Funding arb · Price arb /

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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: Variational Omni against Bybit−0.115%7-day average −0.011% · 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)+0.154%+$15 on $10k

Price spread, last 3 days (all we have)+0.133%+$13 · spread now −0.115%, 7d avg −0.011%

Together, before fees+0.287%+ Points / potential airdropVariational Omni: Active · farm board+$29 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.104% cheaper against Bybit than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit STABLEUSDT	0.02518	0.0100	pay 0.0050% / 4h	3h 44m	$1.5M	$789K	25x
Short	Variational Omni STABLE	0.02515	0.0100	get 0.0050% / 4h	3h 44m	$147K	$50K	—

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

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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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.115%Rate

Funding earned: $0
Price spread: −0.115% → −0.011%: −$10.36
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: −$21.36
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Variational Omni: RFQ quote, 30 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 Bybit live order book, 2 min ago	5.96 bp	36.0 bp −$36	400.0 bp −$4,000	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 30 min ago	7.92 bp	doesn't fit	237.6 bp −$2,376	doesn't fit	doesn't fit

STABLE on 15 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
Lighter STABLE	+0.0096%	1h	0.02527	+0.342%	$116K	$8K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02516	−0.079%	$887K	$221K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02515	−0.101%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02516	−0.088%	$2.5M	$2.9M	75x	as long as short
Bybit STABLEUSDTlong	+0.0100%	4h	0.02518	long leg	$1.5M	$789K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02515	−0.119%	$206K	$445K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02515	−0.119%	$175K	$71K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02515	−0.119%	$625K	$168K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02521	+0.119%	$181K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02514	−0.159%	$294K	$118K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02515	−0.119%	—	$6.6M	—	as long as short
Variational Omni STABLEshort	+0.0100%	4h	0.02515	−0.115%	$147K	$50K	—
SunX STABLE-USDT	+0.0100%	4h	0.02514	−0.147%	$2K	$765K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02515	−0.125%	$12K	$177K	10x	as long as short
BloFin STABLE-USDT	+0.0145%	4h	0.02518	0.000%	$115K	$8K	75x	as long as short