Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0450%/8h= +49.3% APRpaid last 24h +0.363%

Price spread now: ApeX Omni against Variational Omni+0.190%103s7-day average +0.202% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.657%+$66 on $10k

Price spread, last 4 days (all we have)−0.333%−$33 · spread now +0.190%, 7d avg +0.202%

Together, before fees+0.324%+ Points / potential airdropVariational Omni: Active · farm board+$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.202%, so right now this pair is about funding alone: +$14 a day on $10k at the current rate. The two prices were read 103 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	Variational Omni S	0.04052	−0.0350	get 0.0175% / 4h	1h 57m	$630K	$30K	—
Short	ApeX Omni SUSDT	0.04060	0.0100	get 0.0013% / 1h	57m 41s	$24K	$445K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.190%Rate

Funding earned: $94.54
Price spread: +0.190% → +0.202%: −$1.18
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $83.36
Costs to cover: 0.100%
Break-even: 0.8 days

Slippage unknown: Variational Omni: RFQ quote, 6 min ago; ApeX Omni: live order book, 5 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 Variational Omni RFQ quote, 6 min ago	9.85 bp	doesn't fit	120.7 bp −$1,207	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 5 min ago	36.90 bp	63.0 bp −$63	doesn't fit	doesn't fit	doesn't fit

S on 24 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
01 Exchange SUSD	−0.7824%	1h	0.03940	−2.771%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1696%	1h	0.04051	−0.040%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−0.747%	$48K	$16K	25x	as long as short
Variational Omni Slong	−0.0350%	4h	0.04052	long leg	$630K	$30K	—
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04053	+0.022%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04047	−0.122%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04053	+0.025%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.177%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0054%	4h	0.04057	+0.116%	$101K	$331K	10x	as long as short
Lighter S	+0.0096%	1h	0.04058	+0.141%	$168K	$155K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04057	+0.124%	$1.0M	$564K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04057	+0.116%	$44K	$134K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04050	−0.064%	$5.6M	$14.1M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04045	−0.180%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04048	−0.106%	$1.0M	$3.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04050	−0.057%	$333K	$199K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04049	−0.081%	$3.9M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04046	−0.155%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04050	−0.057%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04053	+0.017%	—	$6.7M	—	as long as short
ApeX Omni SUSDTshort	+0.0100%	1h	0.04060	+0.190%	$24K	$445K	50x
Extended S-USD	+0.0104%	1h	0.04052	0.000%	$228K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0736%	1h	0.04062	+0.240%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1499%	1h	0.04070	+0.437%	$118K	$350K	5x	as long as short