Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.362%

Price spread now: Extended against Variational Omni+0.520%7-day average +0.069% · you sell dearer than you buy

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.655%+$66 on $10k

Price spread, last 4 days (all we have)−1.063%−$106 · spread now +0.520%, 7d avg +0.069%

Together, before fees−0.407%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Extended is 0.451% dearer against Variational Omni than usual: you sell high and buy low: +$45 more if the spread goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni S	0.03906	−0.0036	get 0.0018% / 4h	4m 49s	$607K	$30K	—
Short	Extended S-USD	0.03927	0.0104	get 0.0013% / 1h	4m 49s	$221K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.520%Rate

Funding earned: $29.34
Price spread: +0.520% → +0.069%: $45.12
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $69.46
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 54 min ago; Extended: live order book, 3 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, 54 min ago	7.31 bp	doesn't fit	97.5 bp −$975	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	6.26 bp	36.8 bp −$37	259.5 bp −$2,595	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
01 Exchange SUSD	−0.6480%	1h	0.03920	+0.350%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2598%	1h	0.03929	+0.591%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.03908	+0.043%	$47K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03932	+0.665%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03927	+0.539%	$4	—	15x	as long as short
Variational Omni Slong	−0.0036%	4h	0.03906	long leg	$607K	$30K	—
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03933	+0.676%	$606	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.958%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0071%	4h	0.03932	+0.657%	$97K	$281K	10x	as long as short
Lighter S	+0.0096%	1h	0.03933	+0.683%	$165K	$158K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03928	+0.545%	$984K	$570K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03932	+0.654%	$43K	$131K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03928	+0.555%	$5.3M	$13.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03922	+0.401%	$5.6M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03924	+0.453%	$997K	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03925	+0.478%	$320K	$199K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03932	+0.657%	$3.6M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03928	+0.555%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03931	+0.632%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03926	+0.504%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03990	+2.142%	$24K	$463K	50x	as long as short
Extended S-USDshort	+0.0104%	1h	0.03927	+0.520%	$221K	$1.1M	10x
Deribit S_USDC-PERPETUAL	+0.0259%	1h	0.03935	+0.734%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03935	+0.734%	$267K	$99K	75x	as long as short
Backpack S_USDC_PERP	+0.1081%	1h	0.03940	+0.862%	$115K	$421K	5x	as long as short