Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0290%/8h= −31.8% APRpaid last 24h −0.023%

Price spread now: Variational Omni against StandX+0.311%7-day average +0.013% · you sell dearer than you buy

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

Long on StandX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 7 days−0.323%−$32 · spread now +0.311%, 7d avg +0.013%

Together, before fees−0.345%+ Points / potential airdropStandX: Active · Variational Omni: Active · farm board−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.298% dearer against StandX than usual: you sell high and buy low (spread +0.311% now, against its 7-day average of +0.013%): +$30 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 3.4 days. At the pace of the last 3 days (−0.022% in total) that is about 46 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.022% in total (about -2.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX CL-USD	92.430	0.0040	pay 0.0005% / 1h	17m 25s	$726K	$3.0M	40x
Short	Variational Omni CL	92.718	−0.0250	pay 0.0125% / 4h	2h 17m	$13.3M	$11.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against StandX. 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 StandXbpFee Variational OmnibpOrdersPrice spread, now +0.311%Rate

Funding earned: −$60.97
Price spread: +0.311% → +0.013%: $29.81
Slippage, 4 orders: no order book: not counted
Fee StandX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$39.16
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: StandX: live order book, 1 min ago; Variational Omni: RFQ quote, 2 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 StandX live order book, 1 min ago	2.71 bp	61.7 bp −$62	67.9 bp −$679	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.27 bp	doesn't fit	2.3 bp −$23	5.7 bp −$566	doesn't fit

CL on 35 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 WTIOIL_USDC-PERPETUAL	−0.0503%	1h	92.870	+0.476%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0293%	4h	92.956	+0.570%	$24.0M	$72.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0258%	4h	92.840	+0.444%	$53K	$631K	25x	as long as short
Variational Omni CLshort	−0.0250%	4h	92.718	+0.311%	$13.3M	$11.0M	—
Binance CLUSDT	−0.0250%	4h	92.900	+0.508%	$244.6M	$977.1M	100x	as long as short
Gate CL_USDT	−0.0113%	8h	92.900	+0.508%	$20.9M	$53.8M	100x	as long as short
Nado WTI-PERP	−0.0068%	1h	92.989	+0.604%	$965K	$675K	10x	as long as short
tradeXYZ xyz:CL	−0.0048%	1h	92.883	+0.490%	$184.6M	$220.5M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	+0.346%	$402K	$946K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.954	+0.567%	$274K	$884K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0038%	1h	92.880	+0.487%	$3.5M	$5.7M	20x	as long as short
QFEX CL-USD	−0.0033%	1h	92.890	+0.498%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0020%	4h	92.900	+0.508%	$42.9M	$105.0M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.911	+0.521%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.940	+0.552%	$26.9M	$82.2M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.892	+0.500%	$42.0M	$44.1M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.920	+0.530%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.894	+0.502%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.417	−0.014%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0013%	1h	92.836	+0.440%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0029%	8h	92.929	+0.540%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.941	+0.553%	$11.2M	$10.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.970	+0.584%	$2.1M	$24.4M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	93.041	+0.661%	$3.3M	$2.7M	20x	as long as short
StandX CL-USDlong	+0.0040%	1h	92.430	long leg	$726K	$3.0M	40x
Vest CL-PERP	+0.0046%	1h	92.900	+0.508%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.899	+0.507%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.905	+0.514%	$2.1M	$61K	20x	as long as short
edgeX CLUSDC	+0.0061%	4h	92.816	+0.418%	$528K	$303K	30x	as long as short
KuCoin CLUSDTM	+0.0076%	4h	92.944	+0.556%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.952	+0.565%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.840	+0.444%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.866	+0.471%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.905	+0.514%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.04	+10.393%	$19K	$11K	30x	as long as short