Funding arb · Price arb /

DYM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Variational Omni−6.385%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

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 −$2 a day on $10k at the current rate, and Injective is 6.385% cheaper against Variational Omni than usual: you would sell low and buy high (−$639 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni DYM	0.01835	0.0100	pay 0.0050% / 4h	4m 37s	$9K	$5K	—
Short	Injective DYM/USDC PERP	0.01718	0.0033	get 0.0004% / 1h	4m 37s	$237	$12K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now −6.385%Rate

Funding earned: −$14
Price spread: −6.385% → 0.000%: −$638.51
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$652.53
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Injective: 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Variational Omni and Injective: 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.

DYM 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
dYdX DYM-USD	+0.0008%	1h	0.01840	+0.271%	$252	$5	5x	as long as short
Injective DYM/USDC PERPshort	+0.0033%	1h	0.01718	−6.385%	$237	$12K	5.5x
Hyperliquid DYM	+0.0100%	1h	0.01839	+0.208%	$369K	$232K	3x	as long as short
Aster DYMUSDT	+0.0100%	4h	0.01839	+0.227%	$76K	$5K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01839	+0.182%	$2.4M	$4.4M	10x	as long as short
Bybit DYMUSDT	+0.0100%	4h	0.01834	−0.048%	$779K	$473K	25x	as long as short
Gate DYM_USDT	+0.0100%	4h	0.01840	+0.263%	$146K	$90K	25x	as long as short
MEXC DYM_USDT	+0.0100%	4h	0.01838	+0.154%	$1.2M	$582K	20x	as long as short
Bitget DYMUSDT	+0.0100%	4h	0.01838	+0.154%	$404K	$150K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01838	+0.154%	—	$14.1M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DYMlong	+0.0100%	4h	0.01835	long leg	$9K	$5K	—
Extended DYM-USD	+0.0104%	1h	0.01838	+0.153%	$1K	$291K	5x	as long as short
KuCoin DYMUSDTM	+0.0272%	4h	0.01841	+0.317%	$431K	$140K	25x	as long as short
Kraken Futures PF_DYMUSD	+0.3694%	1h	0.01848	+0.695%	$15K	$4K	10x	as long as short