Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Variational Omni−0.149%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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.149% cheaper against Variational Omni than usual: you would sell low and buy high, −$15 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 EDGE	0.5862	0.0100	pay 0.0050% / 4h	2h 12m	$191K	$130K	—
Short	Lighter EDGE	0.5854	0.0096	get 0.0012% / 1h	12m 32s	$54K	$9K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.149%Rate

Funding earned: −$0.84
Price spread: −0.149% → 0.000%: −$14.9
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$15.74
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 11 min ago; Lighter: 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, 11 min ago	9.38 bp	doesn't fit	449.5 bp −$4,495	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

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
Backpack EDGE_USDC_PERP	−0.0132%	1h	0.5869	+0.109%	$59K	$100K	3.3x	as long as short
Lighter EDGEshort	+0.0096%	1h	0.5854	−0.149%	$54K	$9K	3x
Bybit EDGEUSDT	+0.0100%	4h	0.5863	+0.013%	$7.0M	$3.2M	25x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5863	+0.013%	$4.7M	$990K	20x	as long as short
Variational Omni EDGElong	+0.0100%	4h	0.5862	long leg	$191K	$130K	—
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5876	+0.236%	$2K	$1.7M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5871	+0.149%	$8K	$295K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5827	−0.601%	$3K	$602K	10x	as long as short
KuCoin EDGEUSDTM	+0.0152%	4h	0.5864	+0.030%	$2.1M	$2.3M	50x	as long as short
BloFin EDGE-USDT	+0.0381%	4h	0.5861	−0.021%	$632K	$125K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster EDGEUSDT	+0.0383%	4h	0.5865	+0.047%	$67K	$134K	5x	as long as short
Binance EDGEUSDT	+0.0404%	4h	0.5866	+0.064%	$10.0M	$10.0M	50x	as long as short
Extended EDGE-USD	+0.0408%	1h	0.5863	+0.005%	$27K	$230K	5x	as long as short
MEXC EDGE_USDT	+0.0410%	4h	0.5870	+0.132%	$1.2M	$930K	50x	as long as short
OKX EDGE-USDT-SWAP	+0.0423%	4h	0.5872	+0.167%	$3.6M	$5.7M	20x	as long as short
edgeX EDGEUSDC	+0.0427%	4h	0.5868	+0.092%	$14.0M	$3.4M	30x	as long as short
Orderly PERP_EDGE_USDC	+0.0454%	4h	0.5870	+0.132%	$3K	—	10x	as long as short