Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Variational Omni against Bybit+0.010%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 2ZUSDT	0.05240	0.0100	pay 0.0050% / 4h	1h 17m	$686K	$963K	50x
Short	Variational Omni 2Z	0.05241	0.0100	get 0.0050% / 4h	1h 17m	$33K	$29K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → 0.000%: $1.01
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.99
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 28 min ago; Variational Omni: 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 Bybit live order book, 28 min ago	3.86 bp	23.5 bp −$23	1429.8 bp −$14.3K	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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.

2Z 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 2Z_USDC_PERP	−0.0389%	1h	0.05233	−0.134%	$46K	$29K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.962%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05240	0.000%	$17K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05240	+0.004%	$677K	$373K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05236	−0.073%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05233	−0.135%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05237	−0.057%	$2.1M	$2.3M	50x	as long as short
Bybit 2ZUSDTlong	+0.0100%	4h	0.05240	long leg	$686K	$963K	50x
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05238	−0.038%	$452K	$711K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05229	−0.210%	$91K	$68K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05241	+0.019%	$297K	$125K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05234	−0.122%	$193K	$52K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05237	−0.057%	$157K	$632K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05236	−0.076%	—	$6.5M	—	as long as short
Variational Omni 2Zshort	+0.0100%	4h	0.05241	+0.010%	$33K	$29K	—
SunX 2Z-USDT	+0.0100%	4h	0.05233	−0.134%	$1K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.2479%	1h	0.05240	+0.001%	$6K	$3K	10x	as long as short