Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0380%/8h= +41.6% APRpaid last 24h +0.207%

Price spread now: MEXC against Backpack−0.111%7-day average +0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.457%−$46 on $10k

Price spread, last 4 days (all we have)+0.310%+$31 · spread now −0.111%, 7d avg +0.138%

Together, before fees−0.148%−$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.249% cheaper against Backpack than usual: you would sell low and buy high (spread −0.111% now, against its 7-day average of +0.138%). If the spread goes back, that is −$25 on $10k: about 2.2 days of funding at the current rate (+$11 a day). Mind the row above: over the last 7 days funding on this pair cost −0.457%, 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	0.5957	0.0100	pay 0.0013% / 1h	18m 28s	$60K	$105K	3.3x
Short	MEXC EDGE_USDT	0.5950	0.0480	get 0.0240% / 4h	1h 18m	$1.2M	$901K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.111%Rate

Funding earned: $79.8
Price spread: −0.111% → +0.138%: −$24.89
Slippage, 4 orders: −$32.66
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 4 bp × 2 orders: −$8
Net: $4.25
Costs to cover: 0.507%
Break-even: 6.6 days

Slippage from Backpack: live order book, 20 min ago; MEXC: live order book, 3 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, 20 min ago	3.37 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.84 bp	9.2 bp −$9	73.4 bp −$734	252.7 bp −$25.3K	817.0 bp −$408.5K

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	0.5942	−0.248%	$43K	$19K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5943	−0.228%	$7.1M	$3.3M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5944	−0.212%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5944	−0.212%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERPlong	+0.0100%	1h	0.5957	long leg	$60K	$105K	3.3x
Variational Omni EDGE	+0.0100%	4h	0.5959	+0.047%	$190K	$135K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5970	+0.224%	$2K	$2.1M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5969	+0.208%	$9K	$306K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.6231	+4.607%	$4K	$621K	10x	as long as short
BloFin EDGE-USDT	+0.0466%	4h	0.5955	−0.027%	$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
Binance EDGEUSDT	+0.0475%	4h	0.5947	−0.160%	$10.2M	$10.3M	50x	as long as short
Extended EDGE-USD	+0.0480%	1h	0.5943	−0.229%	$27K	$194K	5x	as long as short
MEXC EDGE_USDTshort	+0.0480%	4h	0.5950	−0.111%	$1.2M	$901K	50x
Aster EDGEUSDT	+0.0522%	4h	0.5959	+0.033%	$69K	$128K	5x	as long as short
OKX EDGE-USDT-SWAP	+0.0557%	4h	0.5951	−0.094%	$3.7M	$5.8M	20x	as long as short
edgeX EDGEUSDC	+0.0558%	4h	0.5981	+0.414%	$14.3M	$3.6M	30x	as long as short
Orderly PERP_EDGE_USDC	+0.0659%	4h	0.5958	+0.024%	$3K	—	10x	as long as short