Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.016%

Price spread now: 01 Exchange against Variational Omni0.000%7-day average −0.008% · you sell dearer than you buy

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

Long on Variational Omni Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.061%−$6 on $10k

Price spread, last 7 days+0.009%+$1 · spread now 0.000%, 7d avg −0.008%

Together, before fees−0.052%+ Points / potential airdropVariational Omni: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ETH	2,752.6	0.0100	pay 0.0100% / 8h	7h 05m	$132.1M	$307.7M	—
Short	01 Exchange ETHUSD	2,752.6	0.0016	get 0.0002% / 1h	5m 07s	$183K	$934K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$17.64
Price spread: 0.000% → −0.008%: $0.81
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$23.83
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; 01 Exchange: live order book, 29 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, 4 min ago	0.53 bp	doesn't fit	0.5 bp −$5	1.9 bp −$187	doesn't fit
Sell 01 Exchange live order book, 29 min ago	0.18 bp	6.2 bp −$6	11.1 bp −$111	doesn't fit	doesn't fit

ETH on 54 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
Hotstuff ETH-PERP	−0.0080%	1h	2,753.3	+0.026%	$5K	$1K	50x	as long as short
Phemex ETHUSDT	−0.0063%	8h	2,751.7	−0.034%	$264.9M	$61.5M	150x	as long as short
Bybit ETHUSDT	−0.0037%	8h	2,751.1	−0.053%	$2.36B	$4.16B	150x	as long as short
Phoenix ETH	−0.0012%	1h	2,752.8	+0.008%	$815K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,753.6	+0.036%	$12.0M	—	200x	as long as short
Hibachi ETH/USDT-P	−0.0008%	1h	2,753.8	+0.045%	$240K	$1.3M	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,753.5	+0.033%	$11.1M	$41.5M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,752.9	+0.011%	$7.1M	$664.0M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,751.5	−0.041%	$274K	$5.3M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,754.1	+0.054%	$33.2M	—	200x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSDshort	+0.0016%	1h	2,752.6	0.000%	$183K	$934K	50x
Deribit ETH-PERPETUAL	+0.0030%	1h	2,752.9	+0.012%	$266.5M	$211.7M	50x	as long as short
Gate ETH_USDT	+0.0036%	8h	2,751.3	−0.046%	$3.30B	$8.54B	200x	as long as short
OKX ETH-USDT-SWAP	+0.0071%	8h	2,750.7	−0.070%	$1.67B	$10.23B	100x	as long as short
Aster ETHUSDT	+0.0073%	8h	2,751.8	−0.030%	$254.1M	$797.6M	200x	as long as short
ApeX Omni ETHUSDT	+0.0075%	1h	2,751.6	−0.036%	$8.4M	$30.4M	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,749.3	−0.120%	$4.9M	$199K	20x	as long as short
MEXC ETH_USDT	+0.0082%	8h	2,751	−0.057%	$1.58B	$2.62B	500x	as long as short
Binance ETHUSDT	+0.0083%	8h	2,751.5	−0.041%	$6.41B	$15.44B	150x	as long as short
SoDEX ETH-USD	+0.0086%	1h	2,751.5	−0.040%	$54.8M	$160.0M	40x	as long as short
KuCoin ETHUSDTM	+0.0087%	8h	2,751.7	−0.033%	$366.7M	$482.0M	100x	as long as short
HTX ETH-USDT	+0.0088%	8h	2,750.9	−0.063%	$1.05B	$1.17B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,751.7	−0.033%	$113.5M	$410.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,753.2	+0.023%	$24.9M	$100.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,751.9	−0.024%	—	$24.8M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,752.2	−0.014%	$523K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,757.6	+0.184%	$15.7M	$6.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,753.1	+0.018%	$14.6M	$100.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,753.6	+0.035%	$3.14B	$1.94B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,754	+0.053%	$32.2M	$327.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,752.5	−0.003%	$2.8M	$15.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,753.5	+0.033%	$1.5M	$15.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.4	−0.045%	$166.7M	$340.7M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,750.9	−0.061%	$2.13B	$2.55B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,750.5	−0.076%	—	$18.5M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,751	−0.059%	$15.0M	$37.9M	50x	as long as short
Variational Omni ETHlong	+0.0100%	8h	2,752.6	long leg	$132.1M	$307.7M	—
edgeX ETHUSDC	+0.0100%	4h	2,751.1	−0.054%	$186.4M	$692.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,751.7	−0.031%	$160.0M	$74.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,754.2	+0.058%	$21.1M	$71.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,753.5	+0.033%	—	$415K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,752.7	+0.004%	$11.3M	$9.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,751.5	−0.040%	$177K	$1.7M	20x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,751.5	−0.040%	$948K	$10.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,750.7	−0.069%	$30.4M	$68.7M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0104%	1h	2,752.1	−0.018%	$82.7M	$291.6M	100x	as long as short
Aftermath Perps ETHUSD	+0.0110%	1h	2,749.6	−0.107%	$30K	$12K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,752.6	−0.001%	$45.5M	$4.14B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,752.4	−0.005%	$5.6M	$11.3M	25x	as long as short
Reya ETHRUSDPERP	+0.0168%	1h	2,750.3	−0.082%	$7.4M	$896K	25x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,751.5	−0.040%	$281.4M	$170.1M	150x	as long as short
Orderly PERP_ETH_USDC	+0.0181%	8h	2,753.7	+0.041%	$32.5M	$10.5M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,755.1	+0.091%	$122K	$23.8M	52x	as long as short
Bluefin ETH-PERP	+0.0622%	1h	2,752.1	−0.016%	$20K	$15K	25x	as long as short