Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.028%

Price spread now: Injective against Variational Omni+0.362%76s7-day average +1.796% · you sell dearer than you buy

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.105%+$11 on $10k

Price spread, last 4 days (all we have)−1.770%−$177 · spread now +0.362%, 7d avg +1.796%

Together, before fees−1.665%+ Points / potential airdropVariational Omni: Active · farm board−$166 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.435% cheaper against Variational Omni than usual: you would sell low and buy high (−$143 if the spread goes back to its 7-day average of +1.796%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.105%, so the current rate has only just turned against you. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni FIL	0.9819	0.0100	pay 0.0100% / 8h	6h 18m	$435K	$277K	—
Short	Injective FIL/USDC PERP	0.9855	0.0033	get 0.0004% / 1h	18m 10s	$2K	$240K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.362%Rate

Funding earned: −$14
Price spread: +0.362% → +1.796%: −$143.47
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$157.49
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 34 min ago; Injective: 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, 34 min ago	4.09 bp	doesn't fit	42.0 bp −$420	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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.

FIL on 29 exchanges

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
Deribit FIL_USDC-PERPETUAL	−0.0055%	1h	0.9834	+0.148%	$168K	$5K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0032%	1h	0.9830	+0.107%	$364K	$2.3M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9823	+0.038%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9831	+0.117%	$57K	$925	10x	as long as short
Injective FIL/USDC PERPshort	+0.0033%	1h	0.9855	+0.362%	$2K	$240K	12x
Bybit FILUSDT	+0.0065%	8h	0.9821	+0.015%	$15.1M	$19.3M	25x	as long as short
Lighter FIL	+0.0096%	1h	0.9824	+0.043%	$144K	$280K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9830	+0.108%	$7.9M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9828	+0.085%	$501K	$438K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	0.9824	+0.046%	$57.1M	$173.6M	75x	as long as short

Show all 29 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX FIL-USDT-SWAP	+0.0100%	8h	0.9821	+0.015%	$17.3M	$101.0M	50x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9824	+0.046%	$8.2M	$15.4M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9824	+0.046%	$227K	$95K	50x	as long as short
KuCoin FILUSDTM	+0.0100%	8h	0.9828	+0.087%	$7.1M	$7.7M	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9822	+0.026%	$11.6M	$19.2M	75x	as long as short
BingX FIL-USDT	+0.0100%	8h	0.9824	+0.046%	—	$11.6M	—	as long as short
Variational Omni FILlong	+0.0100%	8h	0.9819	long leg	$435K	$277K	—
edgeX FILUSDC	+0.0100%	4h	0.9827	+0.074%	$45K	$296K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9823	+0.034%	$296K	$1.7M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9820	+0.005%	$23K	$180K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9840	+0.212%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9830	+0.107%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9826	+0.066%	$475	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9841	+0.219%	$626K	$5.2M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9820	+0.005%	$1.3M	$2.5M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9828	+0.085%	$696K	$4.2M	10x	as long as short
Kraken Futures PF_FILUSD	+0.0114%	1h	0.9835	+0.162%	$1.3M	$2.1M	50x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9826	+0.066%	$2.7M	$614K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0595% / S −0.0280%	1h	0.9825	+0.057%	$263K	—	100x	as long as short