Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0037%/8h= −4.0% APRpaid last 24h −0.039%

Price spread now: Deribit against Variational Omni−0.401%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.401% cheaper against Variational Omni than usual: you would sell low and buy high (−$40 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ARB	0.2234	−0.0162	get 0.0162% / 8h	2h 11m	$1.9M	$2.8M	—
Short	Deribit ARB_USDC-PERPETUAL	0.2225	−0.0199	pay 0.0025% / 1h	11m 56s	$38K	$20K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.401%Rate

Funding earned: −$7.69
Price spread: −0.401% → 0.000%: −$40.07
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$54.76
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Deribit: 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 Variational Omni RFQ quote, 2 min ago	4.49 bp	doesn't fit	26.9 bp −$269	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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.

ARB on 36 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
Injective ARB/USDC PERP	−0.1675%	1h	0.2216	−0.786%	$40K	$197K	12x	as long as short
01 Exchange ARBUSD	−0.0272%	1h	0.2222	−0.499%	$7K	$2K	10x	as long as short
Deribit ARB_USDC-PERPETUALshort	−0.0199%	1h	0.2225	−0.401%	$38K	$20K	25x
Variational Omni ARBlong	−0.0162%	8h	0.2234	long leg	$1.9M	$2.8M	—
Bybit ARBUSDT	−0.0147%	8h	0.2223	−0.454%	$55.9M	$135.8M	50x	as long as short
SoDEX ARB-USD	−0.0114%	1h	0.2223	−0.463%	$4K	$2.9M	5x	as long as short
OKX ARB-USDT-SWAP	−0.0106%	8h	0.2223	−0.463%	$22.1M	$163.7M	50x	as long as short
MEXC ARB_USDT	−0.0105%	8h	0.2223	−0.486%	$36.9M	$63.8M	200x	as long as short
Polymarket Perps ARB-USD	−0.0054%	1h	0.2223	−0.472%	$77K	$2.2M	10x	as long as short
Kraken Futures PF_ARBUSD	−0.0053%	1h	0.2225	−0.375%	$1.1M	$5.3M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ARB_USDC	−0.0020%	8h	0.2223	−0.472%	$11K	$388K	10x	as long as short
Binance ARBUSDT	−0.0017%	8h	0.2224	−0.441%	$63.3M	$324.5M	75x	as long as short
Extended ARB-USD	−0.0016%	1h	0.2223	−0.468%	$355K	$2.4M	25x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2225	−0.391%	$66K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2225	−0.387%	$56K	—	150x	as long as short
Gate ARB_USDT	+0.0009%	8h	0.2224	−0.445%	$5.5M	$21.6M	60x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2224	−0.427%	$145K	$12K	3x	as long as short
Bitget ARBUSDT	+0.0088%	8h	0.2224	−0.428%	$20.8M	$38.3M	50x	as long as short
BingX ARB-USDT	+0.0089%	8h	0.2223	−0.463%	—	$54.0M	—	as long as short
Lighter ARB	+0.0096%	1h	0.2225	−0.392%	$1.3M	$7.8M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2225	−0.360%	$39.7M	$53.0M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2225	−0.378%	$690K	$1.8M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2225	−0.398%	$47K	$199K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2224	−0.414%	$20.4M	$16.9M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2230	−0.162%	$39K	$458K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2241	+0.334%	$483K	$4.1M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2231	−0.114%	$121K	$297K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2224	−0.428%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2223	−0.459%	$274K	$1.2M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2225	−0.383%	$5.2M	$13.7M	50x	as long as short
BloFin ARB-USDT	+0.0105%	8h	0.2225	−0.365%	$3.0M	$3.3M	75x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0154% / S −0.0018%	1h	0.2225	−0.396%	$843K	—	150x	as long as short
Coinbase International ARB-PERP-INTX	+0.0288%	1h	0.2249	+0.692%	$504K	$2.5M	50x	as long as short
Reya ARBRUSDPERP	+0.0291%	1h	0.2223	−0.481%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0546%	1h	0.2226	−0.359%	$494K	$2.8M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0550%	1h	0.2227	−0.284%	$1.1M	$2.7M	20x	as long as short