Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.128%

Price spread now: Backpack against ApeX Omni−0.131%7-day average −0.152% · you buy dearer than you sell

Net, funding: paid 7d − costs−$349as in the Funding arb table

Net, price: spread back to 7d avg − costs−$417as in the Price arb table

costs, in and out, $10k−$4194.194% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.703%+$70 on $10k

Price spread, last 4 days (all we have)−0.396%−$40 · spread now −0.131%, 7d avg −0.152%

Together, before fees+0.307%+$31 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.022% dearer against ApeX Omni than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.152%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni EDGEUSDT	0.5969	0.0100	pay 0.0013% / 1h	19m 12s	$9K	$306K	50x
Short	Backpack EDGE_USDC_PERP	0.5961	0.0100	get 0.0013% / 1h	19m 12s	$60K	$105K	3.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX Omni. 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now −0.131%Rate

Funding earned: $0
Price spread: −0.131% → −0.152%: $2.16
Slippage, 4 orders: −$399.39
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$417.22
Costs to cover: 4.194%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 43 min ago; Backpack: live order book, 20 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 ApeX Omni live order book, 43 min ago	19.45 bp	200.6 bp −$201	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 20 min ago	3.37 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit

EDGE on 17 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
Lighter EDGE	+0.0096%	1h	0.5950	−0.318%	$43K	$19K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5949	−0.335%	$7.1M	$3.3M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5959	−0.168%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5955	−0.235%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERPshort	+0.0100%	1h	0.5961	−0.131%	$60K	$105K	3.3x
Variational Omni EDGE	+0.0100%	4h	0.5959	−0.161%	$190K	$135K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5970	+0.016%	$2K	$2.1M	10x	as long as short
ApeX Omni EDGEUSDTlong	+0.0100%	1h	0.5969	long leg	$9K	$306K	50x
SunX EDGE-USDT	+0.0100%	4h	0.6231	+4.389%	$4K	$621K	10x	as long as short
BloFin EDGE-USDT	+0.0466%	4h	0.5955	−0.235%	$654K	$101K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EDGE-USD	+0.0480%	1h	0.5955	−0.236%	$27K	$194K	5x	as long as short
Binance EDGEUSDT	+0.0481%	4h	0.5960	−0.154%	$10.2M	$10.3M	50x	as long as short
MEXC EDGE_USDT	+0.0486%	4h	0.5958	−0.184%	$1.2M	$901K	50x	as long as short
Aster EDGEUSDT	+0.0530%	4h	0.5963	−0.101%	$69K	$129K	5x	as long as short
OKX EDGE-USDT-SWAP	+0.0557%	4h	0.5963	−0.101%	$3.7M	$5.8M	20x	as long as short
edgeX EDGEUSDC	+0.0558%	4h	0.5981	+0.205%	$14.3M	$3.6M	30x	as long as short
Orderly PERP_EDGE_USDC	+0.0659%	4h	0.5958	−0.184%	$3K	—	10x	as long as short