Funding arb · Price arb /

EDGE

all EDGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.134%

Price spread now: Backpack against ApeX Omni+0.195%7-day average −0.139% · you sell dearer than you buy

Net, funding: paid 7d − costs−$320as in the Funding arb table

Net, price: spread back to 7d avg − costs−$351as in the Price arb table

costs, in and out, $10k−$3843.844% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.640%+$64 on $10k

Price spread, last 4 days (all we have)−0.722%−$72 · spread now +0.195%, 7d avg −0.139%

Together, before fees−0.081%−$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.335% dearer against ApeX Omni than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of −0.139%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni EDGEUSDT	0.5989	0.0100	pay 0.0013% / 1h	50m 37s	$9K	$296K	50x
Short	Backpack EDGE_USDC_PERP	0.6001	0.0100	get 0.0013% / 1h	50m 37s	$58K	$122K	3.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX Omni. 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now +0.195%Rate

Funding earned: $0
Price spread: +0.195% → −0.139%: $33.46
Slippage, 4 orders: −$364.37
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$350.92
Costs to cover: 3.844%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 47 min ago; Backpack: live order book, 23 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 ApeX Omni live order book, 47 min ago	15.76 bp	161.3 bp −$161	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 23 min ago	3.09 bp	23.5 bp −$23	doesn't fit	doesn't fit	doesn't fit

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
Lighter EDGE	+0.0096%	1h	0.5988	−0.008%	$44K	$22K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5991	+0.033%	$7.3M	$3.4M	25x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5997	+0.134%	$4.8M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERPshort	+0.0100%	1h	0.6001	+0.195%	$58K	$122K	3.3x
Variational Omni EDGE	+0.0100%	4h	0.5985	−0.067%	$189K	$145K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5982	−0.117%	$9K	$3.2M	10x	as long as short
ApeX Omni EDGEUSDTlong	+0.0100%	1h	0.5989	long leg	$9K	$296K	50x
SunX EDGE-USDT	+0.0100%	4h	0.5952	−0.618%	$4K	$645K	10x	as long as short
KuCoin EDGEUSDTM	+0.0204%	4h	0.5995	+0.100%	$2.1M	$2.2M	50x	as long as short
Aster EDGEUSDT	+0.0374%	4h	0.5999	+0.166%	$52K	$152K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC EDGE_USDT	+0.0558%	4h	0.6003	+0.234%	$1.1M	$717K	50x	as long as short
Binance EDGEUSDT	+0.0559%	4h	0.6004	+0.250%	$10.4M	$11.0M	50x	as long as short
BloFin EDGE-USDT	+0.0560%	4h	0.6000	+0.184%	$671K	$106K	50x	as long as short
Extended EDGE-USD	+0.0560%	1h	0.6001	+0.200%	$29K	$267K	5x	as long as short
edgeX EDGEUSDC	+0.0586%	4h	0.5980	−0.149%	$14.4M	$3.7M	30x	as long as short
OKX EDGE-USDT-SWAP	+0.0601%	4h	0.5998	+0.150%	$3.8M	$6.2M	20x	as long as short
Orderly PERP_EDGE_USDC	+0.0659%	4h	0.5992	+0.050%	$2K	$1K	10x	as long as short