Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Vest against Variational Omni+0.121%56s7-day average +0.028% · you sell dearer than you buy

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

Long on Variational Omni Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now +0.121%, 7d avg +0.028%

Together, before fees+0.032%+ Points / potential airdropVariational Omni: Active · Vest: Active · farm board+$3 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: Vest is 0.093% dearer against Variational Omni than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.028%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ETH	2,740.4	0.0100	pay 0.0100% / 8h	5h 44m	$132.4M	$336.6M	—
Short	Vest ETH-PERP	2,743.7	0.0100	get 0.0013% / 1h	44m 32s	—	$819K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now +0.121%Rate

Funding earned: $0.02
Price spread: +0.121% → +0.028%: $9.28
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Vest: 1 bp × 2 orders: −$2
Net: $7.3
Costs to cover: 0.020%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Vest: 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, 5 min ago	0.47 bp	doesn't fit	0.5 bp −$5	1.7 bp −$168	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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.

ETH on 55 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
Perpl ETH	−0.0112%	43m	2,742.9	+0.093%	$305K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,742.7	+0.084%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0044%	1h	2,744.7	+0.157%	$118K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,743.7	+0.121%	$12.1M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,742.9	+0.092%	$10.8M	$41.8M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,743.8	+0.123%	$22.2M	—	200x	as long as short
Phoenix ETH	+0.0017%	1h	2,740.6	+0.008%	$845K	$2.9M	25x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,742.8	+0.088%	$182K	$917K	50x	as long as short
BingX ETH-USDT	+0.0047%	8h	2,742.4	+0.073%	—	$1.15B	—	as long as short
OKX ETH-USDT-SWAP	+0.0061%	8h	2,742	+0.059%	$1.70B	$10.57B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ETHUSDTM	+0.0063%	8h	2,742.6	+0.082%	$376.4M	$598.0M	100x	as long as short
RISEx ETH/USDC	+0.0077%	1h	2,742.4	+0.072%	$5.7M	$11.2M	25x	as long as short
Aster ETHUSDT	+0.0078%	8h	2,742.9	+0.093%	$252.3M	$841.3M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,741.2	+0.031%	$4.9M	$159K	20x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,742	+0.059%	$1.56B	$2.53B	500x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,742.3	+0.071%	$6.38B	$15.71B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,743.3	+0.108%	$112.8M	$431.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,744.3	+0.144%	$24.7M	$103.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,741.3	+0.034%	—	$30.9M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,744.9	+0.163%	$59.0M	$4.27B	50x	as long as short
Bullet ETH-USD	+0.0096%	1h	2,743.5	+0.114%	$182K	$1.7M	20x	as long as short
HTX ETH-USDT	+0.0097%	8h	2,743.4	+0.110%	$1.06B	$1.18B	200x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,746.5	+0.224%	$16.1M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,742.4	+0.074%	$469K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,743.6	+0.119%	$13.9M	$106.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,744.8	+0.161%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,743.5	+0.112%	$31.6M	$334.0M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,742.2	+0.065%	$2.45B	$4.19B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,742.8	+0.088%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,742.9	+0.093%	$2.7M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,743.5	+0.115%	$165.1M	$304.9M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,742.6	+0.082%	$3.40B	$8.69B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,742.4	+0.073%	$2.08B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,743.2	+0.103%	$15.0M	$40.9M	50x	as long as short
Variational Omni ETHlong	+0.0100%	8h	2,740.4	long leg	$132.4M	$336.6M	—
edgeX ETHUSDC	+0.0100%	4h	2,739.2	−0.044%	$181.4M	$691.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,739.8	−0.022%	$159.3M	$82.0M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,740.9	+0.020%	$8.7M	$31.1M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,740.9	+0.019%	$21.2M	$69.4M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,744.6	+0.154%	$10.9M	$8.7M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,744	+0.130%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,745.7	+0.194%	$41.6M	$29.6M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,740.6	+0.006%	$962K	$11.5M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,743.9	+0.128%	$54.6M	$187.5M	40x	as long as short
Deribit ETH-PERPETUAL	+0.0100%	1h	2,745.1	+0.171%	$258.8M	$195.7M	50x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,743.4	+0.111%	$266.9M	$65.1M	150x	as long as short
Vest ETH-PERPshort	+0.0100%	1h	2,743.7	+0.121%	—	$819K	50x
Extended ETH-USD	+0.0104%	1h	2,741.5	+0.042%	$30.6M	$72.5M	50x	as long as short
Aftermath Perps ETHUSD	+0.0131%	1h	2,743.4	+0.110%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0152%	8h	2,743.7	+0.121%	$7.7M	$668.4M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0187%	8h	2,746.4	+0.220%	$32.3M	$11.1M	100x	as long as short
BloFin ETH-USDT	+0.0208%	8h	2,742.9	+0.092%	$286.0M	$177.5M	150x	as long as short
Kraken Futures PF_ETHUSD	+0.0221%	1h	2,744.6	+0.152%	$87.4M	$310.1M	100x	as long as short
Reya ETHRUSDPERP	+0.0225%	1h	2,743.5	+0.112%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0240%	1h	2,740.9	+0.017%	$249K	$1.4M	20x	as long as short