Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Bybit+0.081%7-day average −0.012% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.154%+$15 on $10k

Price spread, last 3 days (all we have)−0.107%−$11 · spread now +0.081%, 7d avg −0.012%

Together, before fees+0.047%+ Points / potential airdropVariational Omni: Active · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.093% dearer against Bybit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit STABLEUSDT	0.02476	0.0100	pay 0.0050% / 4h	2h 21m	$1.5M	$817K	25x
Short	Variational Omni STABLE	0.02478	0.0100	get 0.0050% / 4h	2h 21m	$145K	$51K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.081%Rate

Funding earned: $0
Price spread: +0.081% → −0.012%: $9.3
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$1.7
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; Variational Omni: RFQ quote, 3 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 Bybit live order book, 5 min ago	2.02 bp	34.7 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	8.07 bp	doesn't fit	234.2 bp −$2,342	doesn't fit	doesn't fit

STABLE on 15 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
Aster STABLEUSDT	−0.0269%	4h	0.02477	+0.055%	$19K	$7K	20x	as long as short
BloFin STABLE-USDT	+0.0059%	4h	0.02475	−0.036%	$114K	$8K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02491	+0.622%	$114K	$3K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02474	−0.097%	$872K	$235K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02473	−0.105%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDTlong	+0.0100%	4h	0.02476	long leg	$1.5M	$817K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02476	+0.004%	$204K	$418K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02474	−0.077%	$171K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02474	−0.077%	$660K	$158K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02480	+0.166%	$175K	$27K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02477	+0.044%	$292K	$116K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02476	+0.004%	—	$6.5M	—	as long as short
Variational Omni STABLEshort	+0.0100%	4h	0.02478	+0.081%	$145K	$51K	—
SunX STABLE-USDT	+0.0100%	4h	0.02476	0.000%	$2K	$646K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02473	−0.121%	$12K	$175K	10x	as long as short