Funding arb · Price arb /

APLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0901%/8h= −98.7% APRpaid last 24h −0.072%

Price spread now: edgeX against Binance+0.058%100s7-day average −0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$2152.146% of the position

Long on Binance Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.356%−$36 on $10k

Price spread, last 2 days (all we have)−0.283%−$28 · spread now +0.058%, 7d avg −0.056%

Together, before fees−0.639%+ Points / potential airdropedgeX: Active · farm board−$64 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.114% dearer against Binance than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of −0.056%): +$11 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 4 days (−0.356% in total) that is about 31 hours. The two prices were read 100 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 4 days it paid -0.356% in total (about -32.5% 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	Binance APLDUSDT	28.302	0	get 0.0000% / 8h	7h 51m	$91K	$720K	20x
Short	edgeX APLDUSDC	28.318	−0.0901	pay 0.0451% / 4h	3h 51m	$8K	$268K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Binance. 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 BinancebpFee edgeXbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$189.27
Price spread: +0.058% → −0.056%: $11.36
Slippage, 4 orders: −$195.6
Fee Binance: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$392.51
Costs to cover: 2.146%
Break-even: never at this rate

Slippage from Binance: live order book, 55 min ago; edgeX: live order book, 21 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 Binance live order book, 55 min ago	5.31 bp	89.9 bp −$90	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 21 min ago	14.14 bp	30.4 bp −$30	doesn't fit	doesn't fit	doesn't fit

APLD on 10 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
edgeX APLDUSDCshort	−0.0901%	4h	28.318	+0.058%	$8K	$268K	10x
KuCoin APLDUSDTM	−0.0037%	8h	28.340	+0.134%	$82K	$735K	10x	as long as short
Binance APLDUSDTlong	0.0000%	8h	28.302	long leg	$91K	$720K	20x
Bybit APLDUSDT	0.0000%	8h	28.360	+0.204%	$119K	$141K	25x	as long as short
OKX APLD-USDT-SWAP	0.0000%	8h	28.410	+0.381%	$82K	$43K	10x	as long as short
Gate APLD_USDT	0.0000%	8h	28.300	−0.008%	$5K	$3K	20x	as long as short
Bitget APLDUSDT	0.0000%	8h	28.340	+0.134%	$164K	$341K	20x	as long as short
HTX APLD-USDT	0.0000%	8h	28.310	+0.028%	$7K	$311K	10x	as long as short
Phemex APLDUSDT	0.0000%	8h	28.310	+0.028%	$30K	$58K	10x	as long as short
BloFin APLD-USDT	+0.0019%	8h	28.340	+0.134%	$50K	$3K	20x	as long as short