Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0059%/8h= −6.4% APRpaid last 24h +0.027%

Price spread now: Extended against OKX−0.155%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$181as in the Funding arb table

Net, price: spread back to 7d avg − costs−$204as in the Price arb table

costs, in and out, $10k−$1961.961% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.155%, 7d avg −0.076%

Together, before fees+0.243%+ Points / potential airdropExtended: Active · farm board+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Extended is 0.080% cheaper against OKX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.076%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.152%, 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	OKX EDGE-USDT-SWAP	0.5936	0.0515	pay 0.0257% / 4h	3h 31m	$3.7M	$5.8M	20x
Short	Extended EDGE-USD	0.5927	0.0456	get 0.0057% / 1h	31m 50s	$27K	$196K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$12.35
Price spread: −0.155% → −0.076%: −$7.96
Slippage, 4 orders: −$181.06
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$216.38
Costs to cover: 1.961%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Extended: live order book, 20 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 OKX live order book, 1 min ago	3.37 bp	26.5 bp −$27	152.9 bp −$1,529	doesn't fit	doesn't fit
Sell Extended live order book, 20 min ago	2.78 bp	91.3 bp −$91	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
Lighter EDGE	+0.0096%	1h	0.5921	−0.254%	$43K	$19K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5916	−0.337%	$7.1M	$3.3M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5926	−0.168%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5921	−0.253%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5926	−0.177%	$58K	$111K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5915	−0.346%	$190K	$139K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5927	−0.152%	$9K	$2.6M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5933	−0.051%	$9K	$305K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5897	−0.657%	$3K	$624K	10x	as long as short
Aster EDGEUSDT	+0.0422%	4h	0.5927	−0.159%	$55K	$154K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EDGE-USDshort	+0.0456%	1h	0.5927	−0.155%	$27K	$196K	5x
MEXC EDGE_USDT	+0.0456%	4h	0.5932	−0.067%	$1.0M	$864K	50x	as long as short
Binance EDGEUSDT	+0.0457%	4h	0.5933	−0.053%	$10.2M	$10.5M	50x	as long as short
BloFin EDGE-USDT	+0.0459%	4h	0.5925	−0.185%	$657K	$102K	50x	as long as short
OKX EDGE-USDT-SWAPlong	+0.0515%	4h	0.5936	long leg	$3.7M	$5.8M	20x
edgeX EDGEUSDC	+0.0523%	4h	0.5929	−0.120%	$14.2M	$3.7M	30x	as long as short
Orderly PERP_EDGE_USDC	+0.0581%	4h	0.5927	−0.152%	$3K	$359	10x	as long as short