Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h −0.017%

Price spread now: Variational Omni against ApeX Omni+0.122%7-day average −0.054% · you sell dearer than you buy

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.033%−$3 on $10k

Price spread, last 3 days (all we have)−0.173%−$17 · spread now +0.122%, 7d avg −0.054%

Together, before fees−0.207%+ Points / potential airdropVariational Omni: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.175% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.122% now, against its 7-day average of −0.054%): +$18 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni VIRTUALUSDT	0.7183	0.0100	pay 0.0013% / 1h	21m 11s	$40K	$245K	50x
Short	Variational Omni VIRTUAL	0.7192	0.0037	get 0.0019% / 4h	2h 21m	$527K	$878K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now +0.122%Rate

Funding earned: −$13.14
Price spread: +0.122% → −0.054%: $17.54
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$5.6
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: ApeX Omni: live order book, 65 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 ApeX Omni live order book, 65 min ago	7.02 bp	14.8 bp −$15	103.4 bp −$1,034	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	4.18 bp	doesn't fit	20.9 bp −$209	doesn't fit	doesn't fit

VIRTUAL on 33 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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0167%	1h	0.7194	+0.153%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.919%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7190	+0.096%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7187	+0.052%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7199	+0.223%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7194	+0.156%	$13K	—	150x	as long as short
Variational Omni VIRTUALshort	+0.0037%	4h	0.7192	+0.122%	$527K	$878K	—
Orderly PERP_VIRTUAL_USDC	+0.0082%	4h	0.7194	+0.153%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7189	+0.088%	$327K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7202	+0.267%	$8.8M	$3.7M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7196	+0.181%	$195K	$82K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7202	+0.258%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7193	+0.139%	$16.5M	$37.1M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7190	+0.097%	$15.6M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7189	+0.084%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7195	+0.167%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7191	+0.111%	$17.2M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7196	+0.181%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7196	+0.181%	$6.2M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7191	+0.111%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7198	+0.209%	$236K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7182	−0.014%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7182	−0.014%	$636K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDTlong	+0.0100%	1h	0.7183	long leg	$40K	$245K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7203	+0.273%	$38K	$798K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7195	+0.167%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7193	+0.139%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7191	+0.117%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7193	+0.145%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7195	+0.171%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7193	+0.139%	$817K	$804K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7203	+0.278%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0523%	1h	0.7204	+0.298%	$538K	$543K	50x	as long as short