Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: KuCoin against Variational Omni+0.118%7-day average +0.041% · you sell dearer than you buy

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

Long on Variational Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now +0.118%, 7d avg +0.041%

Together, before fees−0.103%+ Points / potential airdropVariational Omni: Active · farm board−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.077% dearer against Variational Omni than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni EDGE	0.5992	0.0100	pay 0.0050% / 4h	1h 39m	$190K	$144K	—
Short	KuCoin EDGEUSDTM	0.5999	0.0100	get 0.0050% / 4h	1h 39m	$2.1M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Variational Omni. 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 Variational OmnibpFee KuCoinbpOrdersPrice spread, now +0.118%Rate

Funding earned: $0
Price spread: +0.118% → +0.041%: $7.66
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$4.34
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; KuCoin: live order book, 7 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 Variational Omni RFQ quote, 5 min ago	8.33 bp	doesn't fit	473.0 bp −$4,730	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	5.00 bp	187.1 bp −$187	910.7 bp −$9,107	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	−0.0470%	1h	0.5997	+0.089%	$59K	$120K	3.3x	as long as short
Lighter EDGE	+0.0096%	1h	0.5989	−0.054%	$44K	$22K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5987	−0.083%	$7.2M	$3.4M	25x	as long as short
KuCoin EDGEUSDTMshort	+0.0100%	4h	0.5999	+0.118%	$2.1M	$2.2M	50x
Bitget EDGEUSDT	+0.0100%	4h	0.5998	+0.101%	$4.8M	$1.1M	20x	as long as short
Variational Omni EDGElong	+0.0100%	4h	0.5992	long leg	$190K	$144K	—
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.6010	+0.301%	$7K	$2.9M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.6004	+0.201%	$9K	$295K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5959	−0.550%	$3K	$642K	10x	as long as short
Aster EDGEUSDT	+0.0330%	4h	0.6000	+0.139%	$53K	$156K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin EDGE-USDT	+0.0475%	4h	0.5995	+0.051%	$666K	$106K	50x	as long as short
OKX EDGE-USDT-SWAP	+0.0479%	4h	0.6009	+0.285%	$3.8M	$6.1M	20x	as long as short
Binance EDGEUSDT	+0.0494%	4h	0.5997	+0.084%	$10.3M	$10.8M	50x	as long as short
Extended EDGE-USD	+0.0496%	1h	0.6006	+0.226%	$29K	$84K	5x	as long as short
edgeX EDGEUSDC	+0.0498%	4h	0.6013	+0.343%	$14.4M	$3.7M	30x	as long as short
MEXC EDGE_USDT	+0.0502%	4h	0.5999	+0.118%	$1.1M	$801K	50x	as long as short
Orderly PERP_EDGE_USDC	+0.0624%	4h	0.6000	+0.134%	$2K	$1K	10x	as long as short