Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.018%

Price spread now: ApeX Omni against Variational Omni+0.278%73s7-day average +0.061% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.247%−$25 · spread now +0.278%, 7d avg +0.061%

Together, before fees−0.213%+ 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: ApeX Omni is 0.217% dearer against Variational Omni than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of +0.061%. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VIRTUAL	0.7108	0.0100	pay 0.0050% / 4h	2h 44m	$532K	$909K	—
Short	ApeX Omni VIRTUALUSDT	0.7128	0.0100	get 0.0013% / 1h	44m 06s	$40K	$238K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.278%Rate

Funding earned: $0
Price spread: +0.278% → +0.061%: $21.65
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $11.65
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; ApeX Omni: live order book, 2 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 RFQ quote, 5 min ago	4.21 bp	doesn't fit	22.4 bp −$224	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 2 min ago	6.32 bp	14.7 bp −$15	92.9 bp −$929	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7114	+0.075%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7112	+0.053%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7126	+0.245%	$11K	$36K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0031%	1h	0.7116	+0.109%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0024%	1h	0.7109	+0.009%	$323K	$402K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7117	+0.126%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.123%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0077%	4h	0.7114	+0.081%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7123	+0.213%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7119	+0.145%	$93K	$299K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7118	+0.142%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7113	+0.068%	$16.1M	$41.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7108	−0.004%	$16.4M	$18.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7112	+0.053%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7114	+0.081%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7115	+0.095%	$15.7M	$4.8M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7116	+0.109%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7112	+0.053%	$6.1M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7112	+0.053%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7116	+0.109%	$238K	$210K	10x	as long as short
Variational Omni VIRTUALlong	+0.0100%	4h	0.7108	long leg	$532K	$909K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7122	+0.194%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7121	+0.175%	$629K	$987K	10x	as long as short
ApeX Omni VIRTUALUSDTshort	+0.0100%	1h	0.7128	+0.278%	$40K	$238K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7117	+0.119%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7118	+0.137%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7112	+0.057%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7113	+0.065%	$57K	$302K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7113	+0.060%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0280%	1h	0.7124	+0.223%	$581K	$676K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0317% / S −0.0269%	1h	0.7115	+0.101%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7112	+0.053%	$789K	$980K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+0.756%	$199K	$104K	50x	as long as short