Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0970%/8h= −106.2% APRpaid last 24h −0.335%

Price spread now: Variational Omni against ApeX Omni−0.255%7-day average −0.201% · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.601%−$60 on $10k

Price spread, last 3 days (all we have)+0.158%+$16 · spread now −0.255%, 7d avg −0.201%

Together, before fees−0.443%+ Points / potential airdropVariational Omni: Active · farm board−$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and Variational Omni is 0.054% cheaper against ApeX Omni than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.201%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SUSDT	0.03910	0.0100	pay 0.0013% / 1h	16m 35s	$25K	$460K	50x
Short	Variational Omni S	0.03900	−0.0870	pay 0.0435% / 4h	1h 16m	$607K	$31K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX Omni. 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.255%Rate

Funding earned: −$203.66
Price spread: −0.255% → −0.201%: −$5.42
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$219.08
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 66 min ago; Variational Omni: RFQ quote, 2 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 ApeX Omni live order book, 66 min ago	25.51 bp	56.5 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	6.41 bp	doesn't fit	44.9 bp −$449	doesn't fit	doesn't fit

S on 25 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
Kraken Futures PF_SUSD	−0.1603%	1h	0.03899	−0.271%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.148%	$47K	$5K	25x	as long as short
Variational Omni Sshort	−0.0870%	4h	0.03900	−0.255%	$607K	$31K	—
01 Exchange SUSD	−0.0264%	1h	0.03850	−1.535%	$23K	$2K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0197% / S +0.0190%	1h	0.03904	−0.164%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03900	−0.262%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03904	−0.146%	$602	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0006%	1h	0.03905	−0.128%	$66K	$10K	10x	as long as short
Orderly PERP_S_USDC	+0.0029%	4h	0.03901	−0.230%	$99K	$344K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.859%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03905	−0.128%	$164K	$223K	5x	as long as short
Aster SUSDT	+0.0097%	4h	0.03905	−0.137%	$43K	$212K	10x	as long as short
Hyperliquid S	+0.0100%	1h	0.03901	−0.240%	$978K	$716K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03902	−0.205%	$5.3M	$18.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03895	−0.384%	$5.6M	$5.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03902	−0.205%	$974K	$5.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03903	−0.179%	$319K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03900	−0.256%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03900	−0.256%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03906	−0.102%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03899	−0.281%	—	$6.7M	—	as long as short
ApeX Omni SUSDTlong	+0.0100%	1h	0.03910	long leg	$25K	$460K	50x
Extended S-USD	+0.0104%	1h	0.03901	−0.224%	$219K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03904	−0.153%	$266K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0466%	1h	0.03910	0.000%	$114K	$300K	5x	as long as short