Funding you earn now, next payment 00:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.022%
Price spread now: Variational Omni against GMX−0.012%7-day average −0.053% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.071%−$7 on $10k
+Price spread, last 3 days (all we have)−0.053%−$5 · spread now −0.012%, 7d avg −0.053%
=Together, before fees−0.124%+ Points / potential airdropVariational Omni: Active · farm board−$12 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.041% dearer against GMX than usual: you sell high and buy low (spread −0.012% now, against its 7-day average of −0.053%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 34 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX BTC/USD [WBTC.b-USDC] | 86,416.3 | L +0.0196% / S −0.0219% | pay 0.0024% / 1h | 26m 21s | $15.0M | — | 200x |
| Short | Variational Omni BTC | 86,405.8 | 0.0100 | get 0.0100% / 8h | 26m 21s | $157.3M | $568.1M | — |
GMX BTC/USD [WBTC.b-USDC]
Variational Omni BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against GMX. 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
- −$20.1
- Price spread: −0.012% → −0.053%
- $4.08
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$28.02
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 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 GMX no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 3 min ago | 0.50 bp | doesn't fit | 0.5 bp −$5 | 2.3 bp −$227 | doesn't fit |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0118% | 1h | 86,477 | +0.070% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,413 | −0.004% | $9K | $3K | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,568 | +0.176% | $333K | $26.8M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,420.6 | +0.005% | $8.3M | $42.8M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,420.5 | +0.005% | $359K | $2.5M | 50x | as long as short |
| Aster BTCUSDT | −0.0001% | 8h | 86,403.4 | −0.015% | $501.4M | $1.15B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,446.6 | +0.035% | $415K | $23.1M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,423.2 | +0.008% | $36.8M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0017% | 8h | 86,427.1 | +0.013% | $849.9M | $715.7M | 125x | as long as short |
| Deribit BTC-PERPETUAL | +0.0026% | 1h | 86,422.6 | +0.007% | $914.5M | $1.48B | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0031% | 1h | 86,401.1 | −0.018% | $6.7M | $145.5M | 40x | as long as short |
| BingX BTC-USDT | +0.0042% | 8h | 86,402 | −0.017% | — | $1.59B | — | as long as short |
| Bitget BTCUSDT | +0.0052% | 8h | 86,380.1 | −0.042% | $2.96B | $5.13B | 150x | as long as short |
| Phemex BTCUSDT | +0.0053% | 8h | 86,396.4 | −0.023% | $150.5M | $478.5M | 150x | as long as short |
| dYdX BTC-USD | +0.0066% | 1h | 86,448.3 | +0.037% | $16.9M | $21.2M | 50x | as long as short |
| Binance BTCUSDT | +0.0069% | 8h | 86,400.3 | −0.018% | $9.42B | $24.58B | 150x | as long as short |
| MEXC BTC_USDT | +0.0069% | 8h | 86,402.3 | −0.016% | $5.15B | $5.67B | 500x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 86,386.7 | −0.034% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0082% | 8h | 86,402.5 | −0.016% | $5.86B | $10.77B | 200x | as long as short |
| SoDEX BTC-USD | +0.0087% | 1h | 86,382 | −0.040% | $60.3M | $338.0M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,432.1 | +0.018% | $170.2M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,403.1 | −0.015% | $23.9M | $152.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,410 | −0.007% | $8.5M | $52.4M | 100x | as long as short |
| Bybit BTCUSDT | +0.0098% | 8h | 86,396.7 | −0.023% | $5.26B | $9.81B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,393 | −0.027% | $202K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,462 | +0.053% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,430.8 | +0.017% | $22.0M | $234.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,479 | +0.073% | $3.79B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,457.8 | +0.048% | $41.1M | $529.8M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,400.1 | −0.019% | $2.55B | $12.72B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,437 | +0.024% | $3.9M | $18.7M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,463.5 | +0.055% | $7.5M | $95.3M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,443.6 | +0.032% | $38.2M | $155.7M | 75x | as long as short |
| Variational Omni BTCshort | +0.0100% | 8h | 86,405.8 | −0.012% | $157.3M | $568.1M | — | |
| edgeX BTCUSDC | +0.0100% | 4h | 86,448.6 | +0.037% | $279.2M | $945.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,485.6 | +0.080% | $217.2M | $171.6M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,461.9 | +0.053% | $141.4M | $323.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,390.9 | −0.029% | $30.6M | $205.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,461.5 | +0.052% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,408 | −0.010% | $11.1M | $13.9M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,403.3 | −0.015% | $189K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,390.1 | −0.030% | $2.4M | $9.0M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,424 | +0.009% | $140K | $664K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,420 | +0.004% | $30.5M | $62.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,410.3 | −0.007% | $3.4M | $5.4M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,375.1 | −0.048% | $2.29B | $969.5M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,464.9 | +0.056% | $572.1M | $16.9M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,366.6 | −0.057% | $45.5M | $227.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,458 | +0.048% | — | $98.9M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,410.8 | −0.006% | $192.1M | $954.6M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,431.1 | +0.017% | $132.3M | $5.65B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0149% | 1h | 86,487.8 | +0.083% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 86,438.5 | +0.026% | $727K | $8.0M | 30x | as long as short |
| BloFin BTC-USDT | +0.0189% | 8h | 86,446 | +0.034% | $416.9M | $658.5M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC]long | L +0.0196% / S −0.0219% | 1h | 86,416.3 | long leg | $15.0M | — | 200x | |
| Kalshi KXBTCPERP | +0.0207% | 8h | 86,452 | +0.041% | $9.7M | $747.5M | 6.4x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDT
Bitget BTCUSDT
Phemex BTCUSDT
dYdX BTC-USD
Binance BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
Gate BTC_USDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Bybit BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
BloFin BTC-USDT
Kalshi KXBTCPERP