Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h −0.056%

Price spread now: Lighter against Binance−0.314%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.231%−$23 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Lighter is 0.314% cheaper against Binance than usual: you would sell low and buy high (−$31 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance EDGEUSDT	0.5831	0.0194	pay 0.0097% / 4h	2h 52m	$9.9M	$10.0M	50x
Short	Lighter EDGE	0.5813	0.0096	get 0.0012% / 1h	52m 37s	$54K	$9K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now −0.314%Rate

Funding earned: −$20.48
Price spread: −0.314% → 0.000%: −$31.38
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$61.86
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 2 min ago; Lighter: no order-book sample. 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 Binance live order book, 2 min ago	1.72 bp	27.0 bp −$27	247.7 bp −$2,477	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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_PERP	−0.0721%	1h	0.5829	−0.039%	$59K	$100K	3.3x	as long as short
Lighter EDGEshort	+0.0096%	1h	0.5813	−0.314%	$54K	$9K	3x
Bybit EDGEUSDT	+0.0100%	4h	0.5820	−0.189%	$6.9M	$3.2M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5823	−0.137%	$2.1M	$2.3M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5827	−0.069%	$4.6M	$986K	20x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5819	−0.198%	$190K	$130K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5832	+0.017%	$6K	$1.7M	10x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.6093	+4.493%	$4K	$598K	10x	as long as short
ApeX Omni EDGEUSDT	+0.0147%	1h	0.5844	+0.223%	$2K	$293K	50x	as long as short
OKX EDGE-USDT-SWAP	+0.0168%	4h	0.5835	+0.069%	$3.6M	$5.7M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster EDGEUSDT	+0.0168%	4h	0.5829	−0.041%	$67K	$134K	5x	as long as short
BloFin EDGE-USDT	+0.0176%	4h	0.5832	+0.017%	$632K	$125K	50x	as long as short
edgeX EDGEUSDC	+0.0193%	4h	0.5832	+0.012%	$13.9M	$3.4M	30x	as long as short
Binance EDGEUSDTlong	+0.0194%	4h	0.5831	long leg	$9.9M	$10.0M	50x
MEXC EDGE_USDT	+0.0196%	4h	0.5832	+0.017%	$1.2M	$918K	50x	as long as short
Extended EDGE-USD	+0.0200%	1h	0.5825	−0.103%	$26K	$230K	5x	as long as short
Orderly PERP_EDGE_USDC	+0.0364%	4h	0.5827	−0.069%	$3K	—	10x	as long as short