Funding arb · Price arb /

SAPIEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Bybit−0.224%7-day average — · you buy dearer than you sell

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

Long on Bybit 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.224% cheaper against Bybit than usual: you would sell low and buy high, −$22 on $10k if it 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	Bybit SAPIENUSDT	0.07820	0.0100	pay 0.0050% / 4h	55m 43s	$502K	$100K	20x
Short	Variational Omni SAPIEN	0.07802	0.0100	get 0.0050% / 4h	55m 43s	$9K	$3K	—

Funding 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 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.224%Rate

Funding earned: $0
Price spread: −0.224% → 0.000%: −$22.45
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: −$33.45
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 14 min ago; Variational Omni: no order-book sample. 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, 14 min ago	7.06 bp	68.3 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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.

SAPIEN on 12 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
Aster SAPIENUSDT	+0.0100%	4h	0.07800	−0.250%	$45K	$3K	5x	as long as short
Binance SAPIENUSDT	+0.0100%	4h	0.07812	−0.102%	$1.9M	$996K	25x	as long as short
Bybit SAPIENUSDTlong	+0.0100%	4h	0.07820	long leg	$502K	$100K	20x
OKX SAPIEN-USDT-SWAP	+0.0100%	4h	0.07806	−0.179%	$164K	$80K	10x	as long as short
Gate SAPIEN_USDT	+0.0100%	4h	0.07818	−0.026%	$869K	$64K	50x	as long as short
MEXC SAPIEN_USDT	+0.0100%	4h	0.07813	−0.090%	$9.2M	$102K	50x	as long as short
KuCoin SAPIENUSDTM	+0.0100%	4h	0.07809	−0.141%	$688K	$2.9M	30x	as long as short
Bitget SAPIENUSDT	+0.0100%	4h	0.07800	−0.256%	$600K	$231K	25x	as long as short
BingX SAPIEN-USDT	+0.0100%	4h	0.07811	−0.115%	—	$6.5M	—	as long as short
Variational Omni SAPIENshort	+0.0100%	4h	0.07802	−0.224%	$9K	$3K	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAPIEN-USD	+0.0104%	1h	0.07810	−0.122%	$527	$144K	5x	as long as short
BloFin SAPIEN-USDT	+0.0135%	4h	0.07806	−0.179%	$90K	$15K	25x	as long as short