Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against MEXC+0.206%7-day average +0.051% · you sell dearer than you buy

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

Long on MEXC Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now +0.206%, 7d avg +0.051%

Together, before fees−0.030%+ Points / potential airdropVariational Omni: 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: Variational Omni is 0.155% dearer against MEXC than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC FET_USDT	0.2036	0.0100	pay 0.0100% / 8h	7m 19s	$34.4M	$25.1M	200x
Short	Variational Omni FET	0.2040	0.0100	get 0.0100% / 8h	7m 19s	$359K	$399K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. 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 MEXCbpFee Variational OmnibpOrdersPrice spread, now +0.206%Rate

Funding earned: $0
Price spread: +0.206% → +0.051%: $15.52
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $15.52
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: MEXC: live order book, 2 min ago; Variational Omni: RFQ quote, 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 MEXC live order book, 2 min ago	2.44 bp	6.3 bp −$6	11.9 bp −$119	50.8 bp −$5,081	199.9 bp −$99.9K
Sell Variational Omni RFQ quote, 7 min ago	7.32 bp	doesn't fit	36.6 bp −$366	doesn't fit	doesn't fit

FET on 20 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 FET_USDC-PERPETUAL	−0.2688%	1h	0.2036	0.000%	$29K	$201K	10x	as long as short
Coinbase International FET-PERP-INTX	−0.0728%	1h	0.2043	+0.344%	$152K	$207K	50x	as long as short
Kraken Futures PF_FETUSD	−0.0478%	1h	0.2039	+0.149%	$995K	$2.2M	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0013%	1h	0.2036	+0.006%	$32K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−1.277%	$3K	$166K	12x	as long as short
Gate FET_USDT	+0.0054%	8h	0.2036	0.000%	$2.8M	$12.2M	50x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2037	+0.074%	$338K	$544K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2037	+0.038%	$31.9M	$109.2M	75x	as long as short
MEXC FET_USDTlong	+0.0100%	8h	0.2036	long leg	$34.4M	$25.1M	200x
KuCoin FETUSDTM	+0.0100%	8h	0.2037	+0.049%	$10.8M	$19.2M	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni FETshort	+0.0100%	8h	0.2040	+0.206%	$359K	$399K	—
Orderly PERP_FET_USDC	+0.0100%	8h	0.2035	−0.049%	$38K	$6K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2036	+0.006%	$33K	$191K	10x	as long as short
GMX FET/USD [ETH-USDC]	L +0.0201% / S −0.0278%	1h	0.2035	−0.031%	$14K	—	100x	as long as short
BloFin FET-USDT	+0.0220%	8h	0.2039	+0.147%	$1.7M	$2.7M	100x	as long as short
BingX FET-USDT	+0.0287%	8h	0.2037	+0.049%	—	$5.7M	—	as long as short
OKX FET-USDT-SWAP	+0.0293%	4h	0.2039	+0.147%	$992K	$7.9M	20x	as long as short
Bitget FETUSDT	+0.0299%	8h	0.2038	+0.098%	$16.4M	$11.5M	75x	as long as short
Hyperliquid FET	+0.0412%	1h	0.2038	+0.088%	$9.0M	$8.0M	5x	as long as short
Phoenix FET	+0.0508%	1h	0.2047	+0.565%	$36K	$45K	5x	as long as short