Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Variational Omni−0.006%7-day average −0.093% · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.027%−$3 on $10k

Price spread, last 3 days (all we have)−0.140%−$14 · spread now −0.006%, 7d avg −0.093%

Together, before fees−0.166%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$17 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: Extended is 0.086% dearer against Variational Omni than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni STABLE	0.02471	0.0100	pay 0.0050% / 4h	1h 56m	$145K	$50K	—
Short	Extended STABLE-USD	0.02471	0.0104	get 0.0013% / 1h	56m 15s	$12K	$175K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.006%Rate

Funding earned: $0.84
Price spread: −0.006% → −0.093%: $8.61
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $4.45
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 28 min ago; Extended: live order book, 25 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, 28 min ago	8.07 bp	doesn't fit	427.9 bp −$4,279	doesn't fit	doesn't fit
Sell Extended live order book, 25 min ago	5.66 bp	38.1 bp −$38	358.9 bp −$3,589	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
Aster STABLEUSDT	−0.0332%	4h	0.02471	+0.015%	$19K	$7K	20x	as long as short
BloFin STABLE-USDT	+0.0083%	4h	0.02469	−0.077%	$114K	$7K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02485	+0.586%	$114K	$3K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02471	+0.008%	$871K	$234K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02471	−0.001%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02473	+0.093%	$1.5M	$799K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02470	−0.037%	$204K	$415K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02470	−0.037%	$171K	$86K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02472	+0.044%	$659K	$154K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02477	+0.246%	$174K	$27K	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	0.02470	−0.037%	$291K	$116K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02472	+0.044%	—	$6.5M	—	as long as short
Variational Omni STABLElong	+0.0100%	4h	0.02471	long leg	$145K	$50K	—
SunX STABLE-USDT	+0.0100%	4h	0.02474	+0.141%	$2K	$651K	20x	as long as short
Extended STABLE-USDshort	+0.0104%	1h	0.02471	−0.006%	$12K	$175K	10x