Funding arb · Price arb /

UMA

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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 Bitget+0.056%7-day average — · you sell dearer than you buy

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

Long on Bitget 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.056% dearer against Bitget than usual: you sell high and buy low, +$6 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	Bitget UMAUSDT	0.4022	0.0100	pay 0.0050% / 4h	2h 11m	$969K	$71K	50x
Short	Variational Omni UMA	0.4024	0.0100	get 0.0050% / 4h	2h 11m	$5K	$7	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bitget. 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 BitgetbpFee Variational OmnibpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → 0.000%: $5.61
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$6.39
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 55 min ago; Variational Omni: no order-book sample. 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 Bitget live order book, 55 min ago	9.89 bp	36.4 bp −$36	204.8 bp −$2,048	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

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.

UMA 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
Hyperliquid UMA	+0.0100%	1h	0.4026	+0.094%	$213K	$68K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4023	+0.013%	$24K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4022	−0.002%	$1.5M	$1.3M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4022	0.000%	$667K	$163K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4020	−0.050%	$313K	$241K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4024	+0.050%	$78K	$46K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4020	−0.050%	$223K	$171K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4020	−0.050%	$163K	$62K	30x	as long as short
Bitget UMAUSDTlong	+0.0100%	4h	0.4022	long leg	$969K	$71K	50x
BingX UMA-USDT	+0.0100%	4h	0.4021	−0.025%	—	$2.3M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni UMAshort	+0.0100%	4h	0.4024	+0.056%	$5K	$7	—
Kraken Futures PF_UMAUSD	+0.2499%	1h	0.4027	+0.122%	$14K	$6K	10x	as long as short