Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.014%

Price spread now: Variational Omni against dYdX−0.473%53s7-day average — · you buy dearer than you sell

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

Long on dYdX 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 pays, the price is against you. Variational Omni is 0.473% cheaper against dYdX than usual: you would sell low and buy high (spread −0.473% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$47 on $10k: about 16 days of funding at the current rate (+$3 a day). The two prices were read 53 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	dYdX FIL-USD	0.9998	0	get 0.0000% / 1h	1m 48s	$58K	$2K	10x
Short	Variational Omni FIL	0.9951	0.0100	get 0.0100% / 8h	4h 01m	$448K	$264K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. 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 dYdXbpFee Variational OmnibpOrdersPrice spread, now −0.473%Rate

Funding earned: $21
Price spread: −0.473% → 0.000%: −$47.3
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$36.3
Costs to cover: 0.100%
Break-even: 19.1 days

Slippage unknown: dYdX: no order-book sample; Variational Omni: RFQ quote, 57 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 dYdX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 57 min ago	3.24 bp	doesn't fit	35.3 bp −$353	doesn't fit	doesn't fit

dYdX: 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.

FIL on 29 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 FIL_USDC-PERPETUAL	−0.0449%	1h	1.0010	+0.120%	$172K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0208%	1h	1.0005	+0.070%	$366K	$2.1M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0028%	8h	1.0014	+0.160%	$18.5M	$105.5M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	1.0005	+0.074%	$26K	—	150x	as long as short
dYdX FIL-USDlong	0.0000%	1h	0.9998	long leg	$58K	$2K	10x
KuCoin FILUSDTM	+0.0008%	8h	1.0011	+0.130%	$7.3M	$7.6M	50x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−1.431%	$2K	$240K	12x	as long as short
Kraken Futures PF_FILUSD	+0.0043%	1h	1.0012	+0.141%	$1.4M	$2.3M	50x	as long as short
Lighter FIL	+0.0096%	1h	1.0003	+0.054%	$154K	$365K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	1.0017	+0.190%	$8.5M	$9.4M	5x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster FILUSDT	+0.0100%	8h	1.0010	+0.124%	$514K	$610K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	1.0012	+0.143%	$57.6M	$183.6M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	1.0014	+0.160%	$15.8M	$20.1M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	1.0010	+0.120%	$8.5M	$16.8M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	1.0008	+0.100%	$243K	$105K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	1.0015	+0.170%	$11.2M	$20.4M	75x	as long as short
BingX FIL-USDC	+0.0100%	8h	1.0012	+0.140%	—	$6.5M	—	as long as short
Variational Omni FILshort	+0.0100%	8h	0.9951	−0.473%	$448K	$264K	—
edgeX FILUSDC	+0.0100%	4h	0.9959	−0.391%	$45K	$296K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9957	−0.406%	$289K	$1.0M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9970	−0.281%	$30K	$182K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	1.0013	+0.149%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	1.0000	+0.020%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	1.0006	+0.080%	$484	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	1.0010	+0.120%	$625K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	1.0000	+0.020%	$1.2M	$2.5M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	1.0003	+0.050%	$707K	$3.3M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9957	−0.411%	$2.7M	$664K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0574% / S −0.0237%	1h	1.0006	+0.076%	$267K	—	100x	as long as short