Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0480%/8h= +52.6% APRpaid last 24h +0.117%

Price spread now: Backpack against edgeX+0.149%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on edgeX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 4 days (all we have)−0.416%−$42 · spread now +0.149%, 7d avg +0.063%

Together, before fees−0.269%+ Points / potential airdropedgeX: Active · farm board−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Backpack is 0.086% dearer against edgeX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.063%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.147% in total (about 7.7% 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	edgeX ARBUSDC	0.2176	0.0100	pay 0.0050% / 4h	3h 02m	$38K	$464K	20x
Short	Backpack ARB_USDC_PERP	0.2179	0.0580	get 0.0073% / 1h	2m 21s	$978K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against edgeX. 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 edgeXbpFee BackpackbpOrdersPrice spread, now +0.149%Rate

Funding earned: $100.88
Price spread: +0.149% → +0.063%: $8.56
Slippage, 4 orders: −$34.55
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: $55.89
Costs to cover: 0.536%
Break-even: 3.1 days

Slippage from edgeX: live order book, 51 min ago; Backpack: live order book, 2 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 edgeX live order book, 51 min ago	11.36 bp	17.7 bp −$18	94.6 bp −$946	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	0.46 bp	7.1 bp −$7	350.4 bp −$3,504	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1589%	1h	0.2172	−0.177%	$39K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0191%	1h	0.2177	+0.053%	$71K	$2.1M	10x	as long as short
OKX ARB-USDT-SWAP	−0.0097%	8h	0.2176	−0.003%	$21.7M	$141.7M	50x	as long as short
MEXC ARB_USDT	−0.0096%	8h	0.2177	+0.076%	$41.0M	$61.1M	200x	as long as short
Variational Omni ARB	−0.0090%	8h	0.2173	−0.110%	$1.7M	$3.0M	—	as long as short
Orderly PERP_ARB_USDC	−0.0063%	8h	0.2177	+0.053%	$12K	$408K	10x	as long as short
Bybit ARBUSDT	−0.0057%	8h	0.2175	−0.021%	$54.4M	$123.6M	50x	as long as short
Kraken Futures PF_ARBUSD	−0.0051%	1h	0.2178	+0.100%	$1.0M	$4.4M	50x	as long as short
01 Exchange ARBUSD	−0.0040%	1h	0.2175	−0.039%	$7K	$1K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2176	−0.013%	$64K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2177	+0.071%	$24K	$31K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0009%	1h	0.2178	+0.076%	$44K	—	150x	as long as short
Gate ARB_USDT	+0.0006%	8h	0.2177	+0.048%	$5.3M	$18.3M	60x	as long as short
Bitget ARBUSDT	+0.0049%	8h	0.2175	−0.039%	$20.7M	$34.1M	50x	as long as short
BingX ARB-USDC	+0.0061%	8h	0.2177	+0.039%	—	$6.5M	—	as long as short
Extended ARB-USD	+0.0064%	1h	0.2176	−0.016%	$347K	$2.7M	25x	as long as short
Binance ARBUSDT	+0.0067%	8h	0.2177	+0.053%	$62.7M	$300.4M	75x	as long as short
Lighter ARB	+0.0096%	1h	0.2176	+0.025%	$1.2M	$5.5M	15x	as long as short
Aevo ARB-PERP	+0.0096%	1h	0.2177	+0.076%	$138K	$7K	3x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2178	+0.099%	$36.8M	$48.8M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2178	+0.080%	$627K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2176	+0.002%	$42K	$160K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2177	+0.057%	$19.4M	$14.5M	75x	as long as short
edgeX ARBUSDClong	+0.0100%	4h	0.2176	long leg	$38K	$464K	20x
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2176	+0.007%	$472K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2171	−0.223%	$117K	$283K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2179	+0.144%	$2K	$1.1M	30x	as long as short
SoDEX ARB-USD	+0.0100%	1h	0.2177	+0.030%	$10K	$2.2M	5x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2177	+0.053%	$294K	$880K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2177	+0.053%	$4.9M	$12.8M	50x	as long as short
RISEx ARB/USDC	+0.0118%	1h	0.2176	−0.009%	$438K	$2.6M	10x	as long as short
BloFin ARB-USDT	+0.0187%	8h	0.2176	+0.025%	$3.1M	$2.5M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0256%	1h	0.2180	+0.190%	$499K	$1.6M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0277% / S −0.0160%	1h	0.2177	+0.041%	$826K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2177	+0.064%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERPshort	+0.0580%	1h	0.2179	+0.149%	$978K	$2.8M	20x