Funding arb · Price arb /

QCOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0194%/8h= +21.3% APRpaid last 24h +0.038%

Price spread now: Phoenix against Variational Omni+0.019%54s7-day average +0.026% · you sell dearer than you buy

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

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.071%+$7 on $10k

Price spread, last 4 days (all we have)−0.339%−$34 · spread now +0.019%, 7d avg +0.026%

Together, before fees−0.268%+ Points / potential airdropVariational Omni: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.026%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni QCOM	196.25	0.0132	pay 0.0132% / 8h	5h 54m	$322K	$74K	—
Short	Phoenix QCOM	196.29	0.0326	get 0.0041% / 1h	54m 29s	$98K	$239K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.019%Rate

Funding earned: $40.83
Price spread: +0.019% → +0.026%: −$0.74
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $33.09
Costs to cover: 0.070%
Break-even: 1.3 days

Slippage unknown: Variational Omni: RFQ quote, 10 min ago; Phoenix: 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, 10 min ago	3.47 bp	doesn't fit	40.7 bp −$407	doesn't fit	doesn't fit
Sell Phoenix live order book, 5 min ago	7.64 bp	21.5 bp −$22	47.6 bp −$476	doesn't fit	doesn't fit

QCOM on 20 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 QCOMUSDT	0.0000%	8h	196.18	−0.036%	$18K	$11K	20x	as long as short
Bybit QCOMUSDT	0.0000%	8h	196.21	−0.022%	$2.5M	$1.8M	25x	as long as short
OKX QCOM-USDT-SWAP	0.0000%	8h	196.33	+0.039%	$1.8M	$3.7M	20x	as long as short
Gate QCOM_USDT	0.0000%	8h	196.34	+0.045%	$4.5M	$3.3M	50x	as long as short
Bitget QCOMUSDT	0.0000%	8h	196.24	−0.006%	$1.3M	$1.1M	20x	as long as short
GRVT QCOM_USDT_Perp	0.0000%	8h	196.19	−0.034%	$6K	$192K	10x	as long as short
SunX QCOM-USDT	0.0000%	8h	196.20	−0.027%	$859	$4.6M	10x	as long as short
HTX QCOM-USDT	0.0000%	8h	196.24	−0.006%	$10K	$10K	20x	as long as short
Phemex QCOMUSDT	0.0000%	8h	196.31	+0.029%	$1.6M	$993K	10x	as long as short
Lighter QCOM	+0.0032%	1h	196.05	−0.103%	—	—	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX QCOM-USD	+0.0062%	1h	196.24	−0.006%	$1.2M	$3.3M	10x	as long as short
KuCoin QCOMUSDTM	+0.0100%	8h	196.00	−0.129%	$319K	$543K	20x	as long as short
Variational Omni QCOMlong	+0.0132%	8h	196.25	long leg	$322K	$74K	—
Extended QCOM-USD	+0.0184%	1h	196.25	−0.001%	$107K	$412K	10x	as long as short
Binance QCOMUSDT	+0.0184%	8h	196.31	+0.029%	$11.2M	$23.3M	20x	as long as short
Injective QCOM/USDC PERP	+0.0220%	1h	215.49	+9.802%	$26K	$25K	12x	as long as short
Phoenix QCOMshort	+0.0326%	1h	196.29	+0.019%	$98K	$239K	10x
Polymarket Perps QCOM-USD	+0.0350%	1h	196.33	+0.039%	$83K	$895K	10x	as long as short
tradeXYZ xyz:QCOM	+0.0580%	1h	196.35	+0.050%	$7.4M	$2.3M	10x	as long as short
edgeX QCOMUSDC	+0.0940%	4h	196.16	−0.047%	$81K	$269K	10x	as long as short