Funding you earn now, next payment 00:00 UTC−0.0643%/8h= −70.5% APRpaid last 24h −0.096%
Price spread now: Variational Omni against Backpack−0.221%7-day average −0.795% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.146%−$15 on $10k
+Price spread, last 7 days+0.565%+$57 · spread now −0.221%, 7d avg −0.795%
=Together, before fees+0.419%+ Points / potential airdropVariational Omni: Active · farm board+$42 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.574% dearer against Backpack than usual: you sell high and buy low (spread −0.221% now, against its 7-day average of −0.795%): +$57 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 3.0 days. At the pace of the last 3 days (−0.146% in total) that is about 13 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.146% in total (about -16.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ARB_USDC_PERP | 0.2277 | 0.0459 | pay 0.0057% / 1h | 37m 29s | $930K | $2.8M | 20x |
| Short | Variational Omni ARB | 0.2272 | −0.0184 | pay 0.0184% / 8h | 37m 29s | $1.9M | $2.7M | — |
Backpack ARB_USDC_PERP
Variational Omni ARBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$135.12
- Price spread: −0.221% → −0.795%
- $57.36
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$87.77
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: live order book, 2 min ago; Variational Omni: RFQ quote, 2 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 Backpack live order book, 2 min ago | 1.98 bp | 10.7 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 2 min ago | 6.60 bp | doesn't fit | 15.4 bp −$154 | doesn't fit | doesn't fit |
ARB on 36 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ARB/USDC PERP | −0.1785% | 1h | 0.2264 | −0.553% | $41K | $372K | 12x | as long as short |
| Polymarket Perps ARB-USD | −0.0301% | 1h | 0.2274 | −0.097% | $75K | $2.0M | 10x | as long as short |
| Variational Omni ARBshort | −0.0184% | 8h | 0.2272 | −0.221% | $1.9M | $2.7M | — | |
| Bybit ARBUSDT | −0.0161% | 8h | 0.2275 | −0.088% | $58.5M | $128.9M | 50x | as long as short |
| 01 Exchange ARBUSD | −0.0152% | 1h | 0.2275 | −0.057% | $7K | $2K | 10x | as long as short |
| OKX ARB-USDT-SWAP | −0.0111% | 8h | 0.2274 | −0.110% | $23.0M | $160.6M | 50x | as long as short |
| MEXC ARB_USDT | −0.0110% | 8h | 0.2275 | −0.083% | $38.3M | $59.6M | 200x | as long as short |
| SoDEX ARB-USD | −0.0061% | 1h | 0.2274 | −0.132% | $4K | $2.6M | 5x | as long as short |
| Orderly PERP_ARB_USDC | −0.0040% | 8h | 0.2273 | −0.158% | $13K | $395K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2274 | −0.104% | $67K | $4K | 10x | as long as short |
Injective ARB/USDC PERP
Polymarket Perps ARB-USD
Bybit ARBUSDT
01 Exchange ARBUSD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
SoDEX ARB-USD
Orderly PERP_ARB_USDC
dYdX ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2275 | −0.092% | $26K | $32K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2276 | −0.026% | $56K | — | 150x | as long as short |
| Binance ARBUSDT | +0.0007% | 8h | 0.2275 | −0.064% | $66.6M | $314.1M | 75x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2274 | −0.108% | $363K | $2.3M | 25x | as long as short |
| Gate ARB_USDT | +0.0017% | 8h | 0.2273 | −0.176% | $5.5M | $20.2M | 60x | as long as short |
| BloFin ARB-USDT | +0.0022% | 8h | 0.2274 | −0.101% | $3.2M | $2.8M | 75x | as long as short |
| Bitget ARBUSDT | +0.0067% | 8h | 0.2274 | −0.114% | $21.4M | $36.1M | 50x | as long as short |
| BingX ARB-USDC | +0.0071% | 8h | 0.2274 | −0.132% | — | $6.5M | — | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2275 | −0.081% | $149K | $12K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2276 | −0.048% | $1.4M | $7.4M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2278 | +0.044% | $41.4M | $47.3M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2274 | −0.105% | $708K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2275 | −0.078% | $48K | $185K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2276 | −0.018% | $19.8M | $16.2M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2273 | −0.165% | $40K | $461K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2273 | −0.158% | $485K | $3.7M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2273 | −0.158% | $122K | $295K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2276 | −0.026% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2274 | −0.123% | $290K | $1.1M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2274 | −0.114% | $5.2M | $13.2M | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0216% | 1h | 0.2280 | +0.149% | $513K | $2.3M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0235% | 1h | 0.2275 | −0.067% | $1.2M | $4.9M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2274 | −0.116% | $2K | $695 | 20x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0296% / S −0.0186% | 1h | 0.2274 | −0.094% | $930K | — | 150x | as long as short |
| RISEx ARB/USDC | +0.0330% | 1h | 0.2277 | +0.028% | $503K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0459% | 1h | 0.2277 | long leg | $930K | $2.8M | 20x |
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Binance ARBUSDT
Extended ARB-USD
Gate ARB_USDT
BloFin ARB-USDT
Bitget ARBUSDT
BingX ARB-USDC
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
Coinbase International ARB-PERP-INTX
Kraken Futures PF_ARBUSD
Reya ARBRUSDPERP
GMX ARB/USD [ARB-USDC]
RISEx ARB/USDC