Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0391%/8h= +42.8% APRpaid last 24h —

Price spread now: Variational Omni against Deribit−0.257%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 7 hours (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

Funding pays, the price is against you. Variational Omni is 0.257% cheaper against Deribit than usual: you would sell low and buy high (spread −0.257% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 2.2 days of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ALT_USDC-PERPETUAL	0.007526	−0.0414	get 0.0052% / 1h	32m 50s	—	$0	25x
Short	Variational Omni ALT	0.007507	−0.0023	pay 0.0011% / 4h	32m 50s	$5K	$13K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now −0.257%Rate

Funding earned: $82.17
Price spread: −0.257% → 0.000%: −$25.73
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $49.44
Costs to cover: 0.070%
Break-even: 2.8 days

Slippage unknown: Deribit: no order-book sample; 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 Deribit no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

Deribit and 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.

ALT on 14 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
Deribit ALT_USDC-PERPETUALlong	−0.0414%	1h	0.007526	long leg	—	$0	25x
Kraken Futures PF_ALTUSD	−0.0089%	1h	0.007528	+0.033%	$44K	$8K	10x	as long as short
Variational Omni ALTshort	−0.0023%	4h	0.007507	−0.257%	$5K	$13K	—
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−1.927%	$815	$4K	5.5x	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007519	−0.093%	$1.1M	$184K	3x	as long as short
Binance ALTUSDT	+0.0100%	4h	0.007524	−0.023%	$2.6M	$3.6M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007523	−0.040%	$1.2M	$1.6M	25x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007511	−0.199%	$51K	$411K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007525	−0.013%	$401K	$185K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007526	0.000%	$149K	$21K	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ALTUSDT	+0.0100%	4h	0.007511	−0.199%	$617K	$100K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007516	−0.133%	—	$1.3M	—	as long as short
BloFin ALT-USDT	+0.0111%	4h	0.007512	−0.186%	$171K	$10K	50x	as long as short
Coinbase International ALT-PERP-INTX	+0.0416%	1h	0.007548	+0.292%	$14K	$3K	50x	as long as short