Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.009%

Price spread now: Extended against Binance−0.036%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$1931.926% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now −0.036%, 7d avg −0.058%

Together, before fees−0.050%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.022% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance EDGEUSDT	0.5870	0.0489	pay 0.0245% / 4h	2h 09m	$10.0M	$10.4M	50x
Short	Extended EDGE-USD	0.5868	0.0488	get 0.0061% / 1h	9m 00s	$27K	$199K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpFee ExtendedbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$0.24
Price spread: −0.036% → −0.058%: $2.18
Slippage, 4 orders: −$177.57
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$190.62
Costs to cover: 1.926%
Break-even: never at this rate

Slippage from Binance: live order book, 1 min ago; Extended: live order book, 57 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 Binance live order book, 1 min ago	0.85 bp	26.3 bp −$26	248.3 bp −$2,483	doesn't fit	doesn't fit
Sell Extended live order book, 57 min ago	3.42 bp	77.1 bp −$77	doesn't fit	doesn't fit	doesn't fit

EDGE on 16 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	0.5860	−0.180%	$43K	$19K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5863	−0.122%	$7.0M	$3.4M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5876	+0.100%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5872	+0.032%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5868	−0.033%	$58K	$105K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5877	+0.125%	$189K	$131K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5886	+0.273%	$7K	$2.0M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5893	+0.389%	$9K	$303K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5838	−0.548%	$3K	$620K	10x	as long as short
OKX EDGE-USDT-SWAP	+0.0436%	4h	0.5876	+0.100%	$3.6M	$5.8M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX EDGEUSDC	+0.0462%	4h	0.5887	+0.285%	$14.1M	$3.6M	30x	as long as short
Extended EDGE-USDshort	+0.0488%	1h	0.5868	−0.036%	$27K	$199K	5x
Binance EDGEUSDTlong	+0.0489%	4h	0.5870	long leg	$10.0M	$10.4M	50x
Aster EDGEUSDT	+0.0491%	4h	0.5874	+0.059%	$68K	$132K	5x	as long as short
MEXC EDGE_USDT	+0.0492%	4h	0.5869	−0.020%	$1.1M	$912K	50x	as long as short
Orderly PERP_EDGE_USDC	+0.0698%	4h	0.5866	−0.071%	$3K	—	10x	as long as short