Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0255%/8h= −28.0% APRpaid last 24h −0.055%

Price spread now: Variational Omni against Deribit+0.057%7-day average −0.070% · you sell dearer than you buy

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.215%−$21 on $10k

Price spread, last 3 days (all we have)+0.100%+$10 · spread now +0.057%, 7d avg −0.070%

Together, before fees−0.114%+ Points / potential airdropVariational Omni: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.127% dearer against Deribit than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of −0.070%): +$13 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NEAR_USDC-PERPETUAL	4.3862	0.0343	pay 0.0043% / 1h	15m 15s	$1.9M	$4.2M	25x
Short	Variational Omni NEAR	4.3887	0.0088	get 0.0088% / 8h	6h 15m	$8.5M	$18.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now +0.057%Rate

Funding earned: −$53.65
Price spread: +0.057% → −0.070%: $12.67
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$47.98
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Deribit: live order book, 4 min ago; Variational Omni: RFQ quote, 4 min ago. 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 Deribit live order book, 4 min ago	8.54 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.83 bp	doesn't fit	12.9 bp −$129	36.0 bp −$3,600	doesn't fit

NEAR on 44 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
Reya NEARRUSDPERP	−0.0171%	1h	4.3857	−0.011%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0064%	1h	4.3882	+0.046%	$2.2M	$14.3M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3762	−0.229%	$108K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3803	−0.135%	$591K	$20.0M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3840	−0.050%	$194K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−5.590%	$578	$302K	12x	as long as short
Variational Omni NEARshort	+0.0088%	8h	4.3887	+0.057%	$8.5M	$18.5M	—
Popdex NEARUSDT	+0.0096%	1h	4.3820	−0.096%	$112K	$495K	50x	as long as short
Pacifica NEAR	+0.0100%	1h	4.3815	−0.108%	$412K	$1.2M	10x	as long as short
Binance NEARUSDT	+0.0100%	8h	4.3774	−0.200%	$265.7M	$1.08B	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NEARUSDT	+0.0100%	8h	4.3652	−0.479%	$221.2M	$420.9M	75x	as long as short
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3640	−0.506%	$62.3M	$289.5M	50x	as long as short
Arcus NEAR-USD	+0.0100%	1h	4.3890	+0.064%	$209K	$1.7M	10x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3850	−0.027%	$250K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3684	−0.406%	$31.5M	$62.7M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3670	−0.438%	$74.7M	$143.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3860	−0.005%	$53.8M	$43.7M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3682	−0.410%	$71.8M	$126.2M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3720	−0.324%	—	$6.6M	—	as long as short
edgeX NEARUSDC	+0.0100%	4h	4.4564	+1.600%	$281K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.4520	+1.500%	$1.5M	$1.3M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.4540	+1.546%	$183K	$765K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3888	+0.059%	$210K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3836	−0.059%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3900	+0.087%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3835	−0.062%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3850	−0.027%	$453K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3750	−0.255%	$3.9M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0102%	8h	4.3783	−0.181%	$32K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3810	−0.120%	$3.8M	$18.5M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3855	−0.016%	$204K	$34K	3x	as long as short
Aster NEARUSDT	+0.0176%	8h	4.3841	−0.047%	$3.0M	$5.8M	50x	as long as short
Kraken Futures PF_NEARUSD	+0.0216%	1h	4.3835	−0.062%	$8.0M	$40.8M	50x	as long as short
Deribit NEAR_USDC-PERPETUALlong	+0.0343%	1h	4.3862	long leg	$1.9M	$4.2M	25x
GMX NEAR/USD [ETH-USDC]	L +0.0347% / S −0.0242%	1h	4.3833	−0.065%	$255K	—	100x	as long as short
Nado NEAR-PERP	+0.0407%	1h	4.3860	−0.005%	$1.9M	$3.1M	10x	as long as short
01 Exchange NEARUSD	+0.0416%	1h	4.3859	−0.007%	$13K	$7K	10x	as long as short
RISEx NEAR/USDC	+0.0509%	1h	4.3860	−0.005%	$554K	$1.3M	10x	as long as short
Phoenix NEAR	+0.0592%	1h	4.4150	+0.657%	$1.8M	$2.6M	10x	as long as short
Lighter RH NEAR	+0.0784%	1h	4.3778	−0.192%	$1.6M	$7.0M	10x	as long as short
Hyperliquid NEAR	+0.0901%	1h	4.3737	−0.285%	$368.4M	$309.4M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0912%	1h	4.3715	−0.335%	$1.5M	$6.3M	20x	as long as short
Aftermath Perps NEARUSD	+0.1638%	1h	4.4124	+0.596%	$6K	$12K	10x	as long as short
Lighter NEAR	+0.1760%	1h	4.3886	+0.054%	$17.6M	$25.7M	15x	as long as short