Funding arb · Price arb /

MEW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Bybit−0.215%7-day average — · you buy dearer than you sell

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

Long on Bybit 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 0.215% cheaper against Bybit than usual: you would sell low and buy high, −$22 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	Bybit MEWUSDT	0.0004680	0.0100	pay 0.0050% / 4h	1h 21m	$1.5M	$1.0M	25x
Short	Variational Omni MEW	0.0004670	0.0100	get 0.0050% / 4h	1h 21m	$82K	$32K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.215%Rate

Funding earned: $0
Price spread: −0.215% → 0.000%: −$21.55
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$32.55
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 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 Bybit live order book, 5 min ago	6.43 bp	28.5 bp −$29	73.1 bp −$731	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.

MEW 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
GMX MEW/USD [WBTC.b-USDC]	L 0.0000% / S 0.0000%	1h	0.0004670	−0.214%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.850%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004680	0.000%	$1.1M	$2.6M	50x	as long as short
Bybit MEWUSDTlong	+0.0100%	4h	0.0004680	long leg	$1.5M	$1.0M	25x
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004676	−0.085%	$525K	$664K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004673	−0.150%	$125K	$75K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004683	+0.064%	$387K	$172K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004679	−0.021%	$354K	$111K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004678	−0.043%	$488K	$353K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004676	−0.085%	—	$24.2M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEWshort	+0.0100%	4h	0.0004670	−0.215%	$82K	$32K	—
Kraken Futures PF_MEWUSD	+0.0436%	1h	0.0004693	+0.277%	$93K	$130K	10x	as long as short