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: OKX against Variational Omni−0.144%7-day average +0.029% · you buy dearer than you sell

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

Long on Variational Omni Short on OKX

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 4 days (all we have)−0.130%−$13 · spread now −0.144%, 7d avg +0.029%

Together, before fees−0.081%+ Points / potential airdropVariational Omni: Active · farm board−$8 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: OKX is 0.173% cheaper against Variational Omni than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VIRTUAL	0.7175	0.0100	pay 0.0050% / 4h	54m 39s	$534K	$909K	—
Short	OKX VIRTUAL-USDT-SWAP	0.7165	0.0100	get 0.0050% / 4h	54m 39s	$2.8M	$9.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.144%Rate

Funding earned: $0
Price spread: −0.144% → +0.029%: −$17.28
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$27.28
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; OKX: live order book, 3 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, 4 min ago	4.20 bp	doesn't fit	23.8 bp −$238	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.70 bp	15.9 bp −$16	44.1 bp −$441	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	0.7167	−0.115%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0112%	1h	0.7163	−0.166%	$326K	$413K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7164	−0.158%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0029%	1h	0.7169	−0.088%	$15K	$40K	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7167	−0.116%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7172	−0.050%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.813%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7171	−0.060%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7171	−0.060%	$97K	$292K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7168	−0.095%	$71K	$43K	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	0.7165	−0.144%	$16.3M	$40.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7165	−0.144%	$16.6M	$18.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAPshort	+0.0100%	4h	0.7165	−0.144%	$2.8M	$9.8M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7172	−0.046%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7165	−0.144%	$17.8M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7170	−0.074%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7171	−0.060%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7168	−0.102%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7173	−0.032%	$238K	$205K	10x	as long as short
Variational Omni VIRTUALlong	+0.0100%	4h	0.7175	long leg	$534K	$909K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7135	−0.562%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7164	−0.153%	$639K	$867K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7138	−0.520%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7174	−0.023%	$51K	$984K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7164	−0.158%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7167	−0.112%	$1K	$9K	5x	as long as short
Hyperliquid VIRTUAL	+0.0104%	1h	0.7178	+0.040%	$8.8M	$4.1M	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7164	−0.153%	$54K	$265K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7171	−0.055%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7170	−0.070%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7164	−0.158%	$812K	$895K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7179	+0.051%	$207K	$98K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0799%	1h	0.7176	+0.008%	$597K	$663K	50x	as long as short