Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0296%/8h= −32.4% APRpaid last 24h −0.023%

Price spread now: Variational Omni against StandX+0.400%7-day average +0.013% · you sell dearer than you buy

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

Long on StandX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 7 days−0.412%−$41 · spread now +0.400%, 7d avg +0.013%

Together, before fees−0.434%+ Points / potential airdropStandX: Active · Variational Omni: Active · farm board−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.387% dearer against StandX than usual: you sell high and buy low (spread +0.400% now, against its 7-day average of +0.013%): +$39 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 4.4 days. At the pace of the last 3 days (−0.022% in total) that is about 60 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.022% in total (about -2.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX CL-USD	92.340	0.0040	pay 0.0005% / 1h	25m 21s	$726K	$3.0M	40x
Short	Variational Omni CL	92.710	−0.0256	pay 0.0128% / 4h	2h 25m	$13.3M	$11.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against StandX. 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 StandXbpFee Variational OmnibpOrdersPrice spread, now +0.400%Rate

Funding earned: −$62.17
Price spread: +0.400% → +0.013%: $38.71
Slippage, 4 orders: no order book: not counted
Fee StandX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$31.46
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: StandX: live order book, 4 min ago; Variational Omni: RFQ quote, 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 StandX live order book, 4 min ago	2.71 bp	50.0 bp −$50	52.7 bp −$527	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.26 bp	doesn't fit	3.1 bp −$31	7.1 bp −$707	doesn't fit

CL on 35 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 WTIOIL_USDC-PERPETUAL	−0.0612%	1h	92.700	+0.390%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0311%	4h	92.773	+0.469%	$23.9M	$73.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	92.746	+0.440%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0260%	4h	92.740	+0.433%	$244.1M	$982.1M	100x	as long as short
Variational Omni CLshort	−0.0256%	4h	92.710	+0.400%	$13.3M	$11.1M	—
Gate CL_USDT	−0.0126%	8h	92.690	+0.379%	$20.8M	$53.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0057%	1h	92.756	+0.451%	$184.3M	$223.0M	20x	as long as short
Nado WTI-PERP	−0.0053%	1h	92.800	+0.499%	$965K	$678K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	+0.444%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0043%	1h	92.690	+0.379%	$3.5M	$5.7M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.786	+0.483%	$271K	$874K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.730	+0.422%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0016%	4h	92.740	+0.433%	$42.7M	$105.5M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.757	+0.452%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.760	+0.455%	$26.9M	$82.7M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.729	+0.421%	$41.9M	$44.2M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.770	+0.466%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.749	+0.443%	$17K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.296	−0.048%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0026%	8h	92.740	+0.434%	$16K	$367	5x	as long as short
Aftermath Perps WTIUSD	+0.0029%	1h	92.787	+0.484%	$2K	$27K	5x	as long as short
Lighter WTI	+0.0032%	1h	92.753	+0.447%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.780	+0.476%	$2.1M	$24.7M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.868	+0.572%	$3.3M	$2.7M	20x	as long as short
edgeX CLUSDC	+0.0038%	4h	92.754	+0.448%	$533K	$297K	30x	as long as short
StandX CL-USDlong	+0.0040%	1h	92.340	long leg	$726K	$3.0M	40x
Vest CL-PERP	+0.0046%	1h	92.770	+0.466%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.756	+0.451%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.738	+0.431%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0074%	4h	92.759	+0.454%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.753	+0.447%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.770	+0.466%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.705	+0.395%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.745	+0.439%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+10.280%	$19K	$11K	30x	as long as short