Funding arb · Price arb /

ATH

all ATH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.047%

Price spread now: Variational Omni against dYdX−0.626%53s7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (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

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Variational Omni is 0.626% cheaper against dYdX than usual: you would sell low and buy high (−$63 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 53 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	dYdX ATH-USD	0.005570	0	get 0.0000% / 1h	8m 54s	$11K	$16	5x
Short	Variational Omni ATH	0.005535	−0.0016	pay 0.0008% / 4h	8m 54s	$186K	$94K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. 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 dYdXbpFee Variational OmnibpOrdersPrice spread, now −0.626%Rate

Funding earned: −$3.43
Price spread: −0.626% → 0.000%: −$62.58
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$76.01
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Variational Omni: RFQ quote, 5 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 dYdX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 5 min ago	8.11 bp	doesn't fit	118.1 bp −$1,181	doesn't fit	doesn't fit

dYdX: 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.

ATH on 13 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_ATHUSD	−0.3571%	1h	0.005561	−0.171%	$19K	$106K	10x	as long as short
Variational Omni ATHshort	−0.0016%	4h	0.005535	−0.626%	$186K	$94K	—
dYdX ATH-USDlong	0.0000%	1h	0.005570	long leg	$11K	$16	5x
OKX ATH-USDT-SWAP	+0.0074%	4h	0.005552	−0.324%	$704K	$1.2M	20x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005566	−0.069%	$4K	$38K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005569	−0.026%	$3.4M	$3.8M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005556	−0.252%	$4.4M	$2.3M	25x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005555	−0.270%	$792K	$520K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005568	−0.037%	$9.0M	$589K	50x	as long as short
KuCoin ATHUSDTM	+0.0100%	4h	0.005560	−0.180%	$568K	$78K	30x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ATHUSDT	+0.0100%	4h	0.005562	−0.145%	$1.6M	$812K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005560	−0.180%	—	$21.4M	—	as long as short
BloFin ATH-USDT	+0.0108%	4h	0.005554	−0.288%	$171K	$68K	75x	as long as short