Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.134%

Price spread now: ApeX Omni against Backpack+0.657%84s7-day average +0.142% · you sell dearer than you buy

Net, funding: paid 7d − costs−$439as in the Funding arb table

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

costs, in and out, $10k−$3743.744% of the position

Long on Backpack Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.645%−$65 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now +0.657%, 7d avg +0.142%

Together, before fees−0.537%−$54 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: ApeX Omni is 0.515% dearer against Backpack than usual: you sell high and buy low, +$51 on $10k if it goes back to its 7-day average of +0.142%. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack EDGE_USDC_PERP	0.6017	0.0100	pay 0.0013% / 1h	40m 09s	$57K	$123K	3.3x
Short	ApeX Omni EDGEUSDT	0.6056	0.0100	get 0.0013% / 1h	40m 09s	$9K	$295K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Backpack. 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 BackpackbpFee ApeX OmnibpOrdersPrice spread, now +0.657%Rate

Funding earned: $0
Price spread: +0.657% → +0.142%: $51.45
Slippage, 4 orders: −$354.41
Fee Backpack: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$322.96
Costs to cover: 3.744%
Break-even: never at this rate

Slippage from Backpack: live order book, 39 min ago; ApeX Omni: live order book, 62 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 Backpack live order book, 39 min ago	3.98 bp	12.5 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 62 min ago	14.15 bp	166.6 bp −$167	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	0.6004	−0.203%	$44K	$22K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.6005	−0.191%	$7.3M	$3.4M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.6018	+0.025%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.6006	−0.175%	$4.8M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERPlong	+0.0100%	1h	0.6017	long leg	$57K	$123K	3.3x
Variational Omni EDGE	+0.0100%	4h	0.6047	+0.504%	$191K	$145K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.6053	+0.605%	$9K	$3.1M	10x	as long as short
ApeX Omni EDGEUSDTshort	+0.0100%	1h	0.6056	+0.657%	$9K	$295K	50x
SunX EDGE-USDT	+0.0100%	4h	0.5970	−0.773%	$3K	$644K	10x	as long as short
Aster EDGEUSDT	+0.0273%	4h	0.6020	+0.063%	$53K	$153K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX EDGE-USDT-SWAP	+0.0360%	4h	0.6019	+0.042%	$3.8M	$6.1M	20x	as long as short
edgeX EDGEUSDC	+0.0365%	4h	0.6060	+0.731%	$14.5M	$3.7M	30x	as long as short
Extended EDGE-USD	+0.0448%	1h	0.6016	−0.011%	$32K	$269K	5x	as long as short
MEXC EDGE_USDT	+0.0448%	4h	0.6013	−0.058%	$1.1M	$759K	50x	as long as short
Binance EDGEUSDT	+0.0449%	4h	0.6013	−0.053%	$10.4M	$10.9M	50x	as long as short
BloFin EDGE-USDT	+0.0461%	4h	0.6052	+0.590%	$676K	$107K	50x	as long as short
Orderly PERP_EDGE_USDC	+0.0627%	4h	0.6013	−0.058%	$3K	$1K	10x	as long as short