Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0757%/8h= +82.9% APRpaid last 24h +0.152%

Price spread now: edgeX against Deribit−0.001%75s7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.433% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.433%+$43 on $10k

Price spread, last 3 days (all we have)−0.135%−$13 · spread now −0.001%, 7d avg −0.109%

Together, before fees+0.299%+ Points / potential airdropedgeX: Active · farm board+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and edgeX is 0.108% dearer against Deribit than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.109%. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.433% in total (about 22.6% 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	Deribit FIL_USDC-PERPETUAL	0.9918	−0.0657	get 0.0082% / 1h	10m 08s	$171K	$23K	25x
Short	edgeX FILUSDC	0.9918	0.0100	get 0.0050% / 4h	1h 10m	$45K	$292K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Deribit. 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 DeribitbpFee edgeXbpOrdersPrice spread, now −0.001%Rate

Funding earned: $158.97
Price spread: −0.001% → −0.109%: $10.84
Slippage, 4 orders: −$27.28
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $126.54
Costs to cover: 0.433%
Break-even: 1.4 days

Slippage from Deribit: live order book, 8 min ago; edgeX: live order book, 8 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 Deribit live order book, 8 min ago	3.03 bp	19.7 bp −$20	28.6 bp −$286	doesn't fit	doesn't fit
Sell edgeX live order book, 8 min ago	3.53 bp	8.6 bp −$9	103.1 bp −$1,031	doesn't fit	doesn't fit

FIL on 29 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
Kraken Futures PF_FILUSD	−0.0692%	1h	0.9916	−0.020%	$1.3M	$2.3M	50x	as long as short
Deribit FIL_USDC-PERPETUALlong	−0.0657%	1h	0.9918	long leg	$171K	$23K	25x
Coinbase International FIL-PERP-INTX	−0.0376%	1h	0.9929	+0.111%	$319K	$1.9M	50x	as long as short
Injective FIL/USDC PERP	−0.0252%	1h	0.9855	−0.635%	$2K	$240K	12x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9917	−0.009%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9925	+0.074%	$58K	$2K	10x	as long as short
Bitget FILUSDT	+0.0008%	8h	0.9912	−0.060%	$10.8M	$21.6M	75x	as long as short
KuCoin FILUSDTM	+0.0013%	8h	0.9913	−0.050%	$7.4M	$7.0M	50x	as long as short
Bybit FILUSDT	+0.0033%	8h	0.9916	−0.020%	$15.4M	$18.1M	25x	as long as short
OKX FIL-USDT-SWAP	+0.0039%	8h	0.9912	−0.060%	$18.2M	$98.3M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC FIL_USDC	+0.0076%	8h	0.9909	−0.091%	$252K	$105K	50x	as long as short
Binance FILUSDT	+0.0077%	8h	0.9913	−0.050%	$57.4M	$176.4M	75x	as long as short
BingX FIL-USDT	+0.0078%	8h	0.9916	−0.020%	—	$11.9M	—	as long as short
Extended FIL-USD	+0.0080%	1h	0.9910	−0.081%	$692K	$2.3M	10x	as long as short
Lighter FIL	+0.0096%	1h	0.9909	−0.092%	$159K	$349K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9915	−0.027%	$8.6M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9922	+0.038%	$498K	$525K	20x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9914	−0.040%	$7.9M	$16.3M	50x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9926	+0.082%	$442K	$277K	—	as long as short
edgeX FILUSDCshort	+0.0100%	4h	0.9918	−0.001%	$45K	$292K	10x
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9921	+0.034%	$288K	$790K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9920	+0.020%	$30K	$197K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9922	+0.044%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9910	−0.081%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9913	−0.050%	$488	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9915	−0.030%	$628K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9910	−0.081%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0198%	8h	0.9923	+0.050%	$2.7M	$659K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0600% / S −0.0709%	1h	0.9916	−0.023%	$207K	—	100x	as long as short