Funding you earn now, next payment 12:00 UTC−0.0197%/8h= −21.6% APRnext payment −$0.99 per $10,000 · paid last 24h −0.228%
Price spread now: Variational Omni against Orderly−0.075%48s7-day average −0.134% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.455%−$46 on $10k
+Price spread, last 4 days (all we have)+1.449%+$145 · spread now −0.075%, 7d avg −0.134%
=Together, before fees+0.994%+ Points / potential airdropVariational Omni: Active · farm board+$99 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.059% dearer against Orderly than usual: you sell high and buy low (spread −0.075% now, against its 7-day average of −0.134%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 4 days (−0.455% in total) that is about 11 hours. The two prices were read 48 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 | Orderly PERP_S_USDC | 0.04433 | 0.0063 | pay 0.0031% / 4h | 3h 00m | $110K | $647K | 10x |
| Short | Variational Omni S | 0.04430 | −0.0135 | pay 0.0067% / 4h | 3h 00m | $688K | $7K | — |
Orderly PERP_S_USDC
Variational Omni SFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$41.45
- Price spread: −0.075% → −0.134%
- $5.86
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$41.59
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 34 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 34 min ago | 6.95 bp | doesn't fit | 85.7 bp −$857 | doesn't fit | doesn't fit |
Orderly: 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.
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 | −0.2577% | 1h | 0.04403 | −0.672% | $38K | $23K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1248% | 1h | 0.04308 | −2.820% | $53K | $18K | 25x | as long as short |
| 01 Exchange SUSD | −0.1040% | 1h | 0.04450 | +0.383% | $27K | $3K | 5x | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.04453 | +0.440% | $2K | — | 100x | as long as short |
| Variational Omni Sshort | −0.0135% | 4h | 0.04430 | −0.075% | $688K | $7K | — | |
| Reya SRUSDPERP | −0.0101% | 1h | 0.04439 | +0.145% | $4 | — | 15x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.04463 | +0.672% | $686 | — | 150x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | −7.512% | $2K | $37K | 12x | as long as short |
| Orderly PERP_S_USDClong | +0.0063% | 4h | 0.04433 | long leg | $110K | $647K | 10x | |
| Lighter S | +0.0096% | 1h | 0.04437 | +0.090% | $154K | $150K | 5x | as long as short |
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
01 Exchange SUSD
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
gTrade (Gains Network) S/USD
Injective S/USDC PERP
Lighter SShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid S | +0.0100% | 1h | 0.04440 | +0.151% | $1.1M | $779K | 5x | as long as short |
| Aster SUSDT | +0.0100% | 4h | 0.04451 | +0.403% | $47K | $189K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.04451 | +0.406% | $6.5M | $18.2M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.04443 | +0.226% | $6.3M | $5.0M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.04436 | +0.068% | $1.3M | $5.4M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.04441 | +0.180% | $374K | $239K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.04442 | +0.203% | $4.6M | $2.6M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.04441 | +0.180% | $2.1M | $2.9M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04439 | +0.135% | $1.3M | $2.8M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.04440 | +0.158% | — | $7.0M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.04370 | −1.421% | $25K | $516K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.04438 | +0.107% | $244K | $1.3M | 10x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.0201% | 1h | 0.04435 | +0.045% | $75K | $512 | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.04446 | +0.293% | $314K | $202K | 75x | as long as short |
| Backpack S_USDC_PERP | +0.0913% | 1h | 0.04440 | +0.158% | $104K | $473K | 5x | as long as short |
Hyperliquid S
Aster SUSDT
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
Deribit S_USDC-PERPETUAL
BloFin S-USDT
Backpack S_USDC_PERP