Funding arb · Price arb /

STABLE

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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−0.927%7-day average +0.013% · 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)−0.154%−$15 on $10k

Price spread, last 4 days (all we have)+1.111%+$111 · spread now −0.927%, 7d avg +0.013%

Together, before fees+0.957%+ Points / potential airdropVariational Omni: Active · farm board+$96 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: Bybit is 0.940% cheaper against Variational Omni than usual: you would sell low and buy high, −$94 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni STABLE	0.02482	0.0100	pay 0.0050% / 4h	57m 04s	$145K	$50K	—
Short	Bybit STABLEUSDT	0.02459	0.0100	get 0.0050% / 4h	57m 04s	$1.5M	$765K	25x

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

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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 BybitbpOrdersPrice spread, now −0.927%Rate

Funding earned: $0
Price spread: −0.927% → +0.013%: −$94.01
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: −$105.01
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bybit: live order book, 4 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 RFQ quote, 2 min ago	12.11 bp	doesn't fit	274.4 bp −$2,744	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	4.02 bp	39.7 bp −$40	182.8 bp −$1,828	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
BloFin STABLE-USDT	+0.0058%	4h	0.02453	−1.169%	$118K	$7K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02472	−0.400%	$114K	$6K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02457	−0.992%	$863K	$187K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02460	−0.895%	$18K	$8K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02457	−1.008%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDTshort	+0.0100%	4h	0.02459	−0.927%	$1.5M	$765K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02456	−1.048%	$195K	$371K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02457	−1.008%	$172K	$57K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02454	−1.129%	$599K	$159K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02466	−0.645%	$182K	$28K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02457	−1.008%	$282K	$91K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02457	−1.008%	—	$6.5M	—	as long as short
Variational Omni STABLElong	+0.0100%	4h	0.02482	long leg	$145K	$50K	—
SunX STABLE-USDT	+0.0100%	4h	0.02454	−1.149%	$2K	$846K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02454	−1.113%	$14K	$136K	10x	as long as short