Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against OKX+0.001%7-day average — · you sell dearer than you buy

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 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	OKX 2Z-USDT-SWAP	0.05193	0.0100	pay 0.0050% / 4h	23m 39s	$435K	$730K	20x
Short	Variational Omni 2Z	0.05193	0.0100	get 0.0050% / 4h	23m 39s	$33K	$23K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. 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 OKXbpFee Variational OmnibpOrdersPrice spread, now +0.001%Rate

Funding earned: $0
Price spread: +0.001% → 0.000%: $0.08
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.92
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 12 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 OKX live order book, 12 min ago	5.76 bp	39.7 bp −$40	doesn't fit	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
Kraken Futures PF_2ZUSD	−0.3903%	1h	0.05179	−0.271%	$5K	$3K	10x	as long as short
Backpack 2Z_USDC_PERP	−0.0266%	1h	0.05192	−0.019%	$46K	$20K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.102%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05195	+0.039%	$16K	$6K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05192	−0.010%	$654K	$352K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05199	+0.112%	$12K	$55K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05192	−0.010%	$75K	$15K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05191	−0.039%	$2.1M	$2.1M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05196	+0.058%	$717K	$967K	50x	as long as short
OKX 2Z-USDT-SWAPlong	+0.0100%	4h	0.05193	long leg	$435K	$730K	20x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate 2Z_USDT	+0.0100%	4h	0.05200	+0.135%	$92K	$70K	50x	as long as short
MEXC 2Z_USDT	+0.0100%	4h	0.05194	+0.019%	$338K	$139K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05187	−0.119%	$179K	$53K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05198	+0.096%	$172K	$673K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05191	−0.039%	—	$6.5M	—	as long as short
Variational Omni 2Zshort	+0.0100%	4h	0.05193	+0.001%	$33K	$23K	—
SunX 2Z-USDT	+0.0100%	4h	0.05196	+0.058%	$1K	$1.1M	20x	as long as short