Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0533%/8hpaid last 24h −0.085%

Price spread now: Variational Omni against Injective−1.218%76s7-day average — · you buy dearer than you sell

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

Long on Injective 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

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Variational Omni is 1.218% cheaper against Injective than usual: you would sell low and buy high (−$122 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. 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	Injective MANA/USDC PERP	0.08580	0.0033	pay 0.0004% / 1h	6m 05s	$1K	$279	5.5x
Short	Variational Omni MANA	0.08475	−0.0499	pay 0.0499% / 8h	4h 06m	$82K	$2K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Injective. 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 InjectivebpFee Variational OmnibpOrdersPrice spread, now −1.218%Rate

Funding earned: −$111.86
Price spread: −1.218% → 0.000%: −$121.84
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$233.73
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; 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 Injective no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

Injective and 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.

MANA 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
Variational Omni MANAshort	−0.0499%	8h	0.08475	−1.218%	$82K	$2K	—
Injective MANA/USDC PERPlong	+0.0033%	1h	0.08580	long leg	$1K	$279	5.5x
BingX MANA-USDT	+0.0062%	8h	0.08490	−1.049%	—	$2.4M	—	as long as short
BloFin MANA-USDT	+0.0072%	8h	0.08494	−1.002%	$174K	$41K	20x	as long as short
OKX MANA-USDT-SWAP	+0.0091%	8h	0.08488	−1.072%	$626K	$1.6M	20x	as long as short
Aster MANAUSDT	+0.0100%	8h	0.08498	−0.956%	$8K	$8K	5x	as long as short
Binance MANAUSDT	+0.0100%	8h	0.08493	−1.010%	$3.4M	$4.8M	75x	as long as short
Bybit MANAUSDT	+0.0100%	8h	0.08478	−1.189%	$2.7M	$734K	75x	as long as short
Gate MANA_USDT	+0.0100%	8h	0.08492	−1.026%	$309K	$238K	75x	as long as short
MEXC MANA_USDT	+0.0100%	8h	0.08494	−1.002%	$12.6M	$670K	200x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MANAUSDTM	+0.0100%	8h	0.08500	−0.932%	$1.7M	$67K	50x	as long as short
Bitget MANAUSDT	+0.0100%	8h	0.08501	−0.916%	$1.6M	$437K	25x	as long as short
Kraken Futures PF_MANAUSD	+0.0159%	1h	0.08505	−0.879%	$97K	$56K	20x	as long as short