Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.002%

Price spread now: Orderly against Extended−0.027%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.027% cheaper against Extended than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 21 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended COIN_24_5-USD	195.93	0	get 0.0000% / 1h	25m 45s	$116K	$790K	10x
Short	Orderly PERP_COIN_USDC_mythos	195.88	0.0100	get 0.0100% / 8h	1h 25m	$566	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.027%Rate

Funding earned: $21
Price spread: −0.027% → 0.000%: −$2.68
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $7.32
Costs to cover: 0.110%
Break-even: 4.6 days

Slippage unknown: Extended: live order book, 17 min ago; Orderly: no order-book sample. Net counts fees only.

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, 17 min ago	1.02 bp	9.0 bp −$9	45.2 bp −$452	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 COINUSDT	−0.0711%	8h	196.11	+0.091%	$6.4M	$10.6M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	195.46	−0.241%	$43K	$48K	30x	as long as short
Vest COIN-USD-PERP	−0.0102%	1h	195.18	−0.384%	—	$322K	25x	as long as short
Aster COINUSDT	0.0000%	8h	195.76	−0.088%	$342K	$890K	20x	as long as short
Extended COIN_24_5-USDlong	0.0000%	1h	195.93	long leg	$116K	$790K	10x
Binance COINUSDT	0.0000%	8h	195.95	+0.009%	$15.0M	$82.2M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	195.96	+0.014%	$4.7M	$6.2M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	195.98	+0.024%	$3.0M	$4.7M	20x	as long as short
Gate COIN_USDT	0.0000%	8h	195.92	−0.006%	$1.2M	$7.4M	50x	as long as short
Variational Omni COIN	0.0000%	8h	195.90	−0.016%	$711K	$973K	—	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	195.49	−0.227%	$17K	$2.7M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	195.92	−0.006%	$461K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	195.63	−0.154%	$15K	$54K	5x	as long as short
QFEX COIN-USD	+0.0045%	1h	195.85	−0.042%	$1.3M	$2.9M	10x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	195.83	−0.052%	$15.2M	$13.2M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	195.71	−0.114%	$130K	$1.4M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	195.81	−0.062%	$76	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	195.75	−0.093%	$444K	$2.8M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	195.79	−0.073%	$987K	$136K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	195.45	−0.246%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythosshort	+0.0100%	8h	195.88	−0.027%	$566	$4K	10x
Aevo COIN-PERP	+0.0104%	1h	195.96	+0.014%	$116	—	10x	as long as short
Lighter COIN	+0.0120%	1h	195.93	−0.003%	$364K	$2.3M	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	195.72	−0.108%	$187K	$424K	20x	as long as short
edgeX COINUSDC	+0.0138%	4h	195.54	−0.199%	$50K	$296K	10x	as long as short
Phoenix COIN	+0.0163%	1h	195.47	−0.236%	$4K	$283K	10x	as long as short