Funding you earn now, next payment 00:00 UTC−0.0028%/8h= −3.1% APRnext payment −$0.28 per $10,000 · paid last 24h −0.025%
Price spread now: Variational Omni against Bybit−0.133%7-day average +0.016% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.041%−$4 on $10k
+Price spread, last 3 days (all we have)+0.335%+$34 · spread now −0.133%, 7d avg +0.016%
=Together, before fees+0.294%+ Points / potential airdropVariational Omni: Active · farm board+$29 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.149% cheaper against Bybit than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.016%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit OPUSDT | 0.1278 | 0.0100 | pay 0.0100% / 8h | 33m 52s | $18.5M | $25.8M | 75x |
| Short | Variational Omni OP | 0.1276 | 0.0072 | get 0.0072% / 8h | 33m 52s | $234K | $54K | — |
Bybit OPUSDT
Variational Omni OPFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$5.97
- Price spread: −0.133% → +0.016%
- −$14.86
- 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
- −$31.84
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 5 min ago; Variational Omni: RFQ quote, 45 min ago. 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 | 0.39 bp | 10.1 bp −$10 | 25.3 bp −$253 | 101.2 bp −$10.1K | doesn't fit |
| Sell Variational Omni RFQ quote, 45 min ago | 7.82 bp | doesn't fit | 31.3 bp −$313 | doesn't fit | doesn't fit |
OP on 30 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 OP/USDC PERP | −0.1633% | 1h | 0.1273 | −0.391% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1279 | +0.082% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0532% | 1h | 0.1278 | 0.000% | $42K | $171K | 25x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0344% | 1h | 0.1276 | −0.156% | $21K | $65K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1281 | +0.219% | $40K | $519 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1279 | +0.095% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0064% | 8h | 0.1279 | +0.078% | $6K | $50K | 10x | as long as short |
| Variational Omni OPshort | +0.0072% | 8h | 0.1276 | −0.133% | $234K | $54K | — | |
| Lighter OP | +0.0096% | 1h | 0.1280 | +0.180% | $291K | $922K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1280 | +0.141% | $4.1M | $2.9M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
Coinbase International OP-PERP-INTX
dYdX OP-USD
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1279 | +0.095% | $214K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1279 | +0.065% | $20.7M | $61.8M | 75x | as long as short |
| Bybit OPUSDTlong | +0.0100% | 8h | 0.1278 | long leg | $18.5M | $25.8M | 75x | |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1278 | +0.016% | $6.1M | $30.5M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1280 | +0.117% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1279 | +0.070% | $20.2M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1278 | 0.000% | $2.9M | $7.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1279 | +0.078% | $6.1M | $6.3M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1279 | +0.078% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1279 | +0.047% | $124K | $189K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1279 | +0.046% | $9K | $383K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1278 | 0.000% | $319K | $5.0M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1280 | +0.156% | $46K | $721K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1279 | +0.063% | $200 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1280 | +0.164% | $177K | $235K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1279 | +0.069% | $102K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1279 | +0.067% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1280 | +0.172% | $1.0M | $291K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0357% | 1h | 0.1280 | +0.169% | $801K | $746K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0437% | 1h | 0.1278 | +0.006% | $711 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP