Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0592%/8h= −64.8% APRpaid last 24h −0.082%

Price spread now: ApeX Omni against Orderly−0.034%50s7-day average — · you buy dearer than you sell

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

Long on Orderly Short on ApeX Omni

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 against this trade now: funding costs −$18 a day on $10k at the current rate, and ApeX Omni is 0.034% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_EDGE_USDC	0.5962	0.0692	pay 0.0346% / 4h	19m 31s	$3K	—	10x
Short	ApeX Omni EDGEUSDT	0.5960	0.0100	get 0.0013% / 1h	19m 31s	$9K	$288K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Orderly. 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 OrderlybpFee ApeX OmnibpOrdersPrice spread, now −0.034%Rate

Funding earned: −$124.24
Price spread: −0.034% → 0.000%: −$3.35
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$143.59
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; ApeX Omni: live order book, 58 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 58 min ago	19.56 bp	195.9 bp −$196	doesn't fit	doesn't fit	doesn't fit

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	−0.0019%	1h	0.5968	+0.109%	$58K	$101K	3.3x	as long as short
Lighter EDGE	+0.0096%	1h	0.5953	−0.149%	$55K	$8K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5966	+0.067%	$7.1M	$3.3M	25x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5966	+0.067%	$4.7M	$1.0M	20x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5956	−0.106%	$192K	$131K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5955	−0.115%	$7K	$1.8M	10x	as long as short
ApeX Omni EDGEUSDTshort	+0.0100%	1h	0.5960	−0.034%	$9K	$288K	50x
SunX EDGE-USDT	+0.0100%	4h	0.5928	−0.570%	$3K	$613K	10x	as long as short
KuCoin EDGEUSDTM	+0.0146%	4h	0.5963	+0.017%	$2.1M	$2.2M	50x	as long as short
MEXC EDGE_USDT	+0.0580%	4h	0.5976	+0.235%	$1.2M	$916K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EDGE-USD	+0.0584%	1h	0.5976	+0.233%	$27K	$230K	5x	as long as short
Aster EDGEUSDT	+0.0588%	4h	0.5958	−0.064%	$69K	$133K	5x	as long as short
Binance EDGEUSDT	+0.0590%	4h	0.5977	+0.249%	$10.1M	$10.1M	50x	as long as short
BloFin EDGE-USDT	+0.0618%	4h	0.5958	−0.067%	$646K	$112K	50x	as long as short
edgeX EDGEUSDC	+0.0679%	4h	0.5956	−0.102%	$14.2M	$3.5M	30x	as long as short
Orderly PERP_EDGE_USDClong	+0.0692%	4h	0.5962	long leg	$3K	—	10x
OKX EDGE-USDT-SWAP	+0.0694%	4h	0.5980	+0.302%	$3.7M	$5.9M	20x	as long as short