Funding you earn now, next payment 22:00 UTC−0.0301%/8h= −33.0% APRpaid last 24h −0.112%
Price spread now: Backpack against Variational Omni+0.147%7-day average −0.099% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.066%−$7 on $10k
+Price spread, last 3 days (all we have)−0.499%−$50 · spread now +0.147%, 7d avg −0.099%
=Together, before fees−0.565%+ Points / potential airdropVariational Omni: Active · farm board−$56 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Backpack is 0.246% dearer against Variational Omni than usual: you sell high and buy low (spread +0.147% now, against its 7-day average of −0.099%): +$25 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 3 days (−0.066% in total) that is about 12 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.066% in total (about -7.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni EDGE | 0.5876 | 0.0100 | pay 0.0050% / 4h | 2h 19m | $191K | $130K | — |
| Short | Backpack EDGE_USDC_PERP | 0.5884 | −0.0201 | pay 0.0025% / 1h | 19m 10s | $59K | $100K | 3.3x |
Variational Omni EDGE
Backpack EDGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Variational Omni. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$63.25
- Price spread: +0.147% → −0.099%
- $24.63
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$48.63
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 5 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 Variational Omni RFQ quote, 5 min ago | 9.38 bp | doesn't fit | 449.5 bp −$4,495 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack EDGE_USDC_PERPshort | −0.0201% | 1h | 0.5884 | +0.147% | $59K | $100K | 3.3x | |
| Lighter EDGE | +0.0096% | 1h | 0.5870 | −0.103% | $55K | $9K | 3x | as long as short |
| Bybit EDGEUSDT | +0.0100% | 4h | 0.5880 | +0.074% | $7.0M | $3.2M | 25x | as long as short |
| Bitget EDGEUSDT | +0.0100% | 4h | 0.5880 | +0.074% | $4.7M | $990K | 20x | as long as short |
| Variational Omni EDGElong | +0.0100% | 4h | 0.5876 | long leg | $191K | $130K | — | |
| GRVT EDGE_USDT_Perp | +0.0100% | 4h | 0.5878 | +0.034% | $2K | $1.7M | 10x | as long as short |
| ApeX Omni EDGEUSDT | +0.0100% | 1h | 0.5894 | +0.312% | $8K | $295K | 50x | as long as short |
| SunX EDGE-USDT | +0.0100% | 4h | 0.5843 | −0.556% | $3K | $604K | 10x | as long as short |
| KuCoin EDGEUSDTM | +0.0140% | 4h | 0.5883 | +0.125% | $2.1M | $2.3M | 50x | as long as short |
| edgeX EDGEUSDC | +0.0356% | 4h | 0.5880 | +0.079% | $14.1M | $3.4M | 30x | as long as short |
Lighter EDGE
Bybit EDGEUSDT
Bitget EDGEUSDT
GRVT EDGE_USDT_Perp
ApeX Omni EDGEUSDT
SunX EDGE-USDT
KuCoin EDGEUSDTM
edgeX EDGEUSDCShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC EDGE_USDT | +0.0390% | 4h | 0.5884 | +0.142% | $1.2M | $929K | 50x | as long as short |
| Aster EDGEUSDT | +0.0390% | 4h | 0.5871 | −0.081% | $67K | $134K | 5x | as long as short |
| Binance EDGEUSDT | +0.0391% | 4h | 0.5884 | +0.149% | $10.0M | $10.0M | 50x | as long as short |
| Extended EDGE-USD | +0.0392% | 1h | 0.5884 | +0.149% | $27K | $230K | 5x | as long as short |
| BloFin EDGE-USDT | +0.0394% | 4h | 0.5885 | +0.159% | $631K | $126K | 50x | as long as short |
| OKX EDGE-USDT-SWAP | +0.0403% | 4h | 0.5894 | +0.312% | $3.6M | $5.8M | 20x | as long as short |
| Orderly PERP_EDGE_USDC | +0.0450% | 4h | 0.5887 | +0.193% | $3K | — | 10x | as long as short |
MEXC EDGE_USDT
Aster EDGEUSDT
Binance EDGEUSDT
Extended EDGE-USD
BloFin EDGE-USDT
OKX EDGE-USDT-SWAP
Orderly PERP_EDGE_USDC