Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.119%

Price spread now: Backpack against KuCoin−0.017%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.740%+$74 on $10k

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.740%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin EDGEUSDTM	0.5858	0.0168	pay 0.0084% / 4h	1h 22m	$2.1M	$2.3M	50x
Short	Backpack EDGE_USDC_PERP	0.5857	0.0100	get 0.0013% / 1h	22m 55s	$59K	$100K	3.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$14.28
Price spread: −0.017% → 0.000%: −$1.71
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$37.99
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; Backpack: 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 KuCoin live order book, 4 min ago	5.15 bp	237.3 bp −$237	997.8 bp −$9,978	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

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
Lighter EDGE	+0.0096%	1h	0.5841	−0.290%	$54K	$8K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5850	−0.137%	$6.9M	$3.3M	25x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5856	−0.034%	$4.7M	$1.0M	20x	as long as short
Backpack EDGE_USDC_PERPshort	+0.0100%	1h	0.5857	−0.017%	$59K	$100K	3.3x
Variational Omni EDGE	+0.0100%	4h	0.5825	−0.567%	$189K	$130K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5838	−0.348%	$12K	$1.8M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5846	−0.205%	$8K	$294K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5810	−0.819%	$4K	$609K	10x	as long as short
KuCoin EDGEUSDTMlong	+0.0168%	4h	0.5858	long leg	$2.1M	$2.3M	50x
MEXC EDGE_USDT	+0.0450%	4h	0.5860	+0.034%	$1.2M	$920K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EDGE-USD	+0.0456%	1h	0.5856	−0.036%	$27K	$230K	5x	as long as short
Binance EDGEUSDT	+0.0457%	4h	0.5861	+0.056%	$10.0M	$10.1M	50x	as long as short
Aster EDGEUSDT	+0.0469%	4h	0.5866	+0.144%	$67K	$136K	5x	as long as short
BloFin EDGE-USDT	+0.0485%	4h	0.5865	+0.119%	$635K	$125K	50x	as long as short
edgeX EDGEUSDC	+0.0514%	4h	0.5834	−0.412%	$13.9M	$3.4M	30x	as long as short
OKX EDGE-USDT-SWAP	+0.0518%	4h	0.5867	+0.154%	$3.6M	$5.8M	20x	as long as short
Orderly PERP_EDGE_USDC	+0.0558%	4h	0.5857	−0.017%	$3K	—	10x	as long as short