Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0479%/8h= +52.5% APRpaid last 24h +0.083%

Price spread now: Orderly against Lighter+0.308%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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 for this trade now. Funding pays +$14 a day on $10k at the current rate, and Orderly is 0.308% dearer against Lighter than usual: you sell high and buy low: +$31 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter EDGE	0.5853	0.0096	pay 0.0012% / 1h	12m 51s	$54K	$8K	3x
Short	Orderly PERP_EDGE_USDC	0.5871	0.0575	get 0.0288% / 4h	1h 12m	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Lighter. 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 LighterbpFee OrderlybpOrdersPrice spread, now +0.308%Rate

Funding earned: $100.63
Price spread: +0.308% → 0.000%: $30.75
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $125.38
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; Orderly: 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 Lighter no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Lighter and Orderly: 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 EDGElong	+0.0096%	1h	0.5853	long leg	$54K	$8K	3x
Bybit EDGEUSDT	+0.0100%	4h	0.5863	+0.171%	$6.9M	$3.3M	25x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5871	+0.308%	$4.7M	$999K	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5869	+0.267%	$60K	$100K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5862	+0.158%	$191K	$130K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5871	+0.313%	$12K	$1.8M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5878	+0.427%	$8K	$294K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5828	−0.427%	$3K	$610K	10x	as long as short
KuCoin EDGEUSDTM	+0.0168%	4h	0.5869	+0.273%	$2.1M	$2.3M	50x	as long as short
Extended EDGE-USD	+0.0472%	1h	0.5871	+0.305%	$27K	$230K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC EDGE_USDT	+0.0472%	4h	0.5874	+0.359%	$1.2M	$921K	50x	as long as short
Binance EDGEUSDT	+0.0479%	4h	0.5875	+0.376%	$10.0M	$10.1M	50x	as long as short
Aster EDGEUSDT	+0.0488%	4h	0.5872	+0.325%	$68K	$136K	5x	as long as short
BloFin EDGE-USDT	+0.0491%	4h	0.5878	+0.427%	$632K	$125K	50x	as long as short
OKX EDGE-USDT-SWAP	+0.0537%	4h	0.5875	+0.376%	$3.6M	$5.8M	20x	as long as short
edgeX EDGEUSDC	+0.0550%	4h	0.5875	+0.369%	$14.0M	$3.4M	30x	as long as short
Orderly PERP_EDGE_USDCshort	+0.0575%	4h	0.5871	+0.308%	$3K	—	10x