Net edge
Profit as a percentage of total money put in, after every venue fee, at a size the books can actually fill.
Gross edge is the naive gap between prices. Net edge subtracts each venue's fee (Kalshi's 7%·p·(1−p) taker fee per contract, Polymarket's category rate, a sportsbook's zero explicit fee) and is computed at the average fill price across the order-book levels needed for the size — not the top-of-book quote. A 3% gross edge is routinely a 1% net edge, or nothing.
ArbMonster never displays a gross-only number as the headline; every card's edge is net, and the gross figure is shown only for comparison.
Measured on ArbMonster: Methodology
Related terms: Arbitrage · Taker fee · Order book depth · Gross edge