Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0282%/8h= +30.8% APRpaid last 24h +0.131%

Price spread now: KuCoin against Backpack+0.069%7-day average +0.121% · you sell dearer than you buy

Net, funding: paid 7d − costs−$613as in the Funding arb table

Net, price: spread back to 7d avg − costs−$547as in the Price arb table

costs, in and out, $10k−$5415.413% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.717%−$72 on $10k

Price spread, last 4 days (all we have)+0.194%+$19 · spread now +0.069%, 7d avg +0.121%

Together, before fees−0.524%−$52 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.052% cheaper against Backpack than usual: you would sell low and buy high (spread +0.069% now, against its 7-day average of +0.121%). If the spread goes back, that is −$5 on $10k: about 15 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 7 days funding on this pair cost −0.717%, 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	0.5941	−0.0182	get 0.0023% / 1h	42m 52s	$56K	$101K	3.3x
Short	KuCoin EDGEUSDTM	0.5945	0.0100	get 0.0050% / 4h	3h 42m	$2.1M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.069%Rate

Funding earned: $59.12
Price spread: +0.069% → +0.121%: −$5.24
Slippage, 4 orders: −$519.32
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$487.44
Costs to cover: 5.413%
Break-even: 64.7 days

Slippage from Backpack: live order book, 6 min ago; KuCoin: live order book, 4 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, 6 min ago	1.09 bp	18.9 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	4.20 bp	332.9 bp −$333	938.2 bp −$9,382	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	−0.0182%	1h	0.5941	long leg	$56K	$101K	3.3x
Lighter EDGE	+0.0096%	1h	0.5932	−0.155%	$49K	$14K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5936	−0.082%	$7.0M	$3.3M	25x	as long as short
KuCoin EDGEUSDTMshort	+0.0100%	4h	0.5945	+0.069%	$2.1M	$2.2M	50x
Bitget EDGEUSDT	+0.0100%	4h	0.5938	−0.049%	$4.8M	$1.0M	20x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5941	−0.005%	$190K	$127K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5955	+0.234%	$5K	$1.9M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5958	+0.288%	$9K	$290K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5898	−0.722%	$3K	$613K	10x	as long as short
Aster EDGEUSDT	+0.0590%	4h	0.5944	+0.052%	$68K	$133K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX EDGE-USDT-SWAP	+0.0594%	4h	0.5945	+0.069%	$3.7M	$5.8M	20x	as long as short
MEXC EDGE_USDT	+0.0614%	4h	0.5947	+0.103%	$1.2M	$912K	50x	as long as short
Binance EDGEUSDT	+0.0614%	4h	0.5944	+0.052%	$10.1M	$10.1M	50x	as long as short
Extended EDGE-USD	+0.0616%	1h	0.5942	+0.014%	$27K	$224K	5x	as long as short
edgeX EDGEUSDC	+0.0620%	4h	0.5955	+0.231%	$14.2M	$3.5M	30x	as long as short
BloFin EDGE-USDT	+0.0635%	4h	0.5940	−0.015%	$643K	$95K	50x	as long as short
Orderly PERP_EDGE_USDC	+0.0776%	4h	0.5944	+0.052%	$3K	—	10x	as long as short