Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0532%/8h= −58.3% APRpaid last 24h −0.127%

Price spread now: Variational Omni against GMX−0.281%7-day average −0.086% · you buy dearer than you sell

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.188%−$19 on $10k

Price spread, last 3 days (all we have)+0.193%+$19 · spread now −0.281%, 7d avg −0.086%

Together, before fees+0.005%+ Points / potential airdropVariational Omni: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Variational Omni is 0.195% cheaper against GMX than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.086%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX FIL/USD [WBTC.b-USDC]	0.9906	L +0.0617% / S −0.0742%	pay 0.0077% / 1h	42m 19s	$215K	—	100x
Short	Variational Omni FIL	0.9879	0.0085	get 0.0085% / 8h	1h 42m	$440K	$277K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. 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 GMXbpFee Variational OmnibpOrdersPrice spread, now −0.281%Rate

Funding earned: −$111.79
Price spread: −0.281% → −0.086%: −$19.52
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$143.31
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 42 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 GMX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 42 min ago	3.55 bp	doesn't fit	39.1 bp −$391	doesn't fit	doesn't fit

GMX: 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	−0.0758%	1h	0.9907	+0.006%	$171K	$23K	25x	as long as short
Kraken Futures PF_FILUSD	−0.0693%	1h	0.9904	−0.020%	$1.4M	$2.3M	50x	as long as short
Coinbase International FIL-PERP-INTX	−0.0376%	1h	0.9916	+0.097%	$317K	$1.9M	50x	as long as short
Injective FIL/USDC PERP	−0.0252%	1h	0.9855	−0.519%	$2K	$240K	12x	as long as short
Lighter FIL	−0.0064%	1h	0.9892	−0.141%	$159K	$348K	5x	as long as short
Bitget FILUSDT	−0.0020%	8h	0.9897	−0.095%	$10.9M	$21.4M	75x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9906	0.000%	$25K	—	150x	as long as short
Bybit FILUSDT	−0.0002%	8h	0.9903	−0.034%	$15.6M	$17.9M	25x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9904	−0.021%	$58K	$2K	10x	as long as short
KuCoin FILUSDTM	+0.0018%	8h	0.9899	−0.075%	$7.4M	$7.0M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX FIL-USDT-SWAP	+0.0031%	8h	0.9900	−0.065%	$18.3M	$97.1M	50x	as long as short
MEXC FIL_USDC	+0.0076%	8h	0.9892	−0.145%	$251K	$103K	50x	as long as short
Extended FIL-USD	+0.0080%	1h	0.9897	−0.095%	$692K	$2.3M	10x	as long as short
Binance FILUSDT	+0.0081%	8h	0.9902	−0.044%	$56.9M	$174.8M	75x	as long as short
Variational Omni FILshort	+0.0085%	8h	0.9879	−0.281%	$440K	$277K	—
BingX FIL-USDC	+0.0086%	8h	0.9901	−0.054%	—	$6.5M	—	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9896	−0.102%	$8.7M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9901	−0.054%	$490K	$515K	20x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9900	−0.065%	$7.8M	$16.1M	50x	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9891	−0.150%	$45K	$294K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9893	−0.136%	$296K	$814K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9900	−0.065%	$30K	$198K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9910	+0.041%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9890	−0.165%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9899	−0.075%	$485	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9894	−0.125%	$627K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9890	−0.165%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0201%	8h	0.9891	−0.155%	$2.6M	$657K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]long	L +0.0617% / S −0.0742%	1h	0.9906	long leg	$215K	—	100x