Funding arb · Price arb /

BRETT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Variational Omni against GMX−0.024%50s7-day average — · you buy dearer than you sell

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

Long on GMX 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

Funding pays, the price is against you. Variational Omni is 0.024% cheaper against GMX than usual: you would sell low and buy high (spread −0.024% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day). The two prices were read 50 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	GMX BRETT/USD [ETH-USDC]	0.005841	L 0.0000% / S 0.0000%	get 0.0000% / 1h	29m 32s	—	—	100x
Short	Variational Omni BRETT	0.005840	0.0100	get 0.0050% / 4h	2h 29m	$43K	$114K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. 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 GMXbpFee Variational OmnibpOrdersPrice spread, now −0.024%Rate

Funding earned: $21
Price spread: −0.024% → 0.000%: −$2.41
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $6.59
Costs to cover: 0.120%
Break-even: 4.8 days

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 39 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 GMX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 39 min ago	10.11 bp	doesn't fit	146.6 bp −$1,466	doesn't fit	doesn't fit

GMX: 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.

BRETT 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
GMX BRETT/USD [ETH-USDC]long	L 0.0000% / S 0.0000%	1h	0.005841	long leg	—	—	100x
Injective BRETT/USDC PERP	+0.0033%	1h	0.005839	−0.034%	$61	$854	5.5x	as long as short
Binance BRETTUSDT	+0.0100%	4h	0.005860	+0.325%	$1.2M	$2.6M	50x	as long as short
Bybit BRETTUSDT	+0.0100%	4h	0.005845	+0.068%	$2.1M	$1.9M	25x	as long as short
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005862	+0.360%	$134K	$274K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005843	+0.034%	$433K	$109K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005859	+0.308%	$12.5M	$209K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005856	+0.257%	$310K	$89K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005847	+0.103%	$1.4M	$613K	50x	as long as short
BingX BRETT-USDT	+0.0100%	4h	0.005849	+0.137%	—	$1.4M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BRETTshort	+0.0100%	4h	0.005840	−0.024%	$43K	$114K	—
Hyperliquid BRETT	+0.0155%	1h	0.005870	+0.496%	$318K	$255K	3x	as long as short
Kraken Futures PF_BRETTUSD	+0.1526%	1h	0.005854	+0.225%	$44K	$75K	10x	as long as short