Funding arb · Price arb /

METIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Variational Omni against OKX+0.681%7-day average — · you sell dearer than you buy

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

Long on OKX 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.681% dearer against OKX than usual: you sell high and buy low, +$68 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	OKX METIS-USDT-SWAP	3.5080	0.0100	pay 0.0050% / 4h	49m 32s	$391K	$973K	10x
Short	Variational Omni METIS	3.5319	0.0100	get 0.0050% / 4h	49m 32s	$33K	$34K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. 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 OKXbpFee Variational OmnibpOrdersPrice spread, now +0.681%Rate

Funding earned: $0
Price spread: +0.681% → 0.000%: $68.08
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $58.08
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 62 min ago; 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 OKX live order book, 62 min ago	9.89 bp	38.3 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

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.

METIS on 12 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 METIS/USDC PERP	+0.0033%	1h	3.2100	−8.495%	—	$40K	5.5x	as long as short
Kraken Futures PF_METISUSD	+0.0090%	1h	3.4978	−0.292%	$2K	$3K	10x	as long as short
Aster METISUSDT	+0.0100%	4h	3.5010	−0.200%	$12K	$24K	5x	as long as short
Binance METISUSDT	+0.0100%	4h	3.5028	−0.149%	$2.1M	$4.3M	50x	as long as short
Bybit METISUSDT	+0.0100%	4h	3.5060	−0.057%	$695K	$592K	20x	as long as short
OKX METIS-USDT-SWAPlong	+0.0100%	4h	3.5080	long leg	$391K	$973K	10x
Gate METIS_USDT	+0.0100%	4h	3.4970	−0.314%	$151K	$140K	50x	as long as short
MEXC METIS_USDT	+0.0100%	4h	3.5010	−0.200%	$648K	$226K	50x	as long as short
Bitget METISUSDT	+0.0100%	4h	3.5020	−0.171%	$212K	$443K	50x	as long as short
Variational Omni METISshort	+0.0100%	4h	3.5319	+0.681%	$33K	$34K	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX METIS-USDT	+0.0116%	4h	3.5080	0.000%	—	$2.4M	—	as long as short
KuCoin METISUSDTM	+0.0836%	4h	3.5090	+0.029%	$630K	$196K	30x	as long as short