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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Variational Omni against Lighter+0.266%7-day average — · you sell dearer than you buy

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

Long on Lighter 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 airdropLighter: Season 3 · Variational 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: Variational Omni is 0.266% dearer against Lighter than usual: you sell high and buy low, +$27 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	Lighter EDGE	0.5919	0.0096	pay 0.0012% / 1h	12m 48s	$43K	$19K	3x
Short	Variational Omni EDGE	0.5935	0.0100	get 0.0050% / 4h	1h 12m	$189K	$135K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. 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 LighterbpFee Variational OmnibpOrdersPrice spread, now +0.266%Rate

Funding earned: $0.84
Price spread: +0.266% → 0.000%: $26.6
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $27.44
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; Variational Omni: RFQ quote, 51 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 Lighter no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 51 min ago	5.92 bp	doesn't fit	317.2 bp −$3,172	doesn't fit	doesn't fit

Lighter: 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.

EDGE 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
Lighter EDGElong	+0.0096%	1h	0.5919	long leg	$43K	$19K	3x
Bybit EDGEUSDT	+0.0100%	4h	0.5914	−0.086%	$7.1M	$3.3M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5927	+0.133%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5919	−0.002%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5921	+0.029%	$60K	$105K	3.3x	as long as short
Variational Omni EDGEshort	+0.0100%	4h	0.5935	+0.266%	$189K	$135K	—
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5944	+0.421%	$7K	$2.2M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5944	+0.421%	$9K	$306K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.6208	+4.881%	$4K	$621K	10x	as long as short
BloFin EDGE-USDT	+0.0393%	4h	0.5919	−0.002%	$656K	$101K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EDGE-USD	+0.0440%	1h	0.5924	+0.091%	$27K	$194K	5x	as long as short
Binance EDGEUSDT	+0.0440%	4h	0.5922	+0.055%	$10.1M	$10.3M	50x	as long as short
MEXC EDGE_USDT	+0.0450%	4h	0.5918	−0.019%	$1.1M	$901K	50x	as long as short
Aster EDGEUSDT	+0.0484%	4h	0.5922	+0.047%	$68K	$128K	5x	as long as short
OKX EDGE-USDT-SWAP	+0.0505%	4h	0.5931	+0.201%	$3.7M	$5.8M	20x	as long as short
edgeX EDGEUSDC	+0.0548%	4h	0.5947	+0.466%	$14.2M	$3.6M	30x	as long as short
Orderly PERP_EDGE_USDC	+0.0639%	4h	0.5924	+0.083%	$3K	—	10x	as long as short