Funding arb · Price arb /

SUN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.112%

Price spread now: Variational Omni against Injective−7.240%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Variational Omni

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 pays, the price is against you. Variational Omni is 7.240% cheaper against Injective than usual: you would sell low and buy high (spread −7.240% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$724 on $10k: about 12 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SUN/USDC PERP	0.01861	0.0033	pay 0.0004% / 1h	1m 00s	—	$16	5.5x
Short	Variational Omni SUN	0.01726	0.0100	get 0.0050% / 4h	1h 01m	$143K	$70	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Injective. 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 InjectivebpFee Variational OmnibpOrdersPrice spread, now −7.240%Rate

Funding earned: $14
Price spread: −7.240% → 0.000%: −$723.98
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$710
Costs to cover: 0.000%
Break-even: 362.0 days

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 18 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 Injective no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 18 min ago	8.69 bp	doesn't fit	628.4 bp −$6,284	doesn't fit	doesn't fit

Injective: 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.

SUN 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
Injective SUN/USDC PERPlong	+0.0033%	1h	0.01861	long leg	—	$16	5.5x
Binance SUNUSDT	+0.0100%	4h	0.01731	−6.980%	$2.0M	$1.3M	50x	as long as short
Bybit SUNUSDT	+0.0100%	4h	0.01730	−7.050%	$1.5M	$289K	50x	as long as short
Gate SUN_USDT	+0.0100%	8h	0.01731	−6.969%	$131K	$58K	50x	as long as short
MEXC SUN_USDT	+0.0100%	4h	0.01731	−6.980%	$11.7M	$277K	125x	as long as short
KuCoin SUNUSDTM	+0.0100%	4h	0.01731	−7.012%	$315K	$56K	20x	as long as short
Bitget SUNUSDT	+0.0100%	4h	0.01730	−7.039%	$461K	$136K	50x	as long as short
BingX SUN-USDT	+0.0100%	4h	0.01731	−7.007%	—	$2.3M	—	as long as short
Variational Omni SUNshort	+0.0100%	4h	0.01726	−7.240%	$143K	$70	—
SunX SUN-USDT	+0.0100%	4h	0.01731	−6.964%	$26K	$929K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SUN-USDT	+0.0100%	4h	0.01731	−6.975%	$317K	$30K	50x	as long as short
BloFin SUN-USDT	+0.0116%	4h	0.01731	−6.969%	$130K	$39K	50x	as long as short