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	196.38	−0.052%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	196.43	−0.026%	$568	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	196.43	−0.026%	$116	—	10x	as long as short
Lighter COIN	+0.0112%	1h	196.47	−0.005%	$380K	$2.3M	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.50	+0.009%	$186K	$422K	20x	as long as short
edgeX COINUSDC	+0.0687%	4h	196.40	−0.041%	$51K	$294K	10x	as long as short