Funding arb · Price arb /

AMZN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0175%/8h= −19.2% APRpaid last 24h −0.028%

Price spread now: Lighter RH against Variational Omni+0.017%7-day average −0.037% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.018%−$2 on $10k

Price spread, last 4 days (all we have)−0.186%−$19 · spread now +0.017%, 7d avg −0.037%

Together, before fees−0.204%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.055% dearer against Variational Omni than usual: you sell high and buy low (spread +0.017% now, against its 7-day average of −0.037%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 3 days (−0.018% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AMZN	259.55	0.0207	pay 0.0207% / 8h	5h 53m	$1.8M	$1.1M	—
Short	Lighter RH AMZN	259.59	0.0032	get 0.0004% / 1h	53m 12s	$719K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$36.81
Price spread: +0.017% → −0.037%: $5.47
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$31.33
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Lighter RH: live order book, 4 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, 1 min ago	2.43 bp	doesn't fit	11.1 bp −$111	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	1.54 bp	1.8 bp −$2	6.2 bp −$62	doesn't fit	doesn't fit

AMZN on 29 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 AMZN_USDC-PERPETUAL	−0.0213%	1h	259.31	−0.091%	$28K	$174K	10x	as long as short
Aster AMZNUSDT	0.0000%	8h	259.43	−0.046%	$203K	$211K	20x	as long as short
Gate AMZN_USDT	0.0000%	8h	259.33	−0.083%	$761K	$2.7M	100x	as long as short
GRVT AMZN_USDT_Perp	0.0000%	8h	259.47	−0.028%	$10K	$1.8M	10x	as long as short
Bitget AMZNUSDT	+0.0031%	8h	259.54	−0.002%	$4.8M	$3.8M	100x	as long as short
Lighter RH AMZNshort	+0.0032%	1h	259.59	+0.017%	$719K	$1.5M	10x
Hotstuff AMZN-PERP	+0.0032%	1h	259.44	−0.040%	$33K	—	20x	as long as short
QFEX AMZN-USD	+0.0033%	1h	259.48	−0.025%	$1.4M	$4.1M	10x	as long as short
Coinbase International AMZN-PERP-INTX	+0.0040%	1h	259.35	−0.075%	$936K	$2.4M	10x	as long as short
Arcus AMZN-USD	+0.0040%	1h	259.41	−0.052%	$197K	$240K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest AMZN-USD-PERP	+0.0046%	1h	259.44	−0.040%	—	$104K	25x	as long as short
tradeXYZ xyz:AMZN	+0.0050%	1h	259.46	−0.033%	$29.8M	$11.3M	20x	as long as short
Polymarket Perps AMZN-USD	+0.0050%	1h	259.37	−0.067%	$317K	$287K	10x	as long as short
SoDEX AMZN-USD	+0.0050%	1h	259.50	−0.017%	$635	$5K	10x	as long as short
Ondo Perps AMZN-USD.P	+0.0050%	1h	259.33	−0.083%	$1.3M	$1.2M	10x	as long as short
Nado AMZN-PERP	+0.0082%	1h	259.45	−0.035%	$414K	$118K	20x	as long as short
OKX AMZN-USDT-SWAP	+0.0083%	8h	259.53	−0.006%	$2.9M	$4.5M	20x	as long as short
Lighter AMZN	+0.0088%	1h	259.56	+0.007%	$824K	$1.1M	20x	as long as short
KuCoin AMZNUSDTM	+0.0100%	8h	259.44	−0.040%	$1.5M	$573K	20x	as long as short
ApeX Omni AMZNUSDT	+0.0100%	1h	259.36	−0.071%	$93K	$130K	50x	as long as short
Orderly PERP_AMZN_USDC_mythos	+0.0100%	8h	259.52	−0.010%	$1K	$320	10x	as long as short
Aevo AMZN-PERP	+0.0104%	1h	259.43	−0.046%	$14K	$510	10x	as long as short
Variational Omni AMZNlong	+0.0207%	8h	259.55	long leg	$1.8M	$1.1M	—
Extended AMZN_24_5-USD	+0.0208%	1h	259.48	−0.026%	$498K	$2.7M	10x	as long as short
Binance AMZNUSDT	+0.0210%	8h	259.54	−0.002%	$16.1M	$29.8M	20x	as long as short
Bybit AMZNUSDT	+0.0218%	8h	259.61	+0.025%	$3.8M	$3.2M	100x	as long as short
Injective AMZN/USDC PERP	+0.0220%	1h	259.31	−0.091%	$75K	$27K	30x	as long as short
Phoenix AMZN	+0.0247%	1h	259.50	−0.017%	$5K	$77K	20x	as long as short
edgeX AMZNUSDC	+0.0288%	4h	259.49	−0.022%	$28K	$248K	10x	as long as short