Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Variational Omni+0.119%52s7-day average +0.007% · you sell dearer than you buy

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%+$1 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now +0.119%, 7d avg +0.007%

Together, before fees+0.103%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.112% dearer against Variational Omni than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.007%. The two prices were read 52 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	Variational Omni ADA	0.2508	0.0100	pay 0.0100% / 8h	3h 35m	$4.4M	$1.1M	—
Short	Pacifica ADA	0.2511	0.0100	get 0.0013% / 1h	35m 47s	$161K	$170K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Variational Omni. 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 Variational OmnibpFee PacificabpOrdersPrice spread, now +0.119%Rate

Funding earned: $0
Price spread: +0.119% → +0.007%: $11.21
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $3.21
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Pacifica: live order book, 17 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 Variational Omni RFQ quote, 3 min ago	8.00 bp	doesn't fit	12.0 bp −$120	doesn't fit	doesn't fit
Sell Pacifica live order book, 17 min ago	4.36 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit

ADA on 37 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
dYdX ADA-USD	0.0000%	1h	0.2504	−0.142%	$206K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2509	+0.037%	$156K	$6.7M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2505	−0.109%	$86K	—	150x	as long as short
Kraken Futures PF_ADAUSD	+0.0025%	1h	0.2506	−0.100%	$6.4M	$13.0M	50x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−1.478%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2512	+0.157%	$404K	$8.3M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2507	−0.050%	$2.5M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2506	−0.076%	$1.2M	$1.0M	75x	as long as short
Pacifica ADAshort	+0.0100%	1h	0.2511	+0.119%	$161K	$170K	10x
Binance ADAUSDT	+0.0100%	8h	0.2505	−0.118%	$106.7M	$382.3M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2503	−0.202%	$74.3M	$112.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2505	−0.122%	$33.5M	$111.0M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2504	−0.162%	$102.3M	$60.7M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2505	−0.122%	$61.4M	$61.7M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2505	−0.102%	$30.1M	$15.3M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2506	−0.082%	$68.2M	$51.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2505	−0.122%	—	$6.6M	—	as long as short
Variational Omni ADAlong	+0.0100%	8h	0.2508	long leg	$4.4M	$1.1M	—
edgeX ADAUSDC	+0.0100%	4h	0.2502	−0.253%	$67K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2503	−0.216%	$293K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2501	−0.282%	$231K	$752K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2511	+0.109%	$95K	$615K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2505	−0.122%	$6K	$6K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2506	−0.089%	$41K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2512	+0.155%	$9K	$738K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2505	−0.102%	$345	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2508	+0.010%	$1.4M	$6.6M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2506	−0.082%	$48.9M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2505	−0.111%	$542K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0113%	8h	0.2512	+0.140%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0161%	1h	0.2508	−0.010%	$4K	$95K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2512	+0.157%	$4.6M	$5.9M	75x	as long as short
Reya ADARUSDPERP	+0.0277%	1h	0.2509	+0.057%	$1K	—	15x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0309%	1h	0.2506	−0.086%	$622K	$523K	50x	as long as short
Backpack ADA_USDC_PERP	+0.0347%	1h	0.2506	−0.086%	$142K	$460K	15x	as long as short
Hyperliquid ADA	+0.0494%	1h	0.2509	+0.041%	$44.9M	$16.0M	10x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0618% / S −0.0569%	1h	0.2506	−0.099%	$139K	—	100x	as long as short