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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1616%/8h= +177.0% APRpaid last 24h +0.513%

Price spread now: Variational Omni against Injective+0.220%106s7-day average +0.414% · you sell dearer than you buy

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

Long on Injective Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+1.702%+$170 on $10k

Price spread, last 3 days (all we have)−1.452%−$145 · spread now +0.220%, 7d avg +0.414%

Together, before fees+0.249%+ Points / potential airdropVariational Omni: Active · farm board+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.194% cheaper against Injective than usual: you would sell low and buy high (spread +0.220% now, against its 7-day average of +0.414%). If the spread goes back, that is −$19 on $10k: about 10 hours of funding at the current rate (+$48 a day). The two prices were read 106 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	Injective ARB/USDC PERP	0.2210	−0.1770	get 0.0221% / 1h	55m 32s	$40K	$283K	12x
Short	Variational Omni ARB	0.2215	−0.0153	pay 0.0153% / 8h	1h 55m	$1.8M	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Injective. 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 InjectivebpFee Variational OmnibpOrdersPrice spread, now +0.220%Rate

Funding earned: $339.44
Price spread: +0.220% → +0.414%: −$19.4
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $320.03
Costs to cover: 0.000%
Break-even: 0.4 days

Slippage unknown: Injective: live order book, 28 min ago; Variational Omni: RFQ quote, 4 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 Injective live order book, 28 min ago	51.28 bp	51.3 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.52 bp	doesn't fit	18.1 bp −$181	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 PERPlong	−0.1770%	1h	0.2210	long leg	$40K	$283K	12x
01 Exchange ARBUSD	−0.0200%	1h	0.2225	+0.701%	$7K	$2K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0199%	1h	0.2224	+0.620%	$26K	$32K	25x	as long as short
Variational Omni ARBshort	−0.0153%	8h	0.2215	+0.220%	$1.8M	$2.8M	—
Bybit ARBUSDT	−0.0131%	8h	0.2226	+0.742%	$57.3M	$136.2M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0109%	8h	0.2227	+0.783%	$22.2M	$163.5M	50x	as long as short
MEXC ARB_USDT	−0.0109%	8h	0.2227	+0.765%	$36.7M	$62.0M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0023%	8h	0.2223	+0.588%	$10K	$391K	10x	as long as short
Binance ARBUSDT	−0.0016%	8h	0.2226	+0.728%	$63.4M	$323.7M	75x	as long as short
Extended ARB-USD	−0.0016%	1h	0.2223	+0.605%	$353K	$2.4M	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ARB-USD	0.0000%	1h	0.2225	+0.670%	$66K	$4K	10x	as long as short
SoDEX ARB-USD	+0.0001%	1h	0.2223	+0.593%	$4K	$2.9M	5x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2224	+0.623%	$55K	—	150x	as long as short
Gate ARB_USDT	+0.0010%	8h	0.2225	+0.674%	$5.5M	$20.6M	60x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2224	+0.638%	$145K	$12K	3x	as long as short
Kraken Futures PF_ARBUSD	+0.0085%	1h	0.2226	+0.725%	$1.1M	$5.2M	50x	as long as short
Bitget ARBUSDT	+0.0088%	8h	0.2228	+0.814%	$20.9M	$38.1M	50x	as long as short
BingX ARB-USDT	+0.0089%	8h	0.2224	+0.615%	—	$53.8M	—	as long as short
Lighter ARB	+0.0096%	1h	0.2226	+0.706%	$1.3M	$7.3M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2229	+0.878%	$39.8M	$52.6M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2225	+0.664%	$691K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2225	+0.659%	$44K	$200K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2225	+0.701%	$20.5M	$17.0M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2218	+0.367%	$36K	$456K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2220	+0.449%	$477K	$4.0M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2221	+0.498%	$120K	$296K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2227	+0.769%	$76K	$2.2M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2226	+0.724%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2224	+0.643%	$274K	$1.2M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2222	+0.543%	$5.2M	$13.6M	50x	as long as short
BloFin ARB-USDT	+0.0101%	8h	0.2222	+0.538%	$3.0M	$3.2M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0264%	1h	0.2225	+0.679%	$505K	$2.5M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0274% / S −0.0152%	1h	0.2224	+0.631%	$844K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0291%	1h	0.2227	+0.747%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0363%	1h	0.2227	+0.748%	$491K	$2.8M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0691%	1h	0.2227	+0.760%	$1.1M	$2.7M	20x	as long as short