Funding arb · Price arb /

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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 +0.018%

Price spread now: Bybit against Variational Omni−0.262%7-day average +0.061% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

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 4 days (all we have)−0.459%−$46 · spread now −0.262%, 7d avg +0.061%

Together, before fees−0.414%+ Points / potential airdropVariational Omni: Active · farm board−$41 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: Bybit is 0.323% cheaper against Variational Omni than usual: you would sell low and buy high, −$32 on $10k if it goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AR	4.5582	0.0100	pay 0.0100% / 8h	6h 11m	$238K	$261K	—
Short	Bybit ARUSDT	4.5462	0.0100	get 0.0100% / 8h	6h 11m	$4.7M	$8.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpOrdersPrice spread, now −0.262%Rate

Funding earned: $0
Price spread: −0.262% → +0.061%: −$32.3
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.3
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 57 min ago; Bybit: live order book, 1 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, 57 min ago	4.88 bp	doesn't fit	163.3 bp −$1,633	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.20 bp	42.2 bp −$42	149.2 bp −$1,492	doesn't fit	doesn't fit

AR on 16 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	−0.1678%	1h	4.5643	+0.135%	$56K	$149K	20x	as long as short
Injective AR/USDC PERP	−0.0353%	1h	4.6110	+1.159%	$2K	$2K	5.5x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5488	−0.205%	$585K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0107%	8h	4.5440	−0.311%	$2.3M	$19.3M	20x	as long as short
Extended AR-USD	+0.0064%	1h	4.5457	−0.274%	$37K	$240K	10x	as long as short
MEXC AR_USDT	+0.0067%	8h	4.5490	−0.201%	$6.5M	$4.3M	100x	as long as short
Binance ARUSDT	+0.0069%	8h	4.5463	−0.260%	$9.1M	$52.6M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5570	−0.025%	$4.1M	$4.7M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5540	−0.091%	$19K	$500K	10x	as long as short
Bybit ARUSDTshort	+0.0100%	8h	4.5462	−0.262%	$4.7M	$8.5M	75x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5470	−0.245%	$2.5M	$2.2M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5520	−0.135%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5420	−0.354%	$3.9M	$5.4M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5490	−0.201%	—	$2.8M	—	as long as short
Variational Omni ARlong	+0.0100%	8h	4.5582	long leg	$238K	$261K	—
ApeX Omni ARUSDT	+0.0100%	1h	4.5520	−0.135%	$20K	$749K	50x	as long as short