Funding arb · Price arb /

NOK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.063%

Price spread now: tradeXYZ against Variational Omni−0.100%7-day average −0.006% · you buy dearer than you sell

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.103%+$10 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now −0.100%, 7d avg −0.006%

Together, before fees+0.210%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.095% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.100% now, against its 7-day average of −0.006%). If the spread goes back, that is −$9 on $10k: about 6.3 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NOK	11.023	0	get 0.0000% / 8h	4h 33m	$137K	$113K	—
Short	tradeXYZ xyz:NOK	11.012	0.0050	get 0.0006% / 1h	33m 26s	$4.2M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Variational 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 Variational OmnibpFee tradeXYZbpOrdersPrice spread, now −0.100%Rate

Funding earned: $10.5
Price spread: −0.100% → −0.006%: −$9.47
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$16.97
Costs to cover: 0.180%
Break-even: 18.3 days

Slippage unknown: Variational Omni: RFQ quote, 25 min ago; tradeXYZ: live order book, 5 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 Variational Omni RFQ quote, 25 min ago	11.88 bp	doesn't fit	111.8 bp −$1,118	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	2.27 bp	13.4 bp −$13	23.1 bp −$231	doesn't fit	doesn't fit

NOK on 16 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 NOKUSDT	0.0000%	8h	11.024	+0.006%	$67K	$7K	20x	as long as short
Extended NOK-USD	0.0000%	1h	11.017	−0.053%	$37K	$168K	10x	as long as short
Binance NOKUSDT	0.0000%	8h	11.019	−0.036%	$7.5M	$9.0M	20x	as long as short
OKX NOK-USDT-SWAP	0.0000%	8h	11.021	−0.019%	$1.2M	$1.2M	20x	as long as short
Gate NOK_USDT	0.0000%	8h	11.030	+0.063%	$966K	$990K	50x	as long as short
MEXC NOKSTOCK_USDT	0.0000%	8h	11.020	−0.028%	$1.6M	$112K	50x	as long as short
Bitget NOKSTOCKUSDT	0.0000%	8h	11.028	+0.045%	$1.5M	$595K	20x	as long as short
Variational Omni NOKlong	0.0000%	8h	11.023	long leg	$137K	$113K	—
GRVT NOK_USDT_Perp	0.0000%	8h	11.020	−0.028%	$3K	$146K	10x	as long as short
SunX NOK-USDT	0.0000%	8h	11.020	−0.028%	$909	$1.4M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NOK-USDT	0.0000%	8h	11.000	−0.209%	$9K	$5K	10x	as long as short
Phemex NOKUSDT	0.0000%	8h	11.010	−0.119%	$1.6M	$544K	10x	as long as short
Lighter NOK	+0.0032%	1h	11.000	−0.209%	—	—	10x	as long as short
Vest NOK-PERP	+0.0046%	1h	11.010	−0.119%	—	—	10x	as long as short
tradeXYZ xyz:NOKshort	+0.0050%	1h	11.012	−0.100%	$4.2M	$1.1M	10x
KuCoin NOKUSDTM	+0.0100%	8h	11.020	−0.028%	$301K	$383K	20x	as long as short