Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0002%/8h= −0.3% APRpaid last 24h +0.003%

Price spread now: Binance against Extended+0.119%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$205as in the Funding arb table

Net, price: spread back to 7d avg − costs−$199as in the Price arb table

costs, in and out, $10k−$2052.053% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now +0.119%, 7d avg +0.058%

Together, before fees−0.008%+ Points / potential airdropExtended: Active · farm board−$1 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: Binance is 0.061% dearer against Extended than usual: you sell high and buy low, +$6 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	Extended EDGE-USD	0.5898	0.0464	pay 0.0058% / 1h	45m 03s	$27K	$193K	5x
Short	Binance EDGEUSDT	0.5905	0.0462	get 0.0231% / 4h	1h 45m	$10.1M	$10.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.119%Rate

Funding earned: −$0.5
Price spread: +0.119% → +0.058%: $6.07
Slippage, 4 orders: −$190.28
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$199.72
Costs to cover: 2.053%
Break-even: never at this rate

Slippage from Extended: live order book, 16 min ago; Binance: live order book, 10 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 Extended live order book, 16 min ago	3.65 bp	61.2 bp −$61	504.8 bp −$5,048	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.84 bp	25.4 bp −$25	194.4 bp −$1,944	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
Lighter EDGE	+0.0096%	1h	0.5897	−0.023%	$43K	$19K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5896	−0.034%	$7.1M	$3.3M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5897	−0.017%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5900	+0.034%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5904	+0.095%	$58K	$103K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5900	+0.034%	$192K	$131K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5917	+0.322%	$6K	$2.1M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5919	+0.356%	$9K	$305K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5875	−0.390%	$3K	$618K	10x	as long as short
BloFin EDGE-USDT	+0.0439%	4h	0.5905	+0.119%	$653K	$100K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance EDGEUSDTshort	+0.0462%	4h	0.5905	+0.119%	$10.1M	$10.4M	50x
Extended EDGE-USDlong	+0.0464%	1h	0.5898	long leg	$27K	$193K	5x
OKX EDGE-USDT-SWAP	+0.0468%	4h	0.5901	+0.051%	$3.7M	$5.8M	20x	as long as short
MEXC EDGE_USDT	+0.0470%	4h	0.5902	+0.068%	$1.1M	$900K	50x	as long as short
Aster EDGEUSDT	+0.0484%	4h	0.5918	+0.336%	$68K	$132K	5x	as long as short
edgeX EDGEUSDC	+0.0494%	4h	0.5918	+0.346%	$14.2M	$3.6M	30x	as long as short
Orderly PERP_EDGE_USDC	+0.0680%	4h	0.5905	+0.119%	$3K	—	10x	as long as short