Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0493%/8h= +54.0% APRpaid last 24h +0.189%

Price spread now: edgeX against Backpack+0.190%7-day average +0.145% · you sell dearer than you buy

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$930.935% of the position

Long on Backpack Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.547%−$55 on $10k

Price spread, last 4 days (all we have)−0.712%−$71 · spread now +0.190%, 7d avg +0.145%

Together, before fees−1.259%+ Points / potential airdropedgeX: Active · farm board−$126 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and edgeX is 0.045% dearer against Backpack than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.145%. Mind the row above: over the last 7 days funding on this pair cost −0.547%, 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	0.5995	0.0100	pay 0.0013% / 1h	54m 48s	$58K	$122K	3.3x
Short	edgeX EDGEUSDC	0.6006	0.0593	get 0.0297% / 4h	3h 54m	$14.5M	$3.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.190%Rate

Funding earned: $103.61
Price spread: +0.190% → +0.145%: $4.5
Slippage, 4 orders: −$74.47
Fee Backpack: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $14.65
Costs to cover: 0.935%
Break-even: 6.0 days

Slippage from Backpack: live order book, 19 min ago; edgeX: live order book, 4 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, 19 min ago	3.09 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 4 min ago	4.98 bp	38.8 bp −$39	116.9 bp −$1,169	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	0.5981	−0.225%	$44K	$22K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5983	−0.199%	$7.3M	$3.4M	25x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5994	−0.015%	$4.8M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERPlong	+0.0100%	1h	0.5995	long leg	$58K	$122K	3.3x
Variational Omni EDGE	+0.0100%	4h	0.5993	−0.040%	$189K	$145K	—	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.6010	+0.252%	$9K	$296K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5945	−0.832%	$4K	$645K	10x	as long as short
KuCoin EDGEUSDTM	+0.0192%	4h	0.5993	−0.032%	$2.1M	$2.2M	50x	as long as short
GRVT EDGE_USDT_Perp	+0.0302%	4h	0.6007	+0.206%	$5K	$3.2M	10x	as long as short
Aster EDGEUSDT	+0.0375%	4h	0.5997	+0.039%	$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
BloFin EDGE-USDT	+0.0518%	4h	0.5994	−0.015%	$671K	$106K	50x	as long as short
MEXC EDGE_USDT	+0.0566%	4h	0.5996	+0.018%	$1.1M	$717K	50x	as long as short
Binance EDGEUSDT	+0.0568%	4h	0.5992	−0.048%	$10.4M	$11.0M	50x	as long as short
Extended EDGE-USD	+0.0568%	1h	0.5994	−0.018%	$29K	$267K	5x	as long as short
edgeX EDGEUSDCshort	+0.0593%	4h	0.6006	+0.190%	$14.5M	$3.7M	30x
OKX EDGE-USDT-SWAP	+0.0595%	4h	0.5994	−0.015%	$3.8M	$6.2M	20x	as long as short
Orderly PERP_EDGE_USDC	+0.0655%	4h	0.5993	−0.032%	$2K	$1K	10x	as long as short