Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1289%/8h= +141.1% APRpaid last 24h +0.335%

Price spread now: ApeX Omni against Variational Omni+0.330%7-day average +0.200% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.598%+$60 on $10k

Price spread, last 3 days (all we have)−0.286%−$29 · spread now +0.330%, 7d avg +0.200%

Together, before fees+0.312%+ Points / potential airdropVariational Omni: Active · farm board+$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$39 a day on $10k at the current rate, and ApeX Omni is 0.130% dearer against Variational Omni than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.200%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni S	0.03947	−0.1189	get 0.0594% / 4h	2h 52m	$614K	$42K	—
Short	ApeX Omni SUSDT	0.03960	0.0100	get 0.0013% / 1h	52m 45s	$24K	$475K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ApeX OmnibpOrdersPrice spread, now +0.330%Rate

Funding earned: $270.61
Price spread: +0.330% → +0.200%: $12.98
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $273.59
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 36 min ago; ApeX Omni: live order book, 34 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 Variational Omni RFQ quote, 36 min ago	6.32 bp	doesn't fit	82.1 bp −$821	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 34 min ago	12.64 bp	58.5 bp −$59	doesn't fit	doesn't fit	doesn't fit

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
Kraken Futures PF_SUSD	−0.1450%	1h	0.03935	−0.312%	$33K	$33K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−3.065%	$47K	$5K	25x	as long as short
Variational Omni Slong	−0.1189%	4h	0.03947	long leg	$614K	$42K	—
GMX S/USD [WBTC.b-USDC]	L −0.0173% / S +0.0169%	1h	0.03940	−0.174%	$1K	—	100x	as long as short
01 Exchange SUSD	−0.0104%	1h	0.03940	−0.177%	$24K	$3K	5x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03935	−0.308%	$4	—	15x	as long as short
Aster SUSDT	−0.0037%	4h	0.03936	−0.270%	$43K	$212K	10x	as long as short
Orderly PERP_S_USDC	−0.0019%	4h	0.03935	−0.304%	$101K	$340K	10x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03940	−0.177%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03939	−0.204%	$607	—	150x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0019%	1h	0.03927	−0.496%	$990K	$928K	5x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.877%	$2K	$37K	12x	as long as short
OKX S-USDT-SWAP	+0.0071%	4h	0.03924	−0.582%	$976K	$8.1M	20x	as long as short
Lighter S	+0.0096%	1h	0.03931	−0.405%	$165K	$240K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03927	−0.506%	$5.4M	$25.3M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03920	−0.684%	$5.6M	$6.7M	50x	as long as short
Gate S_USDT	+0.0100%	4h	0.03928	−0.481%	$321K	$291K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03931	−0.405%	$3.5M	$2.5M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03926	−0.532%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03928	−0.481%	$1.2M	$3.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03927	−0.506%	—	$6.8M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03940	−0.177%	$115K	$289K	5x	as long as short
ApeX Omni SUSDTshort	+0.0100%	1h	0.03960	+0.330%	$24K	$475K	50x
Extended S-USD	+0.0104%	1h	0.03928	−0.484%	$221K	$890K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03925	−0.557%	$273K	$180K	75x	as long as short