Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0041%/8h= −4.4% APRpaid last 24h −0.028%

Price spread now: Injective against Variational Omni−0.756%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Injective is 0.756% cheaper against Variational Omni than usual: you would sell low and buy high (−$76 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni COST	898.78	0.0074	pay 0.0074% / 8h	5h 37m	$42K	$17K	—
Short	Injective COST/USDC PERP	891.98	0.0033	get 0.0004% / 1h	37m 16s	$2K	$28K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.756%Rate

Funding earned: −$8.53
Price spread: −0.756% → 0.000%: −$75.64
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$84.2
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Injective: no order-book sample. 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 no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Variational Omni and Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

COST on 15 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
Aster COSTUSDT	0.0000%	8h	899.07	+0.032%	$45K	$178	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	898.96	+0.020%	$491K	$218K	25x	as long as short
OKX COST-USDT-SWAP	0.0000%	8h	899.79	+0.113%	$447K	$109K	10x	as long as short
Gate COST_USDT	0.0000%	8h	899.05	+0.030%	$520K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	898.90	+0.013%	$403K	$110K	25x	as long as short
SunX COST-USDT	0.0000%	8h	898.30	−0.053%	$2K	$3.0M	10x	as long as short
HTX COST-USDT	0.0000%	8h	900.40	+0.180%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0005%	1h	898.72	−0.007%	$1.1M	$2.9M	10x	as long as short
Injective COST/USDC PERPshort	+0.0033%	1h	891.98	−0.756%	$2K	$28K	12x
Extended COST-USD	+0.0040%	1h	898.25	−0.059%	—	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest COST-USD-PERP	+0.0046%	1h	898.76	−0.002%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.65	−0.014%	$1.8M	$515K	20x	as long as short
Variational Omni COSTlong	+0.0074%	8h	898.78	long leg	$42K	$17K	—
KuCoin COSTUSDTM	+0.0100%	8h	899.10	+0.036%	$46K	$872K	20x	as long as short
Binance COSTUSDT	+0.0183%	8h	898.92	+0.015%	$1.1M	$929K	20x	as long as short