Funding arb · Price arb /

CAP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.044%

Price spread now: Variational Omni against Bybit−0.083%7-day average — · you buy dearer than you sell

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

Long on Bybit 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.083% cheaper against Bybit than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CAPUSDT	0.04640	0.0100	pay 0.0050% / 4h	1h 20m	$4.5M	$4.2M	10x
Short	Variational Omni CAP	0.04636	0.0100	get 0.0050% / 4h	1h 20m	$8K	$8K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.083%Rate

Funding earned: $0
Price spread: −0.083% → 0.000%: −$8.31
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.31
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Variational Omni: no order-book sample. 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 Bybit live order book, 2 min ago	3.24 bp	44.2 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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.

CAP on 14 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
KuCoin CAPUSDTM	−0.0496%	4h	0.04635	−0.108%	$4.4M	$1.4M	10x	as long as short
gTrade (Gains Network) CAP/USD	L 0.0000% / S 0.0000%	1h	0.04633	−0.146%	—	—	150x	as long as short
OKX CAP-USDT-SWAP	+0.0058%	4h	0.04641	+0.022%	$2.1M	$7.3M	10x	as long as short
Lighter CAP	+0.0096%	1h	0.04637	−0.075%	$19K	$2K	3x	as long as short
Aster CAPUSDT	+0.0100%	4h	0.04629	−0.228%	$26K	$66K	5x	as long as short
Binance CAPUSDT	+0.0100%	4h	0.04641	+0.022%	$8.9M	$9.0M	10x	as long as short
Bybit CAPUSDTlong	+0.0100%	4h	0.04640	long leg	$4.5M	$4.2M	10x
Gate CAP_USDT	+0.0100%	4h	0.04636	−0.086%	$324K	$1.2M	20x	as long as short
MEXC CAP_USDT	+0.0100%	4h	0.04638	−0.043%	$548K	$233K	20x	as long as short
Bitget CAPUSDT	+0.0100%	4h	0.04637	−0.065%	$1.0M	$594K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAP-USDT	+0.0100%	4h	0.04639	−0.022%	—	$1.6M	—	as long as short
Variational Omni CAPshort	+0.0100%	4h	0.04636	−0.083%	$8K	$8K	—
Orderly PERP_CAP_USDC_mythos	+0.0100%	4h	0.04631	−0.185%	$4K	$1K	10x	as long as short
BloFin CAP-USDT	+0.0115%	4h	0.04630	−0.216%	$376K	$61K	10x	as long as short