Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.01 per $10,000 · paid last 24h —

Price spread now: Extended against tradeXYZ−0.033%7-day average — · you buy dearer than you sell

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

Long on tradeXYZ Short on Extended

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 airdroptradeXYZ: Active · Extended: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Extended is 0.033% cheaper against tradeXYZ than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:COST	898.55	0.0050	pay 0.0006% / 1h	21m 50s	$1.8M	$515K	20x
Short	Extended COST-USD	898.25	0.0040	get 0.0005% / 1h	21m 50s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against tradeXYZ. 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 tradeXYZbpFee ExtendedbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$2.1
Price spread: −0.033% → 0.000%: −$3.34
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$28.44
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 5 min ago; Extended: 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 tradeXYZ live order book, 5 min ago	0.44 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: 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.

COST 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
Aster COSTUSDT	0.0000%	8h	898.85	+0.033%	$45K	$178	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	898.64	+0.010%	$491K	$218K	25x	as long as short
OKX COST-USDT-SWAP	0.0000%	8h	899.86	+0.146%	$447K	$109K	10x	as long as short
Gate COST_USDT	0.0000%	8h	898.89	+0.038%	$520K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	898.91	+0.040%	$403K	$102K	25x	as long as short
SunX COST-USDT	0.0000%	8h	898.30	−0.028%	$1K	$3.0M	10x	as long as short
HTX COST-USDT	0.0000%	8h	900.52	+0.219%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0005%	1h	898.59	+0.004%	$1.1M	$2.9M	10x	as long as short
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.731%	$2K	$28K	12x	as long as short
Variational Omni COST	+0.0037%	8h	898.64	+0.010%	$42K	$17K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended COST-USDshort	+0.0040%	1h	898.25	−0.033%	—	—	10x
Vest COST-USD-PERP	+0.0046%	1h	898.44	−0.012%	—	—	25x	as long as short
tradeXYZ xyz:COSTlong	+0.0050%	1h	898.55	long leg	$1.8M	$515K	20x
KuCoin COSTUSDTM	+0.0100%	8h	898.20	−0.039%	$48K	$873K	20x	as long as short
Binance COSTUSDT	+0.0138%	8h	898.81	+0.029%	$1.1M	$930K	20x	as long as short