TRUTH: Extended → Bybit

Long on the venue with the lower rate, short on the venue with the higher one. Income comes from the rate difference; price exposure cancels out.

Spread

-56%

APR right now

Price gap

+0.206%

between legs

Average spread

-34%

over 24h from our own samples

Over 7 days

-34%

samples: 121

ExtendedLONG

Bid / ask0.013572 / 0.01359

Mark price0.013594

Volume 24h$180.40K

Open interest$2.34K

Rate+0.0076%

APR+67%

Interval / next payout1h / 17m

Extended

BybitSHORT

Bid / ask0.013618 / 0.013623

Mark price0.013621

Volume 24h$410.11K

Open interest$1.28M

Rate+0.0050%

APR+11%

Interval / next payout4h / 1h 17m

Bybit

Spread from our samples

spread over the period: from -87% to 137% APR, 121 samples

The rate can flip at any moment, and then the position starts costing money. Size is limited by the weaker leg, and entry and exit both pay fees on two venues. Not financial advice.