Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0659%/8h= +72.2% APRpaid last 24h +0.104%

Price spread now: Orderly against ApeX Omni+0.340%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Orderly is 0.340% dearer against ApeX Omni than usual: you sell high and buy low: +$34 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni EDGEUSDT	0.5888	0.0100	pay 0.0013% / 1h	42m 33s	$12K	$301K	50x
Short	Orderly PERP_EDGE_USDC	0.5908	0.0759	get 0.0380% / 4h	2h 42m	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.340%Rate

Funding earned: $138.4
Price spread: +0.340% → 0.000%: $33.97
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $156.37
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: ApeX Omni: live order book, 25 min ago; Orderly: no order-book sample. Net counts fees only.

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, 25 min ago	9.14 bp	166.1 bp −$166	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.5871	−0.292%	$48K	$13K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5877	−0.187%	$7.0M	$3.4M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5895	+0.119%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5890	+0.034%	$4.7M	$1.0M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5901	+0.229%	$59K	$102K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5872	−0.279%	$190K	$126K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5889	+0.011%	$2K	$1.9M	10x	as long as short
ApeX Omni EDGEUSDTlong	+0.0100%	1h	0.5888	long leg	$12K	$301K	50x
SunX EDGE-USDT	+0.0100%	4h	0.5876	−0.204%	$3K	$620K	10x	as long as short
OKX EDGE-USDT-SWAP	+0.0404%	4h	0.5888	0.000%	$3.6M	$5.8M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX EDGEUSDC	+0.0425%	4h	0.5890	+0.039%	$14.1M	$3.6M	30x	as long as short
BloFin EDGE-USDT	+0.0503%	4h	0.5887	−0.017%	$655K	$97K	50x	as long as short
Aster EDGEUSDT	+0.0509%	4h	0.5900	+0.206%	$68K	$132K	5x	as long as short
MEXC EDGE_USDT	+0.0526%	4h	0.5884	−0.068%	$1.1M	$910K	50x	as long as short
Binance EDGEUSDT	+0.0527%	4h	0.5884	−0.068%	$10.0M	$10.4M	50x	as long as short
Extended EDGE-USD	+0.0528%	1h	0.5878	−0.177%	$27K	$188K	5x	as long as short
Orderly PERP_EDGE_USDCshort	+0.0759%	4h	0.5908	+0.340%	$3K	—	10x