Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.186%

Price spread now: Lighter against Variational Omni+0.103%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.103% dearer against Variational Omni than usual: you sell high and buy low: +$10 more if the spread 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	Variational Omni NOT	0.0005049	0.0020	pay 0.0010% / 4h	2h 55m	$66K	$34K	—
Short	Lighter 1000NOT	0.0005054	0.0096	get 0.0012% / 1h	55m 53s	$11K	$5K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.103%Rate

Funding earned: $15.92
Price spread: +0.103% → 0.000%: $10.35
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $26.26
Costs to cover: 0.000%
Break-even: from the start

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

Variational Omni and Lighter: 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.

NOT on 16 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
Variational Omni NOTlong	+0.0020%	4h	0.0005049	long leg	$66K	$34K	—
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.458%	$1K	$13K	5.5x	as long as short
Lighter 1000NOTshort	+0.0096%	1h	0.0005054	+0.103%	$11K	$5K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005050	+0.028%	$369K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005041	−0.154%	$14K	$13K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005042	−0.122%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005036	−0.249%	$2.1M	$823K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005042	−0.130%	$610K	$586K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005041	−0.150%	$140K	$76K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005041	−0.150%	$1.4M	$479K	200x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0005038	−0.209%	$489K	$121K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005047	−0.031%	$665K	$381K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005041	−0.150%	—	$720K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005042	−0.131%	$4K	$1K	5x	as long as short
BloFin NOT-USDT	+0.0124%	4h	0.0005044	−0.091%	$113K	$17K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.7068%	1h	0.0005083	+0.680%	$49K	$9K	10x	as long as short