Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0403%/8hnext payment +$2.02 per $10,000 · paid last 24h +0.073%

Price spread now: Orderly against Bitget+0.235%7-day average — · you sell dearer than you buy

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

Long on Bitget 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 +$12 a day on $10k at the current rate, and Orderly is 0.235% dearer against Bitget than usual: you sell high and buy low: +$23 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	Bitget EDGEUSDT	0.5965	0.0100	pay 0.0050% / 4h	45m 03s	$4.7M	$949K	20x
Short	Orderly PERP_EDGE_USDC	0.5979	0.0503	get 0.0252% / 4h	45m 03s	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.235%Rate

Funding earned: $84.66
Price spread: +0.235% → 0.000%: $23.47
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $90.13
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bitget: live order book, 7 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 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 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
Backpack EDGE_USDC_PERP	−0.1393%	1h	0.5968	+0.057%	$57K	$113K	3.3x	as long as short
Lighter EDGE	+0.0096%	1h	0.5960	−0.075%	$55K	$9K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5965	0.000%	$7.0M	$3.2M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5980	+0.251%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDTlong	+0.0100%	4h	0.5965	long leg	$4.7M	$949K	20x
Variational Omni EDGE	+0.0100%	4h	0.5996	+0.518%	$180K	$111K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.6011	+0.771%	$2K	$1.4M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.6009	+0.738%	$1K	$288K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.6263	+4.996%	$4K	$578K	10x	as long as short
OKX EDGE-USDT-SWAP	+0.0176%	4h	0.5974	+0.151%	$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	+0.0194%	4h	0.6008	+0.728%	$14.4M	$3.5M	30x	as long as short
Extended EDGE-USD	+0.0288%	1h	0.5969	+0.069%	$27K	$230K	5x	as long as short
Binance EDGEUSDT	+0.0289%	4h	0.5973	+0.134%	$10.1M	$9.7M	50x	as long as short
MEXC EDGE_USDT	+0.0292%	4h	0.5968	+0.050%	$1.2M	$916K	50x	as long as short
BloFin EDGE-USDT	+0.0317%	4h	0.5980	+0.251%	$657K	$127K	50x	as long as short
Aster EDGEUSDT	+0.0333%	4h	0.5995	+0.504%	$69K	$131K	5x	as long as short
Orderly PERP_EDGE_USDCshort	+0.0503%	4h	0.5979	+0.235%	$3K	—	10x