Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0170%/8h= +18.7% APRpaid last 24h +0.128%

Price spread now: Bitget against Backpack+0.035%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1071.067% of the position

Long on Backpack Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.689%−$69 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now +0.035%, 7d avg +0.073%

Together, before fees−0.642%−$64 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.038% cheaper against Backpack than usual: you would sell low and buy high (spread +0.035% now, against its 7-day average of +0.073%). If the spread goes back, that is −$4 on $10k: about 18 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.689%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack EDGE_USDC_PERP	0.5959	−0.0070	get 0.0009% / 1h	2m 48s	$58K	$111K	3.3x
Short	Bitget EDGEUSDT	0.5961	0.0100	get 0.0050% / 4h	2m 48s	$4.7M	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.035%Rate

Funding earned: $35.79
Price spread: +0.035% → +0.073%: −$3.8
Slippage, 4 orders: −$84.72
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$74.74
Costs to cover: 1.067%
Break-even: 21.6 days

Slippage from Backpack: live order book, 31 min ago; Bitget: live order book, 5 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, 31 min ago	3.01 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	7.58 bp	31.3 bp −$31	330.3 bp −$3,303	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
Backpack EDGE_USDC_PERPlong	−0.0070%	1h	0.5959	long leg	$58K	$111K	3.3x
Lighter EDGE	+0.0096%	1h	0.5949	−0.171%	$43K	$19K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5951	−0.133%	$7.1M	$3.4M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5952	−0.116%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDTshort	+0.0100%	4h	0.5961	+0.035%	$4.7M	$1.1M	20x
Variational Omni EDGE	+0.0100%	4h	0.5933	−0.435%	$188K	$136K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5944	−0.258%	$10K	$2.4M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5953	−0.099%	$9K	$305K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5920	−0.653%	$4K	$626K	10x	as long as short
edgeX EDGEUSDC	+0.0357%	4h	0.5950	−0.153%	$14.2M	$3.6M	30x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin EDGE-USDT	+0.0396%	4h	0.5961	+0.035%	$664K	$103K	50x	as long as short
OKX EDGE-USDT-SWAP	+0.0420%	4h	0.5967	+0.136%	$3.7M	$5.8M	20x	as long as short
MEXC EDGE_USDT	+0.0426%	4h	0.5960	+0.018%	$1.1M	$903K	50x	as long as short
Extended EDGE-USD	+0.0440%	1h	0.5953	−0.093%	$30K	$193K	5x	as long as short
Binance EDGEUSDT	+0.0441%	4h	0.5959	+0.002%	$10.2M	$10.5M	50x	as long as short
Aster EDGEUSDT	+0.0448%	4h	0.5961	+0.040%	$58K	$152K	5x	as long as short
Orderly PERP_EDGE_USDC	+0.0561%	4h	0.5956	−0.049%	$3K	$359	10x	as long as short