Funding arb · Price arb /

VIRTUAL

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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 −0.018%

Price spread now: Variational Omni against OKX+0.177%7-day average −0.030% · you sell dearer than you buy

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)−0.049%−$5 on $10k

Price spread, last 3 days (all we have)−0.157%−$16 · spread now +0.177%, 7d avg −0.030%

Together, before fees−0.206%+ Points / potential airdropVariational Omni: Active · farm board−$21 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 0.207% dearer against OKX than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX VIRTUAL-USDT-SWAP	0.7289	0.0100	pay 0.0050% / 4h	3h 44m	$2.9M	$9.6M	20x
Short	Variational Omni VIRTUAL	0.7302	0.0100	get 0.0050% / 4h	3h 44m	$546K	$888K	—

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 +0.177%Rate

Funding earned: $0
Price spread: +0.177% → −0.030%: $20.69
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $10.69
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 4 min ago; Variational Omni: RFQ quote, 30 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 OKX live order book, 4 min ago	1.37 bp	11.5 bp −$11	37.4 bp −$374	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 30 min ago	3.43 bp	doesn't fit	18.5 bp −$185	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0161%	1h	0.7296	+0.096%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7286	−0.046%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7302	+0.181%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7288	−0.014%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7293	+0.057%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0032%	1h	0.7295	+0.077%	$331K	$416K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.360%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7298	+0.123%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7298	+0.128%	$199K	$154K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7300	+0.144%	$72K	$45K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7289	+0.006%	$16.8M	$39.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7291	+0.027%	$16.3M	$17.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAPlong	+0.0100%	4h	0.7289	long leg	$2.9M	$9.6M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7304	+0.206%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7297	+0.110%	$18.4M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7296	+0.096%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7298	+0.123%	$6.3M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7291	+0.027%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7308	+0.261%	$248K	$167K	10x	as long as short
Variational Omni VIRTUALshort	+0.0100%	4h	0.7302	+0.177%	$546K	$888K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7314	+0.349%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7322	+0.457%	$650K	$927K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7311	+0.302%	$40K	$243K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7295	+0.078%	$45K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7295	+0.082%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7294	+0.069%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7295	+0.078%	$58K	$249K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7296	+0.095%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0113%	1h	0.7300	+0.150%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7291	+0.021%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7295	+0.082%	$825K	$847K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7366	+1.056%	$200K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0740%	1h	0.7311	+0.305%	$603K	$635K	50x	as long as short