Funding arb · Price arb /

SAPIEN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: KuCoin against Variational Omni−0.208%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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 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: KuCoin is 0.208% cheaper against Variational Omni than usual: you would sell low and buy high, −$21 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	0.07876	0.0100	pay 0.0050% / 4h	51m 34s	$9K	$4K	—
Short	KuCoin SAPIENUSDTM	0.07860	0.0100	get 0.0050% / 4h	51m 34s	$701K	$2.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.208%Rate

Funding earned: $0
Price spread: −0.208% → 0.000%: −$20.84
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$32.84
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; KuCoin: 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 no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 3 min ago	13.33 bp	75.3 bp −$75	432.8 bp −$4,328	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 exchanges

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	0.07859	−0.221%	$45K	$4K	5x	as long as short
Binance SAPIENUSDT	+0.0100%	4h	0.07860	−0.211%	$2.0M	$987K	25x	as long as short
Bybit SAPIENUSDT	+0.0100%	4h	0.07862	−0.183%	$502K	$89K	20x	as long as short
OKX SAPIEN-USDT-SWAP	+0.0100%	4h	0.07863	−0.170%	$167K	$76K	10x	as long as short
Gate SAPIEN_USDT	+0.0100%	4h	0.07868	−0.107%	$866K	$54K	50x	as long as short
MEXC SAPIEN_USDT	+0.0100%	4h	0.07858	−0.234%	$9.3M	$105K	50x	as long as short
KuCoin SAPIENUSDTMshort	+0.0100%	4h	0.07860	−0.208%	$701K	$2.7M	30x
Bitget SAPIENUSDT	+0.0100%	4h	0.07859	−0.221%	$599K	$295K	25x	as long as short
BingX SAPIEN-USDT	+0.0100%	4h	0.07865	−0.145%	—	$6.5M	—	as long as short
Variational Omni SAPIENlong	+0.0100%	4h	0.07876	long leg	$9K	$4K	—

Show all 12 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAPIEN-USD	+0.0104%	1h	0.07857	−0.245%	$4K	$221K	5x	as long as short
BloFin SAPIEN-USDT	+0.0111%	4h	0.07864	−0.158%	$89K	$16K	25x	as long as short