Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: Variational Omni against Polymarket Perps−0.178%7-day average — · you buy dearer than you sell

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

Long on Polymarket Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 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 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.178% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$18 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	Polymarket Perps ETHFI-USD	0.7160	0.0100	pay 0.0013% / 1h	14m 45s	$60K	$85K	5x
Short	Variational Omni ETHFI	0.7147	0.0100	get 0.0050% / 4h	2h 14m	$1.0M	$707K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Polymarket Perps. 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 Polymarket PerpsbpFee Variational OmnibpOrdersPrice spread, now −0.178%Rate

Funding earned: $0
Price spread: −0.178% → 0.000%: −$17.77
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$25.77
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: no order-book sample; Variational Omni: RFQ quote, 4 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 Polymarket Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	4.90 bp	doesn't fit	46.9 bp −$469	doesn't fit	doesn't fit

Polymarket Perps: 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.

ETHFI on 24 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
Deribit ETHFI_USDC-PERPETUAL	−0.0588%	1h	0.7158	−0.027%	$42K	$18K	10x	as long as short
HTX ETHFI-USDT	−0.0220%	4h	0.7147	−0.180%	$83K	$165K	20x	as long as short
Kraken Futures PF_ETHFIUSD	−0.0213%	1h	0.7164	+0.058%	$282K	$145K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0172%	4h	0.7154	−0.082%	$16K	$1K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.119%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0043%	8h	0.7155	−0.063%	$6K	—	5x	as long as short
Bitget ETHFIUSDT	+0.0044%	4h	0.7156	−0.054%	$6.1M	$5.6M	75x	as long as short
Extended ETHFI-USD	+0.0088%	1h	0.7152	−0.111%	$92K	$495K	10x	as long as short
MEXC ETHFI_USDT	+0.0088%	4h	0.7153	−0.096%	$15.2M	$3.8M	125x	as long as short
Binance ETHFIUSDT	+0.0091%	4h	0.7154	−0.078%	$24.9M	$37.0M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter ETHFI	+0.0096%	1h	0.7160	+0.008%	$1.1M	$909K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7165	+0.064%	$18.2M	$8.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7162	+0.034%	$183K	$255K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7160	+0.001%	$18.3M	$12.8M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7157	−0.041%	$4.9M	$12.4M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7161	+0.015%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7155	−0.068%	$1.2M	$270K	50x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7158	−0.027%	—	$1.2M	—	as long as short
Variational Omni ETHFIshort	+0.0100%	4h	0.7147	−0.178%	$1.0M	$707K	—
Polymarket Perps ETHFI-USDlong	+0.0100%	1h	0.7160	long leg	$60K	$85K	5x
SunX ETHFI-USDT	+0.0100%	4h	0.7158	−0.027%	$1K	$1.1M	20x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7155	−0.068%	$9K	—	3x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0152%	1h	0.7165	+0.071%	$31K	$8K	50x	as long as short
BloFin ETHFI-USDT	+0.0328%	4h	0.7154	−0.082%	$1.3M	$294K	75x	as long as short