Funding arb · Price arb /

EDGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0325%/8h= +35.6% APRpaid last 24h +0.213%

Price spread now: BloFin against Backpack+0.111%7-day average +0.194% · you sell dearer than you buy

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$940.937% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.456%−$46 on $10k

Price spread, last 4 days (all we have)+0.496%+$50 · spread now +0.111%, 7d avg +0.194%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.084% cheaper against Backpack than usual: you would sell low and buy high (spread +0.111% now, against its 7-day average of +0.194%). If the spread goes back, that is −$8 on $10k: about 21 hours of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.456%, 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	0.5963	0.0100	pay 0.0013% / 1h	54m 57s	$58K	$110K	3.3x
Short	BloFin EDGE-USDT	0.5970	0.0425	get 0.0213% / 4h	3h 54m	$660K	$103K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.111%Rate

Funding earned: $68.27
Price spread: +0.111% → +0.194%: −$8.36
Slippage, 4 orders: −$71.72
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$33.81
Costs to cover: 0.937%
Break-even: 10.5 days

Slippage from Backpack: live order book, 39 min ago; BloFin: live order book, 42 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, 39 min ago	3.01 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 42 min ago	5.87 bp	23.9 bp −$24	111.0 bp −$1,110	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	0.5955	−0.144%	$43K	$19K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5952	−0.191%	$7.1M	$3.4M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5961	−0.040%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5960	−0.057%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERPlong	+0.0100%	1h	0.5963	long leg	$58K	$110K	3.3x
Variational Omni EDGE	+0.0100%	4h	0.5944	−0.318%	$189K	$136K	—	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5964	+0.010%	$9K	$305K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5918	−0.761%	$4K	$626K	10x	as long as short
GRVT EDGE_USDT_Perp	+0.0148%	4h	0.5965	+0.032%	$8K	$2.5M	10x	as long as short
BloFin EDGE-USDTshort	+0.0425%	4h	0.5970	+0.111%	$660K	$103K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster EDGEUSDT	+0.0460%	4h	0.5961	−0.040%	$58K	$152K	5x	as long as short
edgeX EDGEUSDC	+0.0470%	4h	0.5962	−0.021%	$14.3M	$3.6M	30x	as long as short
Extended EDGE-USD	+0.0472%	1h	0.5956	−0.119%	$27K	$198K	5x	as long as short
MEXC EDGE_USDT	+0.0472%	4h	0.5966	+0.044%	$1.1M	$861K	50x	as long as short
Binance EDGEUSDT	+0.0472%	4h	0.5969	+0.088%	$10.3M	$10.5M	50x	as long as short
OKX EDGE-USDT-SWAP	+0.0497%	4h	0.5970	+0.111%	$3.7M	$5.8M	20x	as long as short
Orderly PERP_EDGE_USDC	+0.0567%	4h	0.5964	+0.010%	$3K	$359	10x	as long as short