Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Bybit+0.227%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 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: Variational Omni is 0.227% dearer against Bybit than usual: you sell high and buy low, +$23 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	Bybit IOUSDT	0.1520	0.0100	pay 0.0050% / 4h	2h 21m	$1.1M	$912K	25x
Short	Variational Omni IO	0.1523	0.0100	get 0.0050% / 4h	2h 21m	$33K	$13K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.227%Rate

Funding earned: $0
Price spread: +0.227% → 0.000%: $22.69
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $11.69
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 4 min ago; Variational Omni: 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 Bybit live order book, 4 min ago	6.57 bp	75.1 bp −$75	458.0 bp −$4,580	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

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.

IO on 13 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
Hyperliquid IO	+0.0100%	1h	0.1521	+0.092%	$1.0M	$386K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1522	+0.161%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1522	+0.145%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDTlong	+0.0100%	4h	0.1520	long leg	$1.1M	$912K	25x
Gate IO_USDT	+0.0100%	4h	0.1520	+0.026%	$235K	$560K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1520	+0.013%	$1.2M	$230K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1523	+0.211%	$356K	$679K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1523	+0.211%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1522	+0.145%	—	$1.3M	—	as long as short
Variational Omni IOshort	+0.0100%	4h	0.1523	+0.227%	$33K	$13K	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1522	+0.120%	$3K	$132K	5x	as long as short
Injective IO/USDC PERP	+0.1587%	1h	0.1502	−1.171%	$2K	$201	5.5x	as long as short
Kraken Futures PF_IOUSD	+2.1504%	1h	0.1523	+0.196%	$39K	$18K	10x	as long as short