Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.028%

Price spread now: Variational Omni against Bybit+0.051%7-day average −0.060% · 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)−0.045%−$4 on $10k

Price spread, last 3 days (all we have)−0.265%−$26 · spread now +0.051%, 7d avg −0.060%

Together, before fees−0.310%+ Points / potential airdropVariational Omni: Active · farm board−$31 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: Variational Omni is 0.111% dearer against Bybit than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ARUSDT	4.4670	0.0100	pay 0.0100% / 8h	2h 12m	$4.6M	$8.9M	75x
Short	Variational Omni AR	4.4693	0.0100	get 0.0100% / 8h	2h 12m	$137K	$172K	—

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 +0.051%Rate

Funding earned: $0
Price spread: +0.051% → −0.060%: $11.13
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: $0.13
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 6 min ago; Variational Omni: RFQ quote, 11 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 Bybit live order book, 6 min ago	2.24 bp	54.7 bp −$55	163.1 bp −$1,631	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 11 min ago	4.94 bp	doesn't fit	132.6 bp −$1,326	doesn't fit	doesn't fit

AR 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_ARUSD	−0.2006%	1h	4.4715	+0.100%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4732	+0.138%	$575K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.351%	$3K	$363	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.4746	+0.170%	$3.8M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4730	+0.134%	$20K	$621K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4653	−0.039%	$8.7M	$56.0M	75x	as long as short
Bybit ARUSDTlong	+0.0100%	8h	4.4670	long leg	$4.6M	$8.9M	75x
OKX AR-USDT-SWAP	+0.0100%	8h	4.4630	−0.090%	$2.2M	$20.6M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4650	−0.045%	$2.5M	$2.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4660	−0.022%	$6.8M	$4.8M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.4720	+0.112%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4670	0.000%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4690	+0.045%	—	$2.9M	—	as long as short
Variational Omni ARshort	+0.0100%	8h	4.4693	+0.051%	$137K	$172K	—
ApeX Omni ARUSDT	+0.0100%	1h	4.4760	+0.201%	$57K	$747K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4653	−0.039%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4660	−0.022%	$420K	$667K	20x	as long as short