Funding arb · Price arb /

DELL

RWAall DELL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0626%/8h= +68.5% APRpaid last 24h +0.121%

Price spread now: Phoenix against Variational Omni−0.068%84s7-day average +0.030% · you buy dearer than you sell

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

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.227%+$23 on $10k

Price spread, last 3 days (all we have)−0.104%−$10 · spread now −0.068%, 7d avg +0.030%

Together, before fees+0.123%+ Points / potential airdropVariational Omni: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.098% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of +0.030%). If the spread goes back, that is −$10 on $10k: about 12 hours of funding at the current rate (+$19 a day). At the pace of the last 3 days (+0.227% in total) that is about 33 hours. The two prices were read 84 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 DELL	575.94	0	get 0.0000% / 8h	2h 26m	$261K	$82K	—
Short	Phoenix DELL	575.55	0.0626	get 0.0078% / 1h	26m 09s	$3K	$280K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.068%Rate

Funding earned: $131.42
Price spread: −0.068% → +0.030%: −$9.76
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $114.66
Costs to cover: 0.070%
Break-even: 0.9 days

Slippage unknown: Variational Omni: RFQ quote, 62 min ago; Phoenix: live order book, 59 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, 62 min ago	2.50 bp	doesn't fit	46.6 bp −$466	doesn't fit	doesn't fit
Sell Phoenix live order book, 59 min ago	2.95 bp	10.1 bp −$10	20.7 bp −$207	doesn't fit	doesn't fit

DELL on 20 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 DELLUSDT	0.0000%	8h	575.61	−0.058%	$21K	$50K	20x	as long as short
Extended DELL-USD	0.0000%	1h	575.76	−0.031%	$338K	$1.1M	10x	as long as short
Binance DELLUSDT	0.0000%	8h	575.78	−0.027%	$18.8M	$65.6M	20x	as long as short
Gate DELL_USDT	0.0000%	8h	575.70	−0.042%	$4.5M	$7.7M	50x	as long as short
Variational Omni DELLlong	0.0000%	8h	575.94	long leg	$261K	$82K	—
GRVT DELL_USDT_Perp	0.0000%	8h	575.85	−0.016%	$731	$183K	10x	as long as short
Bitget DELLUSDT	+0.0007%	8h	575.40	−0.094%	$3.3M	$4.7M	20x	as long as short
BloFin DELL-USDT	+0.0018%	8h	575.98	+0.007%	$320K	$219K	20x	as long as short
Lighter DELL	+0.0032%	1h	576.12	+0.031%	$34K	$12K	10x	as long as short
Injective DELL/USDC PERP	+0.0033%	1h	571.67	−0.741%	$8K	$83K	12x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:DELL	+0.0077%	1h	574.83	−0.193%	$7.3M	$7.2M	10x	as long as short
KuCoin DELLUSDTM	+0.0100%	8h	575.30	−0.111%	$942K	$32K	20x	as long as short
Orderly PERP_DELL_USDC_mythos	+0.0100%	8h	576.28	+0.059%	$3K	$336	10x	as long as short
HTX DELL-USDT	+0.0100%	8h	575.98	+0.007%	$18K	$58K	10x	as long as short
Bybit DELLUSDT	+0.0123%	8h	575.60	−0.059%	$5.9M	$3.6M	50x	as long as short
OKX DELL-USDT-SWAP	+0.0280%	8h	575.43	−0.088%	$5.9M	$6.8M	20x	as long as short
Polymarket Perps DELL-USD	+0.0407%	1h	575.41	−0.092%	$753	$23K	10x	as long as short
Phoenix DELLshort	+0.0626%	1h	575.55	−0.068%	$3K	$280K	10x
edgeX DELLUSDC	+0.0778%	4h	575.93	−0.002%	$5K	$335K	10x	as long as short
Nado DELL-PERP	+0.0791%	1h	574.76	−0.204%	$70K	$13K	10x	as long as short