Funding arb · Price arb /

UMA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Variational Omni−0.493%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 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: MEXC is 0.493% cheaper against Variational Omni than usual: you would sell low and buy high, −$49 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	Variational Omni UMA	0.4032	0.0100	pay 0.0050% / 4h	2h 39m	$5K	$7	—
Short	MEXC UMA_USDT	0.4012	0.0100	get 0.0050% / 4h	2h 39m	$236K	$165K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.493%Rate

Funding earned: $0
Price spread: −0.493% → 0.000%: −$49.29
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$53.29
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; MEXC: live order book, 55 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 no order-book sample	—	—	—	—	—
Sell MEXC live order book, 55 min ago	2.47 bp	17.5 bp −$17	62.0 bp −$620	118.4 bp −$11.8K	385.1 bp −$192.6K

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	+0.0068%	4h	0.4032	+0.003%	$74K	$7K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4013	−0.458%	$212K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4024	−0.206%	$24K	$769	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4010	−0.548%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4020	−0.295%	$669K	$151K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4009	−0.567%	$312K	$236K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4026	−0.146%	$77K	$43K	25x	as long as short
MEXC UMA_USDTshort	+0.0100%	4h	0.4012	−0.493%	$236K	$165K	50x
KuCoin UMAUSDTM	+0.0100%	4h	0.4023	−0.220%	$154K	$63K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4022	−0.245%	$970K	$68K	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	0.4025	−0.171%	—	$2.3M	—	as long as short
Variational Omni UMAlong	+0.0100%	4h	0.4032	long leg	$5K	$7	—
Kraken Futures PF_UMAUSD	+0.1851%	1h	0.4035	+0.080%	$14K	$6K	10x	as long as short