Funding arb · Price arb /

EDGE

all EDGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0245%/8h= +26.8% APRpaid last 24h +0.112%

Price spread now: SunX against Backpack+4.482%7-day average +0.525% · you sell dearer than you buy

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

Long on Backpack Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.750%−$75 on $10k

Price spread, last 3 days (all we have)−3.021%−$302 · spread now +4.482%, 7d avg +0.525%

Together, before fees−3.770%−$377 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and SunX is 3.957% dearer against Backpack than usual: you sell high and buy low: +$396 more if the spread goes back to its 7-day average of +0.525%. Mind the row above: over the last 7 days funding on this pair cost −0.750%, 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	0.5870	−0.0145	get 0.0018% / 1h	13m 45s	$59K	$100K	3.3x
Short	SunX EDGE-USDT	0.6133	0.0100	get 0.0050% / 4h	2h 13m	$4K	$602K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +4.482%Rate

Funding earned: $51.35
Price spread: +4.482% → +0.525%: $395.69
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: $429.04
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Backpack: no order-book sample; SunX: live order book, 67 min ago. 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 Backpack no order-book sample	—	—	—	—	—
Sell SunX live order book, 67 min ago	501.45 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

Backpack: 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
Backpack EDGE_USDC_PERPlong	−0.0145%	1h	0.5870	long leg	$59K	$100K	3.3x
Lighter EDGE	+0.0096%	1h	0.5855	−0.259%	$54K	$9K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5865	−0.083%	$7.0M	$3.2M	25x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5868	−0.032%	$4.7M	$990K	20x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5862	−0.131%	$191K	$130K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5876	+0.105%	$2K	$1.7M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5875	+0.087%	$8K	$295K	50x	as long as short
SunX EDGE-USDTshort	+0.0100%	4h	0.6133	+4.482%	$4K	$602K	10x
KuCoin EDGEUSDTM	+0.0154%	4h	0.5867	−0.049%	$2.1M	$2.3M	50x	as long as short
Aster EDGEUSDT	+0.0387%	4h	0.5864	−0.108%	$67K	$134K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin EDGE-USDT	+0.0399%	4h	0.5868	−0.032%	$629K	$126K	50x	as long as short
edgeX EDGEUSDC	+0.0403%	4h	0.5882	+0.211%	$14.1M	$3.4M	30x	as long as short
Extended EDGE-USD	+0.0408%	1h	0.5866	−0.062%	$27K	$230K	5x	as long as short
MEXC EDGE_USDT	+0.0410%	4h	0.5872	+0.036%	$1.2M	$930K	50x	as long as short
Binance EDGEUSDT	+0.0411%	4h	0.5873	+0.057%	$10.0M	$10.0M	50x	as long as short
OKX EDGE-USDT-SWAP	+0.0423%	4h	0.5872	+0.036%	$3.6M	$5.7M	20x	as long as short
Orderly PERP_EDGE_USDC	+0.0458%	4h	0.5867	−0.049%	$3K	—	10x	as long as short