Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1536%/8h= −168.2% APRpaid last 24h −0.570%

Price spread now: Variational Omni against dYdX+0.059%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Variational Omni

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

The price spread pays, funding is against you. Variational Omni is 0.059% dearer against dYdX than usual: you sell high and buy low (spread +0.059% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$46 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ALGO-USD	0.1113	0.1471	pay 0.0184% / 1h	3m 58s	$159K	$3K	5x
Short	Variational Omni ALGO	0.1113	−0.0065	pay 0.0065% / 8h	7h 03m	$61K	$12K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. 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 dYdXbpFee Variational OmnibpOrdersPrice spread, now +0.059%Rate

Funding earned: −$322.49
Price spread: +0.059% → 0.000%: $5.89
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$326.6
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: dYdX: live order book, 5 min ago; Variational Omni: 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 dYdX live order book, 5 min ago	20.42 bp	109.0 bp −$109	140.1 bp −$1,401	162.8 bp −$16.3K	956.8 bp −$478.4K
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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.

ALGO on 22 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
Kraken Futures PF_ALGOUSD	−0.0569%	1h	0.1113	+0.049%	$827K	$1.1M	50x	as long as short
Deribit ALGO_USDC-PERPETUAL	−0.0289%	1h	0.1113	+0.019%	$101K	$49K	25x	as long as short
Coinbase International ALGO-PERP-INTX	−0.0104%	1h	0.1114	+0.091%	$87K	$273K	50x	as long as short
Variational Omni ALGOshort	−0.0065%	8h	0.1113	+0.059%	$61K	$12K	—
gTrade (Gains Network) ALGO/USD	L +0.0001% / S +0.0003%	1h	0.1114	+0.088%	$6K	—	150x	as long as short
Injective ALGO/USDC PERP	+0.0033%	1h	0.1120	+0.648%	$834	$233K	12x	as long as short
Hyperliquid ALGO	+0.0100%	1h	0.1113	+0.028%	$3.6M	$1.9M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1113	−0.026%	$44K	$38K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	0.1111	−0.119%	$10.0M	$34.6M	75x	as long as short
Bybit ALGOUSDT	+0.0100%	8h	0.1111	−0.134%	$11.3M	$12.0M	75x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1111	−0.188%	$2.9M	$7.5M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	0.1111	−0.116%	$872K	$829K	50x	as long as short
MEXC ALGO_USDT	+0.0100%	8h	0.1111	−0.125%	$22.8M	$3.0M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1113	+0.028%	$3.6M	$1.5M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1111	−0.161%	$5.5M	$3.5M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	0.1111	−0.152%	—	$3.3M	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	0.1114	+0.118%	$61K	$142K	75x	as long as short
Phemex ALGOUSDT	+0.0100%	8h	0.1115	+0.199%	$3.8M	$1.8M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	0.1112	−0.106%	$8K	$233K	10x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	0.1113	+0.055%	$494K	$764K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0341% / S −0.0313%	1h	0.1113	+0.058%	$7K	—	100x	as long as short
dYdX ALGO-USDlong	+0.1471%	1h	0.1113	long leg	$159K	$3K	5x