Funding you earn now, next payment 06:00 UTC−0.0362%/8h= −39.6% APRpaid last 24h −0.130%
Price spread now: Backpack against Bybit+0.073%7-day average −0.046% · you sell dearer than you buy
Net, funding: paid 7d − costs−$143as in the Funding arb table
Net, price: spread back to 7d avg − costs−$200as in the Price arb table
costs, in and out, $10k−$2122.116% of the position
Funding, last 7 days+0.688%+$69 on $10k
+Price spread, last 4 days (all we have)−0.274%−$27 · spread now +0.073%, 7d avg −0.046%
=The price spread pays, funding is against you. Backpack is 0.118% dearer against Bybit than usual: you sell high and buy low (spread +0.073% now, against its 7-day average of −0.046%): +$12 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 26 hours. Mind the row above: over the last 7 days funding on this pair paid +0.688%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit EDGEUSDT | 0.5923 | 0.0100 | pay 0.0050% / 4h | 2h 55m | $7.1M | $3.4M | 25x |
| Short | Backpack EDGE_USDC_PERP | 0.5927 | −0.0262 | pay 0.0033% / 1h | 55m 34s | $58K | $114K | 3.3x |
Bybit EDGEUSDT
Backpack EDGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$75.98
- Price spread: +0.073% → −0.046%
- $11.82
- Slippage, 4 orders
- −$190.57
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$275.73
- Costs to cover
- 2.116%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; Backpack: live order book, 33 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 Bybit live order book, 2 min ago | 3.38 bp | 124.3 bp −$124 | 375.4 bp −$3,754 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 33 min ago | 3.11 bp | 14.6 bp −$15 | 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 | −0.0262% | 1h | 0.5927 | +0.073% | $58K | $114K | 3.3x | |
| Lighter EDGE | +0.0096% | 1h | 0.5918 | −0.084% | $43K | $19K | 3x | as long as short |
| Bybit EDGEUSDTlong | +0.0100% | 4h | 0.5923 | long leg | $7.1M | $3.4M | 25x | |
| KuCoin EDGEUSDTM | +0.0100% | 4h | 0.5930 | +0.118% | $2.1M | $2.2M | 50x | as long as short |
| Bitget EDGEUSDT | +0.0100% | 4h | 0.5927 | +0.068% | $4.7M | $1.1M | 20x | as long as short |
| Variational Omni EDGE | +0.0100% | 4h | 0.5923 | +0.008% | $187K | $144K | — | as long as short |
| GRVT EDGE_USDT_Perp | +0.0100% | 4h | 0.5944 | +0.355% | $13K | $2.7M | 10x | as long as short |
| ApeX Omni EDGEUSDT | +0.0100% | 1h | 0.5934 | +0.186% | $9K | $305K | 50x | as long as short |
| SunX EDGE-USDT | +0.0100% | 4h | 0.5898 | −0.422% | $4K | $632K | 10x | as long as short |
| Aster EDGEUSDT | +0.0419% | 4h | 0.5931 | +0.133% | $53K | $155K | 5x | as long as short |
Lighter EDGE
KuCoin EDGEUSDTM
Bitget EDGEUSDT
Variational Omni EDGE
GRVT EDGE_USDT_Perp
ApeX Omni EDGEUSDT
SunX EDGE-USDT
Aster EDGEUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC EDGE_USDT | +0.0502% | 4h | 0.5931 | +0.135% | $1.1M | $811K | 50x | as long as short |
| Extended EDGE-USD | +0.0504% | 1h | 0.5923 | −0.002% | $28K | $82K | 5x | as long as short |
| Binance EDGEUSDT | +0.0507% | 4h | 0.5931 | +0.135% | $10.2M | $10.5M | 50x | as long as short |
| OKX EDGE-USDT-SWAP | +0.0534% | 4h | 0.5934 | +0.186% | $3.7M | $5.8M | 20x | as long as short |
| BloFin EDGE-USDT | +0.0539% | 4h | 0.5931 | +0.135% | $660K | $103K | 50x | as long as short |
| edgeX EDGEUSDC | +0.0566% | 4h | 0.5944 | +0.355% | $14.2M | $3.7M | 30x | as long as short |
| Orderly PERP_EDGE_USDC | +0.0594% | 4h | 0.5928 | +0.084% | $3K | $1K | 10x | as long as short |
MEXC EDGE_USDT
Extended EDGE-USD
Binance EDGEUSDT
OKX EDGE-USDT-SWAP
BloFin EDGE-USDT
edgeX EDGEUSDC
Orderly PERP_EDGE_USDC