Funding arb · Price arb /

EDGE

all EDGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.1471%/8hpaid last 24h −0.085%

Price spread now: Backpack against Bitget−0.078%7-day average −0.087% · you buy dearer than you sell

to open and close $10k−$102fees + slippage, both legs, in and out

costs, in % of the position1.020%what the two incomes have to cover

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.786%+$79 on $10k

Price spread, last 3 days (all we have)−0.064%−$6 · spread now −0.078%, 7d avg −0.087%

Together, before fees+0.722%+$72 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.087%, so right now this pair is about funding alone: −$44 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.786%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.786% in total (about 41.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget EDGEUSDT	0.6001	0.0100	pay 0.0050% / 4h	45m 53s	$4.8M	$946K	20x
Short	Backpack EDGE_USDC_PERP	0.5996	−0.1371	pay 0.0171% / 1h	45m 53s	$57K	$113K	3.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$308.94
Price spread: −0.078% → −0.087%: $0.89
Slippage, 4 orders: −$80
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$410.05
Costs to cover: 1.020%
Break-even: never at this rate

Slippage from Bitget: live order book, 7 min ago; Backpack: live order book, 6 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 Bitget live order book, 7 min ago	5.85 bp	39.3 bp −$39	349.1 bp −$3,491	doesn't fit	doesn't fit
Sell Backpack live order book, 6 min ago	5.43 bp	16.3 bp −$16	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
Backpack EDGE_USDC_PERPshort	−0.1371%	1h	0.5996	−0.078%	$57K	$113K	3.3x
Lighter EDGE	+0.0096%	1h	0.5986	−0.250%	$56K	$9K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5996	−0.083%	$7.0M	$3.2M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.6004	+0.050%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDTlong	+0.0100%	4h	0.6001	long leg	$4.8M	$946K	20x
Variational Omni EDGE	+0.0100%	4h	0.6000	−0.010%	$180K	$111K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.6011	+0.167%	$2K	$1.4M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.6009	+0.133%	$1K	$288K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.6283	+4.699%	$4K	$579K	10x	as long as short
OKX EDGE-USDT-SWAP	+0.0182%	4h	0.6006	+0.083%	$3.7M	$5.7M	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	+0.0215%	4h	0.6001	+0.003%	$14.3M	$3.5M	30x	as long as short
BloFin EDGE-USDT	+0.0236%	4h	0.6010	+0.150%	$659K	$128K	50x	as long as short
MEXC EDGE_USDT	+0.0292%	4h	0.6003	+0.033%	$1.2M	$916K	50x	as long as short
Binance EDGEUSDT	+0.0292%	4h	0.6003	+0.039%	$10.2M	$9.7M	50x	as long as short
Extended EDGE-USD	+0.0296%	1h	0.6001	+0.002%	$27K	$230K	5x	as long as short
Aster EDGEUSDT	+0.0340%	4h	0.6003	+0.033%	$69K	$131K	5x	as long as short
Orderly PERP_EDGE_USDC	+0.0508%	4h	0.6003	+0.033%	$3K	—	10x	as long as short