Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Variational Omni−0.090%7-day average −0.057% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.090%, 7d avg −0.057%

Together, before fees+0.034%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.033% cheaper against Variational Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IWM	285.36	0	get 0.0000% / 8h	0m 05s	$169K	$217K	—
Short	Bybit IWMUSDT	285.10	0	get 0.0000% / 8h	0m 05s	$556K	$62K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.090%Rate

Funding earned: $0
Price spread: −0.090% → −0.057%: −$3.28
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$14.28
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 39 min ago; Bybit: live order book, 30 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, 39 min ago	2.94 bp	doesn't fit	81.4 bp −$814	doesn't fit	doesn't fit
Sell Bybit live order book, 30 min ago	3.68 bp	42.3 bp −$42	doesn't fit	doesn't fit	doesn't fit

IWM on 17 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 IWMUSDT	0.0000%	8h	285.17	−0.067%	$2K	$221	20x	as long as short
Bybit IWMUSDTshort	0.0000%	8h	285.10	−0.090%	$556K	$62K	25x
OKX IWM-USDT-SWAP	0.0000%	8h	285.40	+0.015%	$437K	$158K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.40	+0.015%	$606K	$160K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.31	−0.016%	$441K	$15K	20x	as long as short
Variational Omni IWMlong	0.0000%	8h	285.36	long leg	$169K	$217K	—
SunX IWM-USDT	0.0000%	8h	285.25	−0.037%	$419	$465K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.67	+0.110%	$497	$38K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.34	−0.006%	$765K	$82K	10x	as long as short
Lighter IWM	+0.0032%	1h	285.64	+0.099%	$75K	$19K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	284.98	−0.132%	$566K	$358K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	284.98	−0.132%	—	$1K	25x	as long as short
BloFin IWM-USDT	+0.0070%	8h	285.39	+0.012%	$67K	$33K	20x	as long as short
MEXC IWM_USDT	+0.0081%	8h	285.26	−0.034%	$881K	$86K	50x	as long as short
Binance IWMUSDT	+0.0083%	8h	285.34	−0.006%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.46	+0.036%	$140K	$906K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0439%	8h	285.38	+0.007%	$965	$101K	10x	as long as short