Funding you earn now, next payment 07:00 UTC−0.0484%/8h= −53.0% APRpaid last 24h −0.131%
Price spread now: edgeX against Backpack+0.169%85s7-day average −0.059% · you sell dearer than you buy
Net, funding: paid 7d − costs−$79as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$630.634% of the position
Funding, last 7 days−0.161%−$16 on $10k
+Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.169%, 7d avg −0.059%
=Together, before fees−0.274%+ Points / potential airdropedgeX: Active · farm board−$27 on $10k · with fees, hour by hour
The price spread pays, funding is against you. edgeX is 0.228% dearer against Backpack than usual: you sell high and buy low (spread +0.169% now, against its 7-day average of −0.059%): +$23 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 38 hours. At the pace of the last 7 days (−0.161% in total) that is about 9.9 days. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.161% in total (about -8.4% 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 | Backpack ARB_USDC_PERP | 0.2200 | 0.0584 | pay 0.0073% / 1h | 7m 50s | $988K | $2.8M | 20x |
| Short | edgeX ARBUSDC | 0.2204 | 0.0100 | get 0.0050% / 4h | 1h 07m | $39K | $462K | 20x |
Backpack ARB_USDC_PERP
edgeX ARBUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$101.7
- Price spread: +0.169% → −0.059%
- $22.77
- Slippage, 4 orders
- −$44.35
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- −$142.28
- Costs to cover
- 0.634%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 1 min ago; edgeX: live order book, 36 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 Backpack live order book, 1 min ago | 0.91 bp | 9.4 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell edgeX live order book, 36 min ago | 13.54 bp | 21.4 bp −$21 | 137.1 bp −$1,371 | doesn't fit | doesn't fit |
ARB on 36 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ARB/USDC PERP | −0.1592% | 1h | 0.2189 | −0.491% | $39K | $372K | 12x | as long as short |
| Polymarket Perps ARB-USD | −0.0178% | 1h | 0.2196 | −0.182% | $67K | $2.1M | 10x | as long as short |
| 01 Exchange ARBUSD | −0.0152% | 1h | 0.2194 | −0.268% | $7K | $236 | 10x | as long as short |
| SoDEX ARB-USD | −0.0110% | 1h | 0.2196 | −0.173% | $9K | $2.2M | 5x | as long as short |
| OKX ARB-USDT-SWAP | −0.0090% | 8h | 0.2195 | −0.223% | $22.1M | $144.8M | 50x | as long as short |
| MEXC ARB_USDT | −0.0089% | 8h | 0.2196 | −0.177% | $41.4M | $62.3M | 200x | as long as short |
| Variational Omni ARB | −0.0044% | 8h | 0.2201 | +0.066% | $1.8M | $3.0M | — | as long as short |
| Orderly PERP_ARB_USDC | −0.0039% | 8h | 0.2196 | −0.173% | $12K | $408K | 10x | as long as short |
| Bybit ARBUSDT | −0.0009% | 8h | 0.2195 | −0.195% | $53.9M | $126.3M | 50x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2197 | −0.143% | $65K | $5K | 10x | as long as short |
Injective ARB/USDC PERP
Polymarket Perps ARB-USD
01 Exchange ARBUSD
SoDEX ARB-USD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Variational Omni ARB
Orderly PERP_ARB_USDC
Bybit ARBUSDT
dYdX ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2197 | −0.132% | $28K | $38K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0009% | 1h | 0.2197 | −0.114% | $44K | — | 150x | as long as short |
| Gate ARB_USDT | +0.0019% | 8h | 0.2195 | −0.209% | $5.4M | $18.5M | 60x | as long as short |
| Binance ARBUSDT | +0.0035% | 8h | 0.2195 | −0.203% | $62.8M | $301.5M | 75x | as long as short |
| Extended ARB-USD | +0.0040% | 1h | 0.2195 | −0.198% | $350K | $2.9M | 25x | as long as short |
| RISEx ARB/USDC | +0.0056% | 1h | 0.2196 | −0.161% | $484K | $2.6M | 10x | as long as short |
| Bitget ARBUSDT | +0.0070% | 8h | 0.2196 | −0.173% | $21.2M | $34.7M | 50x | as long as short |
| BingX ARB-USDT | +0.0070% | 8h | 0.2195 | −0.195% | — | $33.2M | — | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2196 | −0.186% | $1.2M | $5.5M | 15x | as long as short |
| Aevo ARB-PERP | +0.0096% | 1h | 0.2197 | −0.127% | $139K | $7K | 3x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2198 | −0.095% | $37.1M | $49.2M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2197 | −0.141% | $631K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2197 | −0.128% | $43K | $148K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2197 | −0.145% | $19.5M | $14.2M | 75x | as long as short |
| edgeX ARBUSDCshort | +0.0100% | 4h | 0.2204 | +0.169% | $39K | $462K | 20x | |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2203 | +0.144% | $479K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2203 | +0.145% | $119K | $280K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2198 | −0.082% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2197 | −0.109% | $293K | $857K | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2197 | −0.127% | $4.9M | $12.8M | 50x | as long as short |
| BloFin ARB-USDT | +0.0167% | 8h | 0.2197 | −0.109% | $3.0M | $2.3M | 75x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0232% | 1h | 0.2198 | −0.082% | $1.1M | $4.4M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0276% / S −0.0158% | 1h | 0.2197 | −0.120% | $829K | — | 150x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0288% | 1h | 0.2204 | +0.177% | $525K | $1.5M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0289% | 1h | 0.2196 | −0.185% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0584% | 1h | 0.2200 | long leg | $988K | $2.8M | 20x |
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Gate ARB_USDT
Binance ARBUSDT
Extended ARB-USD
RISEx ARB/USDC
Bitget ARBUSDT
BingX ARB-USDT
Lighter ARB
Aevo ARB-PERP
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
BloFin ARB-USDT
Kraken Futures PF_ARBUSD
GMX ARB/USD [ARB-USDC]
Coinbase International ARB-PERP-INTX
Reya ARBRUSDPERP