S

Alert

Funding spread now, next payment 17:00 UTC+0.0934%/8h

paid, last 24h+0.319%paid, last 3 days+0.035%to open and closeno order book

Long on Variational Omni Short on Backpack

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.035% in total (about 4.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni S	0.03916	−0.0834	get 0.0417% / 4h	3h 33m	$609K	$120K	—
Short	Backpack S_USDC_PERP	0.03920	0.0100	get 0.0013% / 1h	33m 54s	$114K	$226K	5x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee BackpackbpOrdersRate

Funding earned: $196.13
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: $186.13
Break-even: 0.4 days

Slippage unknown: Variational Omni: RFQ quote, 11 min ago; Backpack: live order book, 11 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.094%
Avg gap 7d: +0.212%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 11 min ago	7.70 bp	doesn't fit	100.1 bp −$1,001	doesn't fit	doesn't fit
Sell Backpack live order book, 11 min ago	12.77 bp	18.2 bp −$18	doesn't fit	doesn't fit	doesn't fit

S on 25 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
01 Exchange SUSD	−1.2600%	1h	$22K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.2919%	1h	$33K	$48K	10x	as long as short
Coinbase International S-PERP-INTX	−0.2448%	1h	$48K	$12K	25x	as long as short
Variational Omni Slong	−0.0834%	4h	$609K	$120K	—
GMX S/USD [WBTC.b-USDC]	L −0.0371% / S +0.0343%	1h	$1K	—	100x	as long as short
Orderly PERP_S_USDC	−0.0131%	4h	$103K	$331K	10x	as long as short
Reya SRUSDPERP	−0.0101%	1h	$4	—	15x	as long as short
Aster SUSDT	−0.0066%	4h	$42K	$266K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	$604	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	$2K	$120K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	$164K	$324K	5x	as long as short
Hyperliquid S	+0.0100%	1h	$1.0M	$1.5M	5x	as long as short
Binance SUSDT	+0.0100%	4h	$5.4M	$40.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	$5.6M	$9.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	$997K	$12.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	$326K	$374K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	$3.5M	$3.5M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	$1.8M	$3.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	$1.2M	$4.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	—	$7.0M	—	as long as short
Backpack S_USDC_PERPshort	+0.0100%	1h	$114K	$226K	5x
ApeX Omni SUSDT	+0.0100%	1h	$25K	$501K	50x	as long as short
Extended S-USD	+0.0104%	1h	$221K	$946K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0260%	1h	$66K	$11K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	$280K	$266K	75x	as long as short