PEARL

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	ExtendedPEARL-USD	1.7674	+0.1336	pay 0.0167% / 1h	9m 12s	$115K	$132K	5x	Long Extended10% off
SHORT	edgeXPEARLUSDC	1.7671	+0.0059	get 0.0030% / 4h	1h 09m	$8K	$197K	5x	Short edgeX

Price gap−0.020%

Funding gap−0.1277% /8h

The gap pays +$10 on $10k if it goes back to its 7d average, but funding costs $38 a day and eats that in about 6 hours.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$110−0.1277% /8h now · paid −1.104% over the last 4 days (all we have)

Price+$10spread −0.020% now, avg −0.119% → +0.099% if it goes back

Costs−$2012.009% of $10k · taker + slippage, in and out

Result−$301−3.01%+ Points / potential airdropExtended: points · edgeX: points · farm boardWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.020%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

PEARL on 3 exchanges

lowest funding first

Before you open

3 ok · 3 to watch

Watch: Thin at this size27.2 / 72.9 bp
At $10k entering edgeX costs 72.9 bp, fee and slippage, 2.7× Extended’s.
Note: Margin at max leverage$2,000 + $2,000
Extended 5x, edgeX 5x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ1h / 4h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$38.31Long Extended: 24 payments, −$40.08; short edgeX: 6 payments, +$1.77.
OK: Entry gap works for you−0.020% vs −0.119%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Short leg is thinner$8K vs $115K OI
edgeX sets your exit cost. Check its book before closing.
OK: Points on a legExtended points · edgeX points
Volume here counts toward the points program.
OK: No KYC on either legExtended No · edgeX No
Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0931%/8h × 21 periods−$195.60

Price spread−0.020% → −0.119% (7d avg)+$9.94

Slippage, 4 orderslive order books−$186.92

Fee Extended bp × 2 orders−$5.00

Fee edgeX bp × 2 orders−$9.00

Net · 7 days · $10k−$386.58

Costs to cover2.009%Break-evennever at this rate

Slippage: Extended: live order book, 28 min ago; edgeX: live order book, 29 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGExtended2.8427.2 bp−$27234.6 bp−$2,346doesn’t fitdoesn’t fit

SELL · SHORTedgeX5.1472.9 bp−$73doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

PEARL news

posts that mention PEARL, from every exchangeSearch all news →

10-22 10:09	edgeX	Listing	new market PEARLUSDC ($PEARL) seen by our collector
10-22 10:08	edgeX	Listing	New Crypto Perp Listings on edgeX $PEARL Layer 1 blockchain where mining is a by-product of useful AI computation. $AXIS Self-improving data engine for Physical AI. Your next Mystery Box starts with a trade @edgeX_exchange on X ↗
10-16 16:58	Extended	Listing	Now available to trade: $PEARL (Pearl Research) with up to 5x leverage @extendedapp on X ↗
10-16 16:55	Extended	Listing	new market PEARL-USD ($PEARL) seen by our collector
10-14 18:32	Entropy	Other	2/ PEARL is currently an illiquid asset. We have applied pre-listing methodologies to the current listing, and will transition to a standard crypto perp when more liquid venues exist. More on our exact methodology can be found in our Docs. @entropyIO on X ↗
10-14 18:32	Entropy	Listing	1/ We are excited to list PEARL, and are extremely aligned with our friends @prlnet in their mission to make the frontier of inference more useful and efficient. @entropyIO on X ↗