Funding you earn now, next payment 04:00 UTC−0.0709%/8h= −77.6% APRpaid last 24h −0.142%
Price spread now: Variational Omni against Backpack−0.208%7-day average −0.805% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.192%−$19 on $10k
+Price spread, last 7 days−1.655%−$165 · spread now −0.208%, 7d avg −0.805%
=Together, before fees−1.847%+ Points / potential airdropVariational Omni: Active · farm board−$185 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.597% dearer against Backpack than usual: you sell high and buy low (spread −0.208% now, against its 7-day average of −0.805%): +$60 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 2.8 days. At the pace of the last 4 days (−0.192% in total) that is about 11 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.192% in total (about -20.0% 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 | Backpack ARB_USDC_PERP | 0.2205 | 0.0613 | pay 0.0077% / 1h | 59m 53s | $993K | $2.8M | 20x |
| Short | Variational Omni ARB | 0.2201 | −0.0095 | pay 0.0095% / 8h | 3h 59m | $1.8M | $2.9M | — |
Backpack ARB_USDC_PERP
Variational Omni ARBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$148.84
- Price spread: −0.208% → −0.805%
- $59.73
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$99.11
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: live order book, 4 min ago; Variational Omni: RFQ quote, 4 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 Backpack live order book, 4 min ago | 0.91 bp | 9.7 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 4 min ago | 6.83 bp | doesn't fit | 29.6 bp −$296 | doesn't fit | doesn't fit |
ARB on 36 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ARB/USDC PERP | −0.1649% | 1h | 0.2189 | −0.739% | $39K | $372K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0168% | 1h | 0.2203 | −0.082% | $7K | $2K | 10x | as long as short |
| Polymarket Perps ARB-USD | −0.0152% | 1h | 0.2203 | −0.118% | $86K | $2.1M | 10x | as long as short |
| OKX ARB-USDT-SWAP | −0.0115% | 8h | 0.2202 | −0.172% | $22.2M | $144.8M | 50x | as long as short |
| MEXC ARB_USDT | −0.0114% | 8h | 0.2202 | −0.141% | $42.7M | $61.1M | 200x | as long as short |
| Variational Omni ARBshort | −0.0095% | 8h | 0.2201 | −0.208% | $1.8M | $2.9M | — | |
| Orderly PERP_ARB_USDC | −0.0075% | 8h | 0.2204 | −0.059% | $12K | $402K | 10x | as long as short |
| Gate ARB_USDT | −0.0041% | 8h | 0.2203 | −0.118% | $5.3M | $18.9M | 60x | as long as short |
| Bybit ARBUSDT | −0.0039% | 8h | 0.2202 | −0.168% | $55.4M | $124.4M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0006% | 1h | 0.2204 | −0.072% | $1.1M | $4.4M | 50x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Polymarket Perps ARB-USD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Orderly PERP_ARB_USDC
Gate ARB_USDT
Bybit ARBUSDT
Kraken Futures PF_ARBUSDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ARB-USD | 0.0000% | 1h | 0.2205 | −0.015% | $65K | $5K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2204 | −0.063% | $24K | $34K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0006% | 1h | 0.2204 | −0.039% | $32K | — | 150x | as long as short |
| Extended ARB-USD | +0.0016% | 1h | 0.2201 | −0.201% | $350K | $2.5M | 25x | as long as short |
| Binance ARBUSDT | +0.0020% | 8h | 0.2203 | −0.118% | $64.0M | $301.4M | 75x | as long as short |
| SoDEX ARB-USD | +0.0028% | 1h | 0.2203 | −0.127% | $10K | $2.2M | 5x | as long as short |
| Bitget ARBUSDT | +0.0061% | 8h | 0.2201 | −0.195% | $20.9M | $34.1M | 50x | as long as short |
| BingX ARB-USDT | +0.0061% | 8h | 0.2203 | −0.100% | — | $53.7M | — | as long as short |
| BloFin ARB-USDT | +0.0071% | 8h | 0.2202 | −0.141% | $3.1M | $2.6M | 75x | as long as short |
| Aevo ARB-PERP | +0.0088% | 1h | 0.2204 | −0.075% | $140K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2203 | −0.109% | $1.2M | $5.8M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2204 | −0.068% | $37.8M | $48.4M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2202 | −0.148% | $634K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2205 | −0.030% | $42K | $168K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2202 | −0.154% | $19.6M | $14.8M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2200 | −0.227% | $38K | $464K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2202 | −0.149% | $468K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2202 | −0.150% | $119K | $283K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2206 | +0.032% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2203 | −0.095% | $299K | $908K | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2203 | −0.104% | $5.0M | $13.0M | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0224% | 1h | 0.2209 | +0.150% | $493K | $1.8M | 50x | as long as short |
| RISEx ARB/USDC | +0.0225% | 1h | 0.2204 | −0.066% | $478K | $2.6M | 10x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0276% / S −0.0158% | 1h | 0.2204 | −0.063% | $832K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0289% | 1h | 0.2202 | −0.132% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0613% | 1h | 0.2205 | long leg | $993K | $2.8M | 20x |
dYdX ARB-USD
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Extended ARB-USD
Binance ARBUSDT
SoDEX ARB-USD
Bitget ARBUSDT
BingX ARB-USDT
BloFin ARB-USDT
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
Coinbase International ARB-PERP-INTX
RISEx ARB/USDC
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP