Funding arb · Price arb /

VIRTUAL

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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 −0.020%

Price spread now: Variational Omni against Extended−0.128%7-day average +0.023% · you buy dearer than you sell

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.054%−$5 on $10k

Price spread, last 3 days (all we have)+0.392%+$39 · spread now −0.128%, 7d avg +0.023%

Together, before fees+0.338%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$34 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: Variational Omni is 0.151% cheaper against Extended than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7162	0.0104	pay 0.0013% / 1h	57m 25s	$53K	$246K	10x
Short	Variational Omni VIRTUAL	0.7153	0.0100	get 0.0050% / 4h	1h 57m	$525K	$878K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now −0.128%Rate

Funding earned: −$0.84
Price spread: −0.128% → +0.023%: −$15.14
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$20.98
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 25 min ago; Variational Omni: RFQ quote, 27 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 Extended live order book, 25 min ago	1.81 bp	15.0 bp −$15	120.6 bp −$1,206	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 27 min ago	4.18 bp	doesn't fit	20.9 bp −$209	doesn't fit	doesn't fit

VIRTUAL on 33 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
Lighter VIRTUAL	−0.0200%	1h	0.7165	+0.035%	$326K	$414K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0169%	1h	0.7154	−0.118%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7168	+0.075%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7163	+0.008%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7158	−0.065%	$11K	$39K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7172	+0.133%	$12K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.634%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7153	−0.132%	$14K	$1.5M	10x	as long as short
SoDEX VIRTUAL-USD	+0.0098%	1h	0.7153	−0.134%	$1K	$9K	5x	as long as short
Variational Omni VIRTUALshort	+0.0100%	4h	0.7153	−0.128%	$525K	$878K	—

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7175	+0.169%	$8.7M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7169	+0.098%	$194K	$83K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7169	+0.098%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7165	+0.038%	$16.4M	$37.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7162	−0.006%	$15.4M	$15.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7165	+0.036%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7169	+0.092%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7165	+0.036%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7166	+0.050%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7170	+0.106%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7166	+0.050%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7160	−0.034%	$235K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7160	−0.040%	$19K	$255K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7157	−0.076%	$634K	$965K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7161	−0.020%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7171	+0.127%	$29K	$815K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7154	−0.118%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7162	long leg	$53K	$246K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7155	−0.105%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7172	+0.128%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7168	+0.078%	$815K	$792K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7176	+0.190%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0512%	1h	0.7161	−0.016%	$536K	$544K	50x	as long as short