Funding arb · Price arb /

FOGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Variational Omni against Lighter−0.332%7-day average — · you buy dearer than you sell

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

Long on Lighter 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 airdropLighter: Season 3 · Variational 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 0.332% cheaper against Lighter than usual: you would sell low and buy high, −$33 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	Lighter FOGO	0.006947	0.0096	pay 0.0012% / 1h	15m 16s	$11K	$11K	3x
Short	Variational Omni FOGO	0.006924	0.0100	get 0.0050% / 4h	3h 15m	$97K	$2K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. 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 LighterbpFee Variational OmnibpOrdersPrice spread, now −0.332%Rate

Funding earned: $0.84
Price spread: −0.332% → 0.000%: −$33.21
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$32.37
Costs to cover: 0.000%
Break-even: 276.8 days

Slippage unknown: Lighter: no order-book sample; Variational Omni: no order-book sample. 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 Lighter no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

Lighter and Variational Omni: 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.

FOGO on 13 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
Lighter FOGOlong	+0.0096%	1h	0.006947	long leg	$11K	$11K	3x
Hyperliquid FOGO	+0.0100%	1h	0.006938	−0.130%	$717K	$318K	3x	as long as short
Aster FOGOUSDT	+0.0100%	4h	0.006933	−0.202%	$13K	$13K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006943	−0.058%	$1.9M	$2.1M	50x	as long as short
Bybit FOGOUSDT	+0.0100%	4h	0.006938	−0.130%	$764K	$188K	50x	as long as short
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006934	−0.187%	$525K	$834K	10x	as long as short
Gate FOGO_USDT	+0.0100%	4h	0.006920	−0.389%	$110K	$48K	50x	as long as short
MEXC FOGO_USDT	+0.0100%	4h	0.006942	−0.072%	$321K	$125K	50x	as long as short
KuCoin FOGOUSDTM	+0.0100%	4h	0.006930	−0.245%	$286K	$94K	50x	as long as short
Bitget FOGOUSDT	+0.0100%	4h	0.006940	−0.101%	$132K	$99K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX FOGO-USDT	+0.0100%	4h	0.006925	−0.317%	—	$1.3M	—	as long as short
Variational Omni FOGOshort	+0.0100%	4h	0.006924	−0.332%	$97K	$2K	—
SunX FOGO-USDT	+0.0100%	4h	0.006930	−0.245%	$2K	$1.2M	20x	as long as short