Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0177%/8h= −19.4% APRpaid last 24h −0.029%

Price spread now: Extended against Orderly−0.060%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Extended

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 airdropExtended: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Extended is 0.060% cheaper against Orderly than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_EDGE_USDC	0.5941	0.0649	pay 0.0325% / 4h	1h 17m	$3K	—	10x
Short	Extended EDGE-USD	0.5937	0.0472	get 0.0059% / 1h	17m 08s	$27K	$194K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Orderly. 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 OrderlybpFee ExtendedbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$37.26
Price spread: −0.060% → 0.000%: −$5.97
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$54.22
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Extended: live order book, 44 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Extended live order book, 44 min ago	3.65 bp	85.5 bp −$86	doesn't fit	doesn't fit	doesn't fit

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 EDGE	+0.0096%	1h	0.5936	−0.081%	$43K	$19K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5934	−0.118%	$7.1M	$3.3M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5937	−0.067%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5939	−0.034%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5938	−0.054%	$60K	$105K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5959	+0.310%	$190K	$135K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5961	+0.339%	$982	$2.2M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5969	+0.471%	$9K	$306K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.6216	+4.629%	$4K	$621K	10x	as long as short
BloFin EDGE-USDT	+0.0468%	4h	0.5941	0.000%	$655K	$101K	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-USDshort	+0.0472%	1h	0.5937	−0.060%	$27K	$194K	5x
MEXC EDGE_USDT	+0.0474%	4h	0.5941	0.000%	$1.2M	$901K	50x	as long as short
Binance EDGEUSDT	+0.0475%	4h	0.5941	0.000%	$10.1M	$10.3M	50x	as long as short
Aster EDGEUSDT	+0.0515%	4h	0.5947	+0.106%	$68K	$128K	5x	as long as short
OKX EDGE-USDT-SWAP	+0.0539%	4h	0.5943	+0.034%	$3.7M	$5.8M	20x	as long as short
edgeX EDGEUSDC	+0.0555%	4h	0.5963	+0.365%	$14.3M	$3.6M	30x	as long as short
Orderly PERP_EDGE_USDClong	+0.0649%	4h	0.5941	long leg	$3K	—	10x