LSK

Both sides work against this trade now: funding costs −$88 a day on $10k at the current rate, and Variational Omni is 0.111% cheaper against HTX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.938%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.000% in total (about 0.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.68 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.