Funding arb · Price arb /

SAPIEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Variational Omni−0.055%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

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: Bybit is 0.055% cheaper against Variational Omni than usual: you would sell low and buy high, −$6 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	Variational Omni SAPIEN	0.07749	0.0100	pay 0.0050% / 4h	2h 54m	$9K	$3K	—
Short	Bybit SAPIENUSDT	0.07745	0.0100	get 0.0050% / 4h	2h 54m	$497K	$104K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → 0.000%: −$5.55
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$16.55
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Bybit: live order book, 6 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 no order-book sample	—	—	—	—	—
Sell Bybit live order book, 6 min ago	5.79 bp	84.6 bp −$85	doesn't fit	doesn't fit	doesn't fit

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	0.07732	−0.218%	$45K	$4K	5x	as long as short
Binance SAPIENUSDT	+0.0100%	4h	0.07732	−0.217%	$1.9M	$1.0M	25x	as long as short
Bybit SAPIENUSDTshort	+0.0100%	4h	0.07745	−0.055%	$497K	$104K	20x
OKX SAPIEN-USDT-SWAP	+0.0100%	4h	0.07739	−0.133%	$162K	$79K	10x	as long as short
Gate SAPIEN_USDT	+0.0100%	4h	0.07748	−0.017%	$859K	$66K	50x	as long as short
MEXC SAPIEN_USDT	+0.0100%	4h	0.07732	−0.223%	$9.1M	$102K	50x	as long as short
KuCoin SAPIENUSDTM	+0.0100%	4h	0.07737	−0.159%	$700K	$2.9M	30x	as long as short
Bitget SAPIENUSDT	+0.0100%	4h	0.07733	−0.210%	$592K	$263K	25x	as long as short
BingX SAPIEN-USDT	+0.0100%	4h	0.07742	−0.094%	—	$6.5M	—	as long as short
Variational Omni SAPIENlong	+0.0100%	4h	0.07749	long leg	$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	0.07730	−0.248%	$5K	$160K	5x	as long as short
BloFin SAPIEN-USDT	+0.0133%	4h	0.07741	−0.107%	$89K	$15K	25x	as long as short