Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.4864%/8h= +532.6% APRpaid last 24h +2.000%

Price spread now: Variational Omni against 01 Exchange+1.816%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Variational Omni

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 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$146 a day on $10k at the current rate, and Variational Omni is 1.816% dearer against 01 Exchange than usual: you sell high and buy low: +$182 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	01 Exchange SUSD	0.03850	−0.5912	get 0.0739% / 1h	10m 33s	$23K	$2K	5x
Short	Variational Omni S	0.03920	−0.1048	pay 0.0524% / 4h	10m 33s	$611K	$31K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against 01 Exchange. 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 01 ExchangebpFee Variational OmnibpOrdersPrice spread, now +1.816%Rate

Funding earned: $1,021.35
Price spread: +1.816% → 0.000%: $181.64
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $1,195.99
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: 01 Exchange: no order-book sample; Variational Omni: RFQ quote, 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	5.10 bp	doesn't fit	66.3 bp −$663	doesn't fit	doesn't fit

01 Exchange: 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 SUSDlong	−0.5912%	1h	0.03850	long leg	$23K	$2K	5x
Kraken Futures PF_SUSD	−0.2122%	1h	0.03929	+2.061%	$33K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−0.623%	$47K	$5K	25x	as long as short
Variational Omni Sshort	−0.1048%	4h	0.03920	+1.816%	$611K	$31K	—
GMX S/USD [WBTC.b-USDC]	L −0.0204% / S +0.0196%	1h	0.03931	+2.099%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03925	+1.959%	$4	—	15x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03932	+2.130%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03932	+2.134%	$606	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.03928	+2.026%	$100K	$339K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+6.494%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03939	+2.312%	$165K	$217K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03931	+2.096%	$985K	$678K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03934	+2.195%	$43K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03935	+2.195%	$5.4M	$16.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03929	+2.052%	$5.6M	$5.2M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03935	+2.208%	$981K	$4.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03928	+2.026%	$320K	$259K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03936	+2.234%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03931	+2.104%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03935	+2.208%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03932	+2.130%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03930	+2.078%	$114K	$314K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	+2.078%	$25K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03935	+2.201%	$221K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03928	+2.026%	$265K	$125K	75x	as long as short