Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.010%

Price spread now: Arcus against Variational Omni−0.119%7-day average −0.142% · you buy dearer than you sell

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

Long on Variational Omni Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.119%, 7d avg −0.142%

Together, before fees+0.013%+ Points / potential airdropVariational Omni: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Arcus is 0.023% dearer against Variational Omni than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.142%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni QQQ	741.86	0	get 0.0000% / 8h	2h 25m	$16.9M	$7.3M	—
Short	Arcus QQQ-USD	740.98	0.0040	get 0.0005% / 1h	25m 53s	$689K	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.119%Rate

Funding earned: $8.46
Price spread: −0.119% → −0.142%: $2.32
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $6.28
Costs to cover: 0.045%
Break-even: 1.8 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Arcus: live order book, 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 Variational Omni RFQ quote, 3 min ago	1.89 bp	doesn't fit	2.4 bp −$24	doesn't fit	doesn't fit
Sell Arcus live order book, 3 min ago	0.07 bp	6.6 bp −$7	11.7 bp −$117	doesn't fit	doesn't fit

QQQ on 28 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
GMX QQQ/USD [ETH-USDC]	L −0.0149% / S +0.0243%	1h	742.01	+0.021%	$25K	—	26x	as long as short
BloFin QQQ-USDT	−0.0019%	8h	741.68	−0.025%	$1.1M	$267K	20x	as long as short
Aster QQQUSDT	0.0000%	8h	742.02	+0.021%	$823K	$857K	20x	as long as short
Binance QQQUSDT	0.0000%	8h	742.07	+0.027%	$69.9M	$143.9M	25x	as long as short
Bybit QQQUSDT	0.0000%	8h	741.88	+0.002%	$10.6M	$5.1M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	741.80	−0.008%	$21.6M	$28.0M	50x	as long as short
RISEx QQQ/USDC	0.0000%	1h	741.89	+0.003%	$5.4M	$7.0M	25x	as long as short
Gate QQQ_USDT	0.0000%	8h	741.30	−0.076%	$3.3M	$21.3M	50x	as long as short
Bitget QQQUSDT	0.0000%	8h	742.08	+0.029%	$16.6M	$5.7M	20x	as long as short
Variational Omni QQQlong	0.0000%	8h	741.86	long leg	$16.9M	$7.3M	—

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX QQQ-USDT	0.0000%	8h	742.50	+0.086%	$2K	$1.8M	10x	as long as short
Coinbase International QQQ-PERP-INTX	0.0000%	1h	741.54	−0.043%	$1.2M	$539K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	742.18	+0.043%	$250K	$41K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	742.24	+0.051%	$361K	$1.6M	10x	as long as short
Lighter QQQ	+0.0032%	1h	741.79	−0.010%	$7.7M	$15.6M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	742.21	+0.047%	$36.8M	$79.9M	50x	as long as short
Ondo Perps QQQ-USD.P	+0.0033%	1h	740.81	−0.142%	$4.2M	$1.8M	20x	as long as short
Arcus QQQ-USDshort	+0.0040%	1h	740.98	−0.119%	$689K	$1.6M	25x
Vest QQQ-USD-PERP	+0.0046%	1h	742.95	+0.147%	—	$337K	50x	as long as short
GRVT QQQ_USDT_Perp	+0.0082%	8h	742.19	+0.045%	$320K	$2.0M	10x	as long as short
KuCoin QQQUSDTM	+0.0100%	8h	741.70	−0.022%	$3.4M	$356K	20x	as long as short
ApeX Omni QQQUSDT	+0.0100%	1h	741.65	−0.029%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	741.68	−0.025%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	741.15	−0.096%	$92K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0125%	1h	741.58	−0.038%	$1.5M	$765K	20x	as long as short
Phoenix QQQ	+0.0129%	1h	741.77	−0.012%	$38K	$66K	20x	as long as short
Deribit QQQ_USDC-PERPETUAL	+0.0182%	1h	741.75	−0.015%	$424K	$152K	20x	as long as short
edgeX QQQUSDC	+0.0286%	4h	742.09	+0.030%	$759K	$336K	20x	as long as short