Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Variational Omni+0.037%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 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 · Lighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.037% dearer against Variational Omni than usual: you sell high and buy low, +$4 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	Variational Omni EDGE	0.5901	0.0100	pay 0.0050% / 4h	2h 40m	$186K	$144K	—
Short	Lighter EDGE	0.5903	0.0096	get 0.0012% / 1h	40m 24s	$43K	$19K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$0.84
Price spread: +0.037% → 0.000%: $3.68
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $2.84
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 9 min ago; Lighter: 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 RFQ quote, 9 min ago	5.89 bp	doesn't fit	423.5 bp −$4,235	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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.

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	−0.0273%	1h	0.5902	+0.018%	$58K	$114K	3.3x	as long as short
Lighter EDGEshort	+0.0096%	1h	0.5903	+0.037%	$43K	$19K	3x
Bybit EDGEUSDT	+0.0100%	4h	0.5906	+0.084%	$7.1M	$3.3M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5913	+0.203%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5910	+0.152%	$4.7M	$1.1M	20x	as long as short
Variational Omni EDGElong	+0.0100%	4h	0.5901	long leg	$186K	$144K	—
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5924	+0.389%	$9K	$2.7M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5917	+0.271%	$9K	$301K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5880	−0.356%	$4K	$631K	10x	as long as short
Aster EDGEUSDT	+0.0342%	4h	0.5910	+0.145%	$52K	$155K	5x	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	+0.0438%	4h	0.5918	+0.288%	$3.7M	$5.8M	20x	as long as short
Binance EDGEUSDT	+0.0439%	4h	0.5915	+0.244%	$10.1M	$10.6M	50x	as long as short
Extended EDGE-USD	+0.0448%	1h	0.5910	+0.151%	$27K	$86K	5x	as long as short
MEXC EDGE_USDT	+0.0448%	4h	0.5912	+0.186%	$1.0M	$813K	50x	as long as short
edgeX EDGEUSDC	+0.0482%	4h	0.5919	+0.299%	$14.2M	$3.6M	30x	as long as short
BloFin EDGE-USDT	+0.0485%	4h	0.5915	+0.237%	$659K	$103K	50x	as long as short
Orderly PERP_EDGE_USDC	+0.0580%	4h	0.5912	+0.186%	$3K	$1K	10x	as long as short