Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h −0.189%

Price spread now: Variational Omni against Extended+0.240%7-day average — · you sell dearer than you buy

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

Long on Extended 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 airdropExtended: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.240% dearer against Extended than usual: you sell high and buy low (spread +0.240% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended kNOT-USD	0.0005032	0.0104	pay 0.0013% / 1h	11m 12s	$4K	$1K	5x
Short	Variational Omni NOT	0.0005044	0.0065	get 0.0032% / 4h	2h 11m	$66K	$34K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now +0.240%Rate

Funding earned: −$8.22
Price spread: +0.240% → 0.000%: $23.95
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $10.73
Costs to cover: 0.050%
Break-even: from the start

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

Extended 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.

NOT on 16 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
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.144%	$1K	$13K	5.5x	as long as short
Variational Omni NOTshort	+0.0065%	4h	0.0005044	+0.240%	$66K	$34K	—
Lighter 1000NOT	+0.0096%	1h	0.0005043	+0.216%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005040	+0.155%	$368K	$50K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005040	+0.155%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005033	+0.015%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005030	−0.044%	$2.1M	$801K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005034	+0.035%	$609K	$576K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005044	+0.234%	$140K	$79K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005032	−0.004%	$1.3M	$493K	200x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0005035	+0.055%	$492K	$119K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005046	+0.274%	$663K	$382K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005035	+0.055%	—	$720K	—	as long as short
Extended kNOT-USDlong	+0.0104%	1h	0.0005032	long leg	$4K	$1K	5x
BloFin NOT-USDT	+0.0147%	4h	0.0005032	−0.004%	$111K	$17K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.7091%	1h	0.0005067	+0.687%	$48K	$9K	10x	as long as short