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 OKX−0.165%7-day average — · you buy dearer than you sell

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

Long on OKX 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 0.165% cheaper against OKX than usual: you would sell low and buy high, −$17 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	OKX UMA-USDT-SWAP	0.4058	0.0100	pay 0.0050% / 4h	29m 38s	$315K	$243K	10x
Short	Variational Omni UMA	0.4051	0.0100	get 0.0050% / 4h	29m 38s	$5K	$7	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 OKXbpFee Variational OmnibpOrdersPrice spread, now −0.165%Rate

Funding earned: $0
Price spread: −0.165% → 0.000%: −$16.53
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$26.53
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 26 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 OKX live order book, 26 min ago	4.95 bp	28.2 bp −$28	doesn't fit	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 13 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 UMA-USDT	+0.0045%	4h	0.4046	−0.296%	$75K	$8K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4056	−0.044%	$215K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4052	−0.156%	$25K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4055	−0.074%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4051	−0.172%	$671K	$153K	25x	as long as short
OKX UMA-USDT-SWAPlong	+0.0100%	4h	0.4058	long leg	$315K	$243K	10x
Gate UMA_USDT	+0.0100%	4h	0.4047	−0.271%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4055	−0.074%	$222K	$164K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4046	−0.296%	$156K	$63K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4051	−0.172%	$975K	$67K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDT	+0.0100%	4h	0.4059	+0.025%	—	$2.3M	—	as long as short
Variational Omni UMAshort	+0.0100%	4h	0.4051	−0.165%	$5K	$7	—
Kraken Futures PF_UMAUSD	+0.2339%	1h	0.4068	+0.250%	$14K	$6K	10x	as long as short