Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against Variational Omni+0.068%7-day average — · you sell dearer than you buy

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 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.068% dearer against Variational Omni than usual: you sell high and buy low, +$7 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BASED	0.06708	0.0100	pay 0.0050% / 4h	2h 52m	$92K	$21K	—
Short	Bybit BASEDUSDT	0.06713	0.0100	get 0.0050% / 4h	2h 52m	$2.1M	$572K	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

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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 +0.068%Rate

Funding earned: $0
Price spread: +0.068% → 0.000%: $6.76
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: −$4.24
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Bybit: live order book, 4 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 no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	3.73 bp	72.4 bp −$72	917.2 bp −$9,172	doesn't fit	doesn't fit

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.

BASED on 15 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
BloFin BASED-USDT	+0.0095%	4h	0.06727	+0.276%	$211K	$37K	25x	as long as short
Aster BASEDUSDT	+0.0100%	4h	0.06722	+0.200%	$28K	$6K	5x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06727	+0.280%	$4.1M	$2.9M	25x	as long as short
Bybit BASEDUSDTshort	+0.0100%	4h	0.06713	+0.068%	$2.1M	$572K	25x
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06717	+0.127%	$2.6M	$3.3M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06719	+0.157%	$534K	$510K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06724	+0.232%	$4.8M	$643K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06719	+0.157%	$566K	$111K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06721	+0.187%	$1.3M	$357K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06720	+0.172%	—	$1.6M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BASEDlong	+0.0100%	4h	0.06708	long leg	$92K	$21K	—
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06727	+0.281%	$92K	$388K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06719	+0.157%	$1K	$786K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06726	+0.257%	$5K	$226K	5x	as long as short
Orderly PERP_BASED_USDC	+0.0259%	4h	0.06728	+0.291%	$3K	$652	10x	as long as short