Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 320.54 | +0.0050 | pay 0.0006% / 1h | 40m 31s | $179K | $9K | 10x | Long Backpack | |
| SHORT | 320.45 | 0 | 0.0000% / 8h | 6h 40m | $8.1M | $1.1M | 20x | Short Variational Omni+15% pts |
Price gap−0.028%
Funding gap−0.0050% /8h
Both sides work against this direction now: funding costs $2 a day on $10k and the gap is 0.020% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$50−0.0050% /8h now · paid −0.504% over the last 7D
Price−$2spread −0.028% now, avg −0.008% → −0.020% if it goes back
Costs−$230.231% of $10k · taker + slippage, in and out
Result−$75−0.75%+ Points / potential airdropVariational Omni: points · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.028%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hGOOGL on 43 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- OK: Fits both order books5.9 / 5.9 bpEntry at $10k a leg, taker fee + slippage. Closing costs about the same.
- Note: Margin at max leverage$1,000 + $500Backpack 10x, Variational Omni 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$1.50Long Backpack: 24 payments, −$1.50; short Variational Omni: 3 payments, $0.00.
- Watch: Gap narrower than usual−0.028% vs −0.008%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$179K vs $8.1M OIBackpack sets your exit cost. Check its book before closing.
- OK: Points on a legVariational Omni pointsVolume here counts toward the points program.
- Watch: KYCBackpack Yes · Variational Omni NoKYC (ID, face scan, residency and source of income) before any trading.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0240%/8h × 21 periods−$50.36
Price spread−0.028% → −0.008% (7d avg)−$2.01
Slippage, 4 orderslive order books−$13.05
Fee Backpack bp × 2 orders−$10.00
Fee Variational Omni bp × 2 orders$0.00
Net · 7 days · $10k−$75.42
Costs to cover0.231%Break-evennever at this rate
Slippage: Backpack: live order book, 54 min ago; Variational Omni: RFQ quote, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBackpack0.165.9 bp−$6doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTVariational Omni2.655.9 bp−$68.4 bp−$84doesn’t fitdoesn’t fit
Closing costs about the same again.
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