Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Variational Omni against SoDEX+0.196%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Variational Omni

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.196% dearer against SoDEX than usual: you sell high and buy low, +$20 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX VIRTUAL-USD	0.7323	0.0100	pay 0.0013% / 1h	35m 21s	$1K	$9K	5x
Short	Variational Omni VIRTUAL	0.7338	0.0100	get 0.0050% / 4h	3h 35m	$549K	$885K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against SoDEX. 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 SoDEXbpFee Variational OmnibpOrdersPrice spread, now +0.196%Rate

Funding earned: $0
Price spread: +0.196% → 0.000%: $19.61
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $11.61
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SoDEX: no order-book sample; Variational Omni: RFQ quote, 39 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 SoDEX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 39 min ago	3.43 bp	doesn't fit	18.5 bp −$185	doesn't fit	doesn't fit

SoDEX: 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.

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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7321	−0.029%	$25	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7329	+0.075%	$12K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0072%	1h	0.7322	−0.020%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7326	+0.034%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7329	+0.070%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0008%	1h	0.7330	+0.089%	$333K	$417K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.820%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7326	+0.034%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7340	+0.219%	$200K	$155K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7337	+0.185%	$73K	$45K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7326	+0.034%	$17.0M	$39.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7324	+0.007%	$16.6M	$17.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7319	−0.061%	$2.9M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7327	+0.048%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7322	−0.020%	$18.5M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7331	+0.102%	$4.4M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7329	+0.075%	$6.4M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7328	+0.061%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7345	+0.294%	$249K	$165K	10x	as long as short
Variational Omni VIRTUALshort	+0.0100%	4h	0.7338	+0.196%	$549K	$885K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7311	−0.171%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7302	−0.293%	$648K	$889K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7326	+0.034%	$40K	$243K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7329	+0.072%	$47K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7326	+0.034%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USDlong	+0.0100%	1h	0.7323	long leg	$1K	$9K	5x
Extended VIRTUAL-USD	+0.0104%	1h	0.7322	−0.027%	$55K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7325	+0.025%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0166%	1h	0.7335	+0.158%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7325	+0.018%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7328	+0.061%	$833K	$844K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7343	+0.266%	$199K	$92K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0738%	1h	0.7337	+0.183%	$605K	$634K	50x	as long as short