Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0477%/8h= +52.2% APRpaid last 24h +0.128%

Price spread now: Bitget against Backpack+0.022%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1191.185% of the position

Long on Backpack Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.713%−$71 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now +0.022%, 7d avg +0.071%

Together, before fees−0.593%−$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.049% cheaper against Backpack than usual: you would sell low and buy high (spread +0.022% now, against its 7-day average of +0.071%). If the spread goes back, that is −$5 on $10k: about 8 hours of funding at the current rate (+$14 a day). Mind the row above: over the last 7 days funding on this pair cost −0.713%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack EDGE_USDC_PERP	0.5887	−0.0377	get 0.0047% / 1h	52m 51s	$59K	$101K	3.3x
Short	Bitget EDGEUSDT	0.5888	0.0100	get 0.0050% / 4h	2h 52m	$4.7M	$1.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Backpack. 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 BackpackbpFee BitgetbpOrdersPrice spread, now +0.022%Rate

Funding earned: $100.18
Price spread: +0.022% → +0.071%: −$4.93
Slippage, 4 orders: −$96.52
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$23.28
Costs to cover: 1.185%
Break-even: 8.6 days

Slippage from Backpack: live order book, 56 min ago; Bitget: live order book, 5 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, 56 min ago	1.09 bp	18.9 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	5.04 bp	32.9 bp −$33	371.9 bp −$3,719	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
Backpack EDGE_USDC_PERPlong	−0.0377%	1h	0.5887	long leg	$59K	$101K	3.3x
Lighter EDGE	+0.0096%	1h	0.5871	−0.270%	$49K	$13K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5880	−0.114%	$7.1M	$3.4M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5877	−0.165%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDTshort	+0.0100%	4h	0.5888	+0.022%	$4.7M	$1.0M	20x
Variational Omni EDGE	+0.0100%	4h	0.5910	+0.397%	$188K	$128K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5856	−0.522%	$2K	$1.9M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5950	+1.075%	$11K	$296K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5833	−0.912%	$3K	$618K	10x	as long as short
OKX EDGE-USDT-SWAP	+0.0414%	4h	0.5897	+0.175%	$3.6M	$5.8M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX EDGEUSDC	+0.0458%	4h	0.5958	+1.204%	$14.2M	$3.6M	30x	as long as short
Aster EDGEUSDT	+0.0483%	4h	0.5878	−0.143%	$68K	$132K	5x	as long as short
Binance EDGEUSDT	+0.0527%	4h	0.5890	+0.054%	$10.0M	$10.4M	50x	as long as short
Extended EDGE-USD	+0.0528%	1h	0.5885	−0.028%	$27K	$194K	5x	as long as short
MEXC EDGE_USDT	+0.0528%	4h	0.5889	+0.039%	$1.1M	$909K	50x	as long as short
BloFin EDGE-USDT	+0.0580%	4h	0.5890	+0.056%	$658K	$97K	50x	as long as short
Orderly PERP_EDGE_USDC	+0.0764%	4h	0.5877	−0.165%	$3K	—	10x	as long as short