Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,261.4 | +0.0499 | pay 0.0062% / 1h | 59m 19s | $227K | $257K | 10x | Long Backpack | |
| SHORT | 1,259.4 | +0.0101 | get 0.0101% / 8h | 59m 19s | $5.5M | $5.6M | 20x | Short Variational Omni+15% pts |
Price gap−0.153%
Funding gap−0.0398% /8h
Both sides work against this direction now: funding costs $12 a day on $10k and the gap is 0.137% 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−$41−0.0398% /8h now · paid −0.410% over the last 7D
Price−$14spread −0.153% now, avg −0.016% → −0.137% if it goes back
Costs−$210.209% of $10k · taker + slippage, in and out
Result−$76−0.76%+ 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−0.153%
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
/8hSNDK on 45 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- OK: Fits both order books6.7 / 3.3 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: −$11.93Long Backpack: 24 payments, −$14.97; short Variational Omni: 3 payments, +$3.04.
- Watch: Gap narrower than usual−0.153% vs −0.016%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$227K vs $5.5M 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−0.0195%/8h × 21 periods−$41.04
Price spread−0.153% → −0.016% (7d avg)−$13.68
Slippage, 4 orderslive order books−$10.88
Fee Backpack bp × 2 orders−$10.00
Fee Variational Omni bp × 2 orders$0.00
Net · 7 days · $10k−$75.60
Costs to cover0.209%Break-evennever at this rate
Slippage: Backpack: live order book, 44 min ago; Variational Omni: RFQ quote, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGBackpack0.086.7 bp−$79.3 bp−$93doesn’t fitdoesn’t fit
SELL · SHORTVariational Omni2.433.3 bp−$34.3 bp−$43doesn’t fitdoesn’t fit
Closing costs about the same again.
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