Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.075%

Price spread now: Injective against Variational Omni−10.150%61s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 10.150% cheaper against Variational Omni than usual: you would sell low and buy high (−$1,015 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 61 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	Variational Omni H	0.06956	0.0100	pay 0.0050% / 4h	58m 20s	$8K	$10K	—
Short	Injective H/USDC PERP	0.06250	0.0033	get 0.0004% / 1h	58m 20s	$1K	$1	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now −10.150%Rate

Funding earned: −$14
Price spread: −10.150% → 0.000%: −$1,015.03
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,029.05
Costs to cover: 0.000%
Break-even: never at this rate

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

Variational Omni and Injective: 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.

H on 14 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
Injective H/USDC PERPshort	+0.0033%	1h	0.06250	−10.150%	$1K	$1	5.5x
Aster HUSDT	+0.0100%	4h	0.06975	+0.272%	$115K	$53K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06986	+0.436%	$15.0M	$10.5M	10x	as long as short
Bybit HUSDT	+0.0100%	4h	0.06980	+0.344%	$7.6M	$4.6M	13x	as long as short
OKX H-USDT-SWAP	+0.0100%	4h	0.06994	+0.545%	$1.7M	$5.8M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06979	+0.330%	$2.9M	$1.8M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06985	+0.416%	$6.3M	$1.1M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06981	+0.359%	$1.6M	$10.0M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06977	+0.301%	$1.7M	$444K	4x	as long as short
BingX H-USDT	+0.0100%	4h	0.06979	+0.330%	—	$2.7M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni Hlong	+0.0100%	4h	0.06956	long leg	$8K	$10K	—
GRVT H_USDT_Perp	+0.0100%	4h	0.06963	+0.101%	$1.2M	$437K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.06986	+0.437%	$11K	$107K	5x	as long as short
BloFin H-USDT	+0.0134%	4h	0.06968	+0.172%	$589K	$116K	25x	as long as short