Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Extended+0.061%7-day average +0.097% · you sell dearer than you buy

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.028%+$3 on $10k

Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.061%, 7d avg +0.097%

Together, before fees−0.022%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board−$2 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 0.036% cheaper against Extended than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended STABLE-USD	0.02458	0.0104	pay 0.0013% / 1h	50m 17s	$12K	$211K	10x
Short	Variational Omni STABLE	0.02460	0.0100	get 0.0050% / 4h	3h 50m	$144K	$8K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now +0.061%Rate

Funding earned: −$0.84
Price spread: +0.061% → +0.097%: −$3.63
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.47
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 46 min ago; Variational Omni: RFQ quote, 49 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 Extended live order book, 46 min ago	6.38 bp	44.3 bp −$44	307.9 bp −$3,079	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 49 min ago	10.25 bp	doesn't fit	248.0 bp −$2,480	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
BloFin STABLE-USDT	+0.0071%	4h	0.02457	−0.045%	$113K	$10K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02470	+0.496%	$113K	$10K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02459	+0.041%	$866K	$165K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02458	−0.023%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02459	+0.027%	$2.5M	$2.6M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02461	+0.134%	$1.6M	$763K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02466	+0.321%	$213K	$441K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02456	−0.085%	$177K	$56K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02458	−0.004%	$593K	$158K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02465	+0.281%	$183K	$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	0.02458	−0.004%	$283K	$89K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02458	−0.004%	—	$6.5M	—	as long as short
Variational Omni STABLEshort	+0.0100%	4h	0.02460	+0.061%	$144K	$8K	—
SunX STABLE-USDT	+0.0100%	4h	0.02461	+0.102%	$2K	$944K	20x	as long as short
Extended STABLE-USDlong	+0.0104%	1h	0.02458	long leg	$12K	$211K	10x