Funding arb · Price arb /

RIVER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.005%

Price spread now: Variational Omni against Lighter−0.176%7-day average — · you buy dearer than you sell

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

Long on Lighter 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 airdropLighter: Season 3 · Variational 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 0.176% cheaper against Lighter than usual: you would sell low and buy high, −$18 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	Lighter RIVER	1.2690	0.0096	pay 0.0012% / 1h	21m 45s	$41K	$14K	3x
Short	Variational Omni RIVER	1.2668	0.0100	get 0.0050% / 4h	21m 45s	$42K	$20K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. 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 LighterbpFee Variational OmnibpOrdersPrice spread, now −0.176%Rate

Funding earned: $0.84
Price spread: −0.176% → 0.000%: −$17.61
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$16.77
Costs to cover: 0.000%
Break-even: 146.7 days

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

Lighter 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.

RIVER 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
Lighter RIVERlong	+0.0096%	1h	1.2690	long leg	$41K	$14K	3x
KuCoin RIVERUSDTM	+0.0100%	4h	1.2680	−0.079%	$2.5M	$3.2M	50x	as long as short
Variational Omni RIVERshort	+0.0100%	4h	1.2668	−0.176%	$42K	$20K	—
GRVT RIVER_USDT_Perp	+0.0100%	4h	1.2663	−0.214%	$33K	$462K	10x	as long as short
SunX RIVER-USDT	+0.0100%	4h	1.2660	−0.236%	$2K	$1.1M	20x	as long as short
HTX RIVER-USDT	+0.0100%	4h	1.2730	+0.315%	$47K	$66K	20x	as long as short
Gate RIVER_USDT	+0.0194%	4h	1.2670	−0.158%	$427K	$103K	20x	as long as short
OKX RIVER-USDT-SWAP	+0.0215%	4h	1.2700	+0.079%	$2.0M	$3.9M	20x	as long as short
Bybit RIVERUSDT	+0.0309%	4h	1.2680	−0.079%	$3.8M	$1.8M	25x	as long as short
MEXC RIVER_USDT	+0.0396%	4h	1.2690	0.000%	$3.7M	$1.6M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance RIVERUSDT	+0.0400%	4h	1.2697	+0.054%	$6.1M	$11.2M	50x	as long as short
BloFin RIVER-USDT	+0.0437%	4h	1.2700	+0.079%	$415K	$32K	50x	as long as short
BingX RIVER-USDT	+0.0462%	4h	1.2690	0.000%	—	$6.8M	—	as long as short
Bitget RIVERUSDT	+0.0484%	4h	1.2680	−0.079%	$3.0M	$2.0M	20x	as long as short
Kraken Futures PF_RIVERUSD	+0.0637%	1h	1.2688	−0.013%	$57K	$70K	10x	as long as short
Aster RIVERUSDT	+0.0839%	4h	1.2671	−0.147%	$72K	$28K	10x	as long as short