Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0476%/8h= +52.1% APRpaid last 24h +0.082%

Price spread now: Orderly against ApeX Omni−0.085%50s7-day average — · you buy dearer than you sell

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

Long on ApeX Omni Short on Orderly

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—needs both histories

Funding pays, the price is against you. Orderly is 0.085% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 14 hours of funding at the current rate (+$14 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni EDGEUSDT	0.5878	0.0100	pay 0.0013% / 1h	11m 31s	$8K	$294K	50x
Short	Orderly PERP_EDGE_USDC	0.5873	0.0576	get 0.0288% / 4h	1h 11m	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.085%Rate

Funding earned: $99.95
Price spread: −0.085% → 0.000%: −$8.51
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $75.45
Costs to cover: 0.160%
Break-even: 1.7 days

Slippage unknown: ApeX Omni: live order book, 6 min ago; Orderly: 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 ApeX Omni live order book, 6 min ago	19.56 bp	180.0 bp −$180	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

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	0.5855	−0.393%	$54K	$8K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5865	−0.221%	$6.9M	$3.3M	25x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5871	−0.119%	$4.7M	$999K	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5870	−0.141%	$60K	$100K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5862	−0.268%	$191K	$130K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5871	−0.117%	$12K	$1.8M	10x	as long as short
ApeX Omni EDGEUSDTlong	+0.0100%	1h	0.5878	long leg	$8K	$294K	50x
SunX EDGE-USDT	+0.0100%	4h	0.5828	−0.851%	$3K	$610K	10x	as long as short
KuCoin EDGEUSDTM	+0.0174%	4h	0.5871	−0.119%	$2.1M	$2.3M	50x	as long as short
MEXC EDGE_USDT	+0.0478%	4h	0.5874	−0.068%	$1.2M	$921K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance EDGEUSDT	+0.0479%	4h	0.5875	−0.051%	$10.0M	$10.1M	50x	as long as short
Extended EDGE-USD	+0.0480%	1h	0.5869	−0.157%	$27K	$230K	5x	as long as short
Aster EDGEUSDT	+0.0490%	4h	0.5872	−0.102%	$68K	$136K	5x	as long as short
BloFin EDGE-USDT	+0.0491%	4h	0.5878	0.000%	$632K	$125K	50x	as long as short
edgeX EDGEUSDC	+0.0540%	4h	0.5876	−0.038%	$14.0M	$3.4M	30x	as long as short
OKX EDGE-USDT-SWAP	+0.0549%	4h	0.5875	−0.051%	$3.6M	$5.8M	20x	as long as short
Orderly PERP_EDGE_USDCshort	+0.0576%	4h	0.5873	−0.085%	$3K	—	10x