Extended vs Gate.io Funding Arbitrage
70 shared markets · net of estimated fees · updated every few minutesExtended and Gate.io both quote 70 of the same perpetual markets, so a delta-neutral position can be split across the two and collect the difference in their funding. The widest spread on a market with real depth is UNITREE — long Extended / short Gate.io at 338.3% net APR — but the median across all shared markets is 10.0%, which is the number worth planning around.
The long leg is whichever venue prices funding lower for that market. It is a property of the MARKET, not of the exchange, and it flips as rates move: here 28 markets go long on Extended and 42 on Gate.io. 51 markets clear 5% net APR, 35 clear 10%.
How this pair behaves
Extended pays funding every 1h on 153 markets; Gate.io pays every 8h on 231 markets and every 4h on 201 markets. The two clocks differ, so one leg settles while the other is still accruing: a position held for only a few hours can pay one side without ever collecting from the other. Extended quotes 153 perpetual markets in total and Gate.io quotes 434; the 70 they share are what this page ranks. Across its own book Extended runs a median funding rate of 5.3% and Gate.io 6.1%, so the edge here comes from individual markets rather than from a standing gap between the venues.
Spreads by market
top 25 of 70 by net APR| Market | Long | Short | Net APR | Gross | 7d avg | Thin leg vol |
|---|---|---|---|---|---|---|
| UNITREE | Extended | Gate.io | 338.3% | 341.4% | -21.8% | $1.8M |
| PURR | Extended | Gate.io | 102.5% | 113.9% | -6.1% | $17K |
| SKHYNIX | Gate.io | Extended | 89.5% | 91.5% | +6.6% | $262K |
| SKHY | Extended | Gate.io | 65.9% | 68.3% | +7.2% | $25K |
| PONS | Gate.io | Extended | 59.0% | 62.2% | +19.5% | $13K |
| BMNR | Gate.io | Extended | 49.8% | 53.4% | +5.5% | $259K |
| ASTS | Extended | Gate.io | 38.1% | 42.0% | +4.5% | $616K |
| ZEC | Extended | Gate.io | 35.0% | 36.8% | -1.5% | $4.3M |
| SAGA | Gate.io | Extended | 27.1% | 30.0% | -0.4% | $262K |
| MORPHO | Gate.io | Extended | 26.6% | 28.7% | +2.2% | $448K |
| XLM | Gate.io | Extended | 25.7% | 27.8% | +14.7% | $921K |
| ORCA | Extended | Gate.io | 24.2% | 27.4% | -19.4% | $236K |
| ATOM | Extended | Gate.io | 23.1% | 26.7% | -1.0% | $288K |
| XCU | Extended | Gate.io | 22.7% | 24.6% | +8.4% | $90K |
| BTW | Gate.io | Extended | 21.6% | 24.5% | -13.5% | $85K |
| AR | Gate.io | Extended | 21.4% | 24.5% | +9.4% | $258K |
| ASTER | Gate.io | Extended | 20.6% | 23.2% | +2.3% | $92K |
| JTO | Gate.io | Extended | 20.0% | 22.6% | +2.6% | $924K |
| OP | Gate.io | Extended | 19.2% | 23.2% | -5.3% | $284K |
| AAVE | Extended | Gate.io | 19.2% | 21.2% | +0.9% | $961K |
| LINK | Gate.io | Extended | 16.9% | 19.1% | +2.8% | $285K |
| TIA | Gate.io | Extended | 16.9% | 19.3% | +5.4% | $568K |
| JASMY | Extended | Gate.io | 16.8% | 19.7% | -0.6% | $405K |
| AERO | Gate.io | Extended | 16.8% | 19.1% | +6.1% | $1.5M |
| ORDI | Extended | Gate.io | 16.1% | 18.8% | +0.7% | $279K |
Net APR subtracts entry and exit fees, both legs' bid/ask spread and estimated slippage from the gross funding spread. The 7-day average is historical gross funding for the same pair: a current rate close to it suggests the spread has persisted, one far above it is usually a spike that will decay.
Extended vs Gate.io — FAQ
How many markets can you arbitrage between Extended and Gate.io?
70 perpetual markets are quoted on both Extended and Gate.io right now. 51 of them show a net spread of at least 5% APR after estimated fees, and 23 have at least $1M of 24h volume on the smaller leg.
What is the best Extended / Gate.io funding spread right now?
UNITREE: long Extended and short Gate.io for about 338.3% net APR after estimated fees, counting only markets with at least $1M of 24h volume on the smaller leg. The median across all 70 shared markets is 10.0%, so the top of the list is not typical.
Which side pays on the Extended / Gate.io pair?
It varies by market: Extended is the long (funding-receiving) leg in 28 of the shared markets and Gate.io in the other 42. The direction is set per market by which venue currently prices funding lower.
Trading the Extended / Gate.io spread
The trade is one position split across two venues: long the exchange paying the more negative funding, short the one paying the more positive, in the same size. What limits it is not the headline APR but the smaller leg's liquidity, the fees on both sides, and how long the spread survives — funding decays and flips, often within hours. Venue detail: Extended funding rates · Gate.io funding rates; the full calculation is in the methodology.