Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.052%

Price spread now: Extended against Bybit+0.100%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$327as in the Funding arb table

Net, price: spread back to 7d avg − costs−$343as in the Price arb table

costs, in and out, $10k−$3503.499% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.227%+$23 on $10k

Price spread, last 4 days (all we have)−0.139%−$14 · spread now +0.100%, 7d avg +0.030%

Together, before fees+0.088%+ Points / potential airdropExtended: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Extended is 0.070% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EDGEUSDT	0.5843	0.0100	pay 0.0050% / 4h	2h 58m	$6.9M	$3.3M	25x
Short	Extended EDGE-USD	0.5849	0.0192	get 0.0024% / 1h	58m 17s	$26K	$230K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.100%Rate

Funding earned: $19.32
Price spread: +0.100% → +0.030%: $6.98
Slippage, 4 orders: −$333.92
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$323.62
Costs to cover: 3.499%
Break-even: 124.3 days

Slippage from Bybit: live order book, 5 min ago; Extended: live order book, 28 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 Bybit live order book, 5 min ago	5.14 bp	105.0 bp −$105	421.5 bp −$4,215	doesn't fit	doesn't fit
Sell Extended live order book, 28 min ago	5.52 bp	109.2 bp −$109	doesn't fit	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_PERP	−0.0194%	1h	0.5849	+0.106%	$59K	$100K	3.3x	as long as short
Lighter EDGE	+0.0096%	1h	0.5837	−0.094%	$54K	$9K	3x	as long as short
Bybit EDGEUSDTlong	+0.0100%	4h	0.5843	long leg	$6.9M	$3.3M	25x
KuCoin EDGEUSDTM	+0.0100%	4h	0.5849	+0.103%	$2.1M	$2.3M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5846	+0.051%	$4.7M	$983K	20x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5835	−0.144%	$190K	$130K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5849	+0.107%	$10K	$1.7M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5855	+0.205%	$1K	$292K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.6118	+4.706%	$4K	$597K	10x	as long as short
edgeX EDGEUSDC	+0.0139%	4h	0.5850	+0.123%	$14.0M	$3.4M	30x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster EDGEUSDT	+0.0162%	4h	0.5848	+0.086%	$67K	$134K	5x	as long as short
MEXC EDGE_USDT	+0.0178%	4h	0.5853	+0.171%	$1.2M	$918K	50x	as long as short
BloFin EDGE-USDT	+0.0184%	4h	0.5859	+0.274%	$635K	$125K	50x	as long as short
Extended EDGE-USDshort	+0.0192%	1h	0.5849	+0.100%	$26K	$230K	5x
Binance EDGEUSDT	+0.0193%	4h	0.5852	+0.154%	$9.9M	$10.0M	50x	as long as short
OKX EDGE-USDT-SWAP	+0.0196%	4h	0.5857	+0.240%	$3.6M	$5.7M	20x	as long as short
Orderly PERP_EDGE_USDC	+0.0361%	4h	0.5850	+0.120%	$3K	—	10x	as long as short