Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.5022%/8h= −549.9% APRpaid last 24h −2.000%

Price spread now: 01 Exchange against Variational Omni−1.691%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on 01 Exchange

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 airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$151 a day on $10k at the current rate, and 01 Exchange is 1.691% cheaper against Variational Omni than usual: you would sell low and buy high (−$169 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni S	0.03906	−0.0978	get 0.0489% / 4h	25m 36s	$608K	$31K	—
Short	01 Exchange SUSD	0.03840	−0.6000	pay 0.0750% / 1h	25m 36s	$23K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −1.691%Rate

Funding earned: −$1,054.62
Price spread: −1.691% → 0.000%: −$169.1
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$1,230.72
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 53 min ago; 01 Exchange: 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 Variational Omni RFQ quote, 53 min ago	6.41 bp	doesn't fit	98.7 bp −$987	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
01 Exchange SUSDshort	−0.6000%	1h	0.03840	−1.691%	$23K	$2K	5x
Kraken Futures PF_SUSD	−0.2132%	1h	0.03911	+0.138%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.049%	$47K	$5K	25x	as long as short
Variational Omni Slong	−0.0978%	4h	0.03906	long leg	$608K	$31K	—
GMX S/USD [WBTC.b-USDC]	L −0.0202% / S +0.0195%	1h	0.03915	+0.227%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03911	+0.128%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03915	+0.231%	$603	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0005%	1h	0.03916	+0.255%	$66K	$10K	10x	as long as short
Orderly PERP_S_USDC	+0.0028%	4h	0.03912	+0.152%	$100K	$339K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.965%	$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	0.03914	+0.204%	$164K	$217K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03912	+0.163%	$980K	$695K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03921	+0.384%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03909	+0.063%	$5.3M	$17.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03904	−0.053%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03908	+0.050%	$978K	$4.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03916	+0.255%	$319K	$259K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03910	+0.101%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03912	+0.152%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03914	+0.204%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03909	+0.076%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03920	+0.357%	$114K	$312K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.101%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03908	+0.052%	$220K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03917	+0.280%	$267K	$126K	75x	as long as short