Funding you earn now, next payment 08:00 UTC−0.0095%/8h= −10.4% APRnext payment −$0.47 per $10,000 · paid last 24h −0.269%
Price spread now: Variational Omni against Orderly−0.378%48s7-day average −0.153% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.447%−$45 on $10k
+Price spread, last 4 days (all we have)+0.461%+$46 · spread now −0.378%, 7d avg −0.153%
=Together, before fees+0.014%+ Points / potential airdropVariational Omni: Active · farm board+$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Variational Omni is 0.225% cheaper against Orderly than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.153%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_S_USDC | 0.04273 | 0.0089 | pay 0.0045% / 4h | 14m 32s | $106K | $601K | 10x |
| Short | Variational Omni S | 0.04257 | −0.0006 | pay 0.0003% / 4h | 14m 32s | $660K | $5K | — |
Orderly PERP_S_USDC
Variational Omni SFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Orderly. 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
- −$19.87
- Price spread: −0.378% → −0.153%
- −$22.53
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$48.39
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 25 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 25 min ago | 7.32 bp | doesn't fit | 80.5 bp −$805 | doesn't fit | doesn't fit |
Orderly: 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.
S on 25 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange SUSD | −1.2040% | 1h | 0.04130 | −3.347% | $26K | $2K | 5x | as long as short |
| Kraken Futures PF_SUSD | −0.1850% | 1h | 0.04271 | −0.040% | $37K | $20K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1064% | 1h | 0.04073 | −4.681% | $49K | $17K | 25x | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.04281 | +0.183% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.04281 | +0.179% | $4 | — | 15x | as long as short |
| Variational Omni Sshort | −0.0006% | 4h | 0.04257 | −0.378% | $660K | $5K | — | |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.04280 | +0.164% | $660 | — | 150x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | −4.049% | $2K | $37K | 12x | as long as short |
| Orderly PERP_S_USDClong | +0.0089% | 4h | 0.04273 | long leg | $106K | $601K | 10x | |
| Lighter S | +0.0096% | 1h | 0.04294 | +0.491% | $185K | $143K | 5x | as long as short |
01 Exchange SUSD
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
gTrade (Gains Network) S/USD
Injective S/USDC PERP
Lighter SShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid S | +0.0100% | 1h | 0.04303 | +0.690% | $1.1M | $623K | 5x | as long as short |
| Aster SUSDT | +0.0100% | 4h | 0.04304 | +0.733% | $46K | $147K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.04304 | +0.714% | $6.1M | $14.6M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.04300 | +0.632% | $6.2M | $4.4M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.04296 | +0.538% | $1.1M | $4.2M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.04292 | +0.445% | $346K | $201K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.04295 | +0.515% | $4.4M | $2.0M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.04291 | +0.421% | $2.0M | $2.8M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04305 | +0.749% | $1.3M | $2.4M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.04296 | +0.538% | — | $6.9M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.04200 | −1.708% | $24K | $501K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.04291 | +0.433% | $239K | $1.3M | 10x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.0218% | 1h | 0.04278 | +0.117% | $72K | $10K | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.04298 | +0.585% | $293K | $125K | 75x | as long as short |
| Backpack S_USDC_PERP | +0.1002% | 1h | 0.04290 | +0.398% | $107K | $466K | 5x | as long as short |
Hyperliquid S
Aster SUSDT
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
Deribit S_USDC-PERPETUAL
BloFin S-USDT
Backpack S_USDC_PERP