Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h −0.078%

Price spread now: Variational Omni against Extended−0.191%7-day average −0.002% · you buy dearer than you sell

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.135%−$13 on $10k

Price spread, last 4 days (all we have)+0.231%+$23 · spread now −0.191%, 7d avg −0.002%

Together, before fees+0.097%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Variational Omni is 0.188% cheaper against Extended than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended EDGE-USD	0.5944	0.0416	pay 0.0052% / 1h	4m 52s	$30K	$193K	5x
Short	Variational Omni EDGE	0.5933	0.0100	get 0.0050% / 4h	4m 52s	$188K	$136K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now −0.191%Rate

Funding earned: −$66.36
Price spread: −0.191% → −0.002%: −$18.85
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$90.21
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 52 min ago; Variational Omni: RFQ quote, 54 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 Extended live order book, 52 min ago	2.87 bp	54.2 bp −$54	493.9 bp −$4,939	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 54 min ago	5.10 bp	doesn't fit	345.0 bp −$3,450	doesn't fit	doesn't fit

EDGE on 17 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
Backpack EDGE_USDC_PERP	−0.0119%	1h	0.5949	+0.081%	$58K	$111K	3.3x	as long as short
Lighter EDGE	+0.0096%	1h	0.5938	−0.114%	$43K	$19K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5935	−0.157%	$7.1M	$3.4M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5940	−0.072%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5939	−0.089%	$4.7M	$1.1M	20x	as long as short
Variational Omni EDGEshort	+0.0100%	4h	0.5933	−0.191%	$188K	$136K	—
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5944	−0.013%	$10K	$2.4M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5944	−0.005%	$9K	$305K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5908	−0.611%	$4K	$626K	10x	as long as short
edgeX EDGEUSDC	+0.0347%	4h	0.5945	+0.018%	$14.2M	$3.6M	30x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX EDGE-USDT-SWAP	+0.0384%	4h	0.5955	+0.180%	$3.7M	$5.8M	20x	as long as short
Extended EDGE-USDlong	+0.0416%	1h	0.5944	long leg	$30K	$193K	5x
Binance EDGEUSDT	+0.0419%	4h	0.5949	+0.079%	$10.2M	$10.5M	50x	as long as short
MEXC EDGE_USDT	+0.0420%	4h	0.5950	+0.096%	$1.1M	$903K	50x	as long as short
Aster EDGEUSDT	+0.0431%	4h	0.5945	+0.017%	$58K	$152K	5x	as long as short
BloFin EDGE-USDT	+0.0478%	4h	0.5946	+0.029%	$662K	$103K	50x	as long as short
Orderly PERP_EDGE_USDC	+0.0555%	4h	0.5945	+0.012%	$3K	$359	10x	as long as short