Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.4685 | +0.0100 | pay 0.0100% / 8h | 1h 49m | $417K | $282K | 50x | Long Variational Omni+15% pts | |
| SHORT | 0.4685 | +0.0100 | get 0.0100% / 8h | 1h 49m | $1.3M | $2.1M | 50x | Short Phemex |
Price gap+0.009%
Funding gap0.0000% /8h
Funding is ≈ 0 and the gap is 0.087% under its 7d average: the price leg works against you, −$9 on $10k if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$50.0000% /8h now · paid +0.047% over the last 6 days (all we have)
Price−$9spread +0.009% now, avg +0.097% → −0.087% if it goes back
Costs−$1221.221% of $10k · taker + slippage, in and out
Result−$126−1.26%+ Points / potential airdropVariational Omni: points · farm boardWhat the last 7D really paid, hour by hour → backtest
Funding history
you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.
Price spread between the two exchanges
Phemex price against Variational Omninow
RANGE STATS · 7D
Now+0.009%
Average—
Range—
Wider than now—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hLDO on 29 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Watch: Thin at this size23.5 / 37.6 bpAt $10k entering Phemex costs 37.6 bp, fee and slippage, 1.6× Variational Omni’s.
- Note: Margin at max leverage$200 + $200Variational Omni 50x, Phemex 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval8h / 8hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: $0.00Long Variational Omni: 3 payments, −$3.00; short Phemex: 3 payments, +$3.00.
- Watch: Gap narrower than usual+0.009% vs +0.097%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$417K vs $1.3M OIVariational Omni sets your exit cost. Check its book before closing.
- OK: Points on a legVariational Omni pointsVolume here counts toward the points program.
- Watch: KYCVariational Omni No · Phemex YesKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0027%/8h × 21 periods+$5.61
Price spread+0.009% → +0.097% (7d avg)−$8.72
Slippage, 4 orderslive order books−$110.11
Fee Variational Omni bp × 2 orders$0.00
Fee Phemex bp × 2 orders−$12.00
Net · 7 days · $10k−$125.22
Costs to cover1.221%Break-even163.3 days
Slippage: Variational Omni: RFQ quote, 10 min ago; Phemex: live order book, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGVariational Omni6.4023.5 bp−$2338.4 bp−$384doesn’t fitdoesn’t fit
SELL · SHORTPhemex8.5237.6 bp−$38doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.