Funding you earn now, next payment 00:00 UTC+0.0069%/8h= +7.6% APRnext payment +$0.69 per $10,000 · paid last 24h +0.016%
Price spread now: Variational Omni against Phemex+0.124%7-day average −0.010% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.033%+$3 on $10k
+Price spread, last 3 days (all we have)−0.073%−$7 · spread now +0.124%, 7d avg −0.010%
=Together, before fees−0.040%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Variational Omni is 0.134% dearer against Phemex than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.010%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex BTCUSDT | 86,565.4 | 0.0031 | pay 0.0031% / 8h | 2h 06m | $149.7M | $471.9M | 150x |
| Short | Variational Omni BTC | 86,672.4 | 0.0100 | get 0.0100% / 8h | 2h 06m | $160.1M | $567.0M | — |
Phemex BTCUSDT
Variational Omni BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Phemex. 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
- $14.51
- Price spread: +0.124% → −0.010%
- $13.38
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- $15.89
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Phemex: live order book, 3 min ago; 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 Phemex live order book, 3 min ago | 0.01 bp | 6.0 bp −$6 | 6.0 bp −$60 | 7.1 bp −$714 | doesn't fit |
| Sell Variational Omni RFQ quote, 3 min ago | 0.65 bp | doesn't fit | 0.7 bp −$7 | 2.8 bp −$281 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0252% | 1h | 86,648.9 | +0.096% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,570.3 | +0.006% | $425K | $24.6M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,670 | +0.121% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,552 | −0.015% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0063% | 1h | 86,591.4 | +0.030% | $17.6M | $20.6M | 50x | as long as short |
| Aster BTCUSDT | −0.0001% | 8h | 86,553.5 | −0.014% | $505.3M | $1.16B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,576.8 | +0.013% | $360K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,589.8 | +0.028% | $927.6M | $1.47B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,583.3 | +0.021% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0005% | 8h | 86,542.2 | −0.027% | $847.5M | $708.7M | 125x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
Aster BTCUSDT
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,541.5 | −0.028% | $6.7M | $144.5M | 40x | as long as short |
| BingX BTC-USDC | +0.0029% | 8h | 86,548.2 | −0.020% | — | $15.4M | — | as long as short |
| Phemex BTCUSDTlong | +0.0031% | 8h | 86,565.4 | long leg | $149.7M | $471.9M | 150x | |
| Bitget BTCUSDT | +0.0036% | 8h | 86,547.9 | −0.020% | $2.95B | $5.09B | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,770 | +0.236% | $316K | $26.8M | 52x | as long as short |
| Aevo BTC-PERP | +0.0056% | 1h | 86,552.7 | −0.015% | $2.4M | $1.3M | 20x | as long as short |
| MEXC BTC_USDT | +0.0058% | 8h | 86,552.4 | −0.015% | $5.19B | $5.72B | 500x | as long as short |
| Binance BTCUSDT | +0.0059% | 8h | 86,555 | −0.012% | $9.42B | $24.38B | 150x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,573.7 | +0.010% | $8.9M | $42.6M | 25x | as long as short |
| Gate BTC_USDT | +0.0080% | 8h | 86,559 | −0.007% | $5.84B | $10.71B | 200x | as long as short |
| Bybit BTCUSDT | +0.0083% | 8h | 86,571.4 | +0.007% | $5.26B | $9.74B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0095% | 8h | 86,576.1 | +0.012% | $2.55B | $12.73B | 100x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,564.6 | −0.001% | $172.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,575.8 | +0.012% | $24.1M | $154.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,550 | −0.018% | $8.5M | $52.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,541 | −0.028% | $201K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,599.3 | +0.039% | $4.8M | $8.3M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,554 | −0.013% | $21.7M | $234.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,627 | +0.071% | $3.81B | $5.11B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,593.7 | +0.033% | $40.9M | $498.0M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,551 | −0.017% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,627.7 | +0.072% | $7.4M | $94.9M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,682.4 | +0.135% | $572.6M | $21.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,547.2 | −0.021% | $38.4M | $150.5M | 75x | as long as short |
| Variational Omni BTCshort | +0.0100% | 8h | 86,672.4 | +0.124% | $160.1M | $567.0M | — | |
| edgeX BTCUSDC | +0.0100% | 4h | 86,621.5 | +0.065% | $279.7M | $941.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,613.4 | +0.055% | $217.6M | $186.6M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,617.4 | +0.060% | $141.4M | $322.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,649 | +0.097% | $30.7M | $203.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,612.7 | +0.055% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,560 | −0.006% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,554.6 | −0.013% | $191K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,570.8 | +0.006% | $2.4M | $8.6M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,587.5 | +0.026% | $140K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,562.8 | −0.003% | $30.0M | $61.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,556.9 | −0.010% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,550 | −0.018% | $60.5M | $336.7M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,556.9 | −0.010% | $2.30B | $960.5M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,539.2 | −0.030% | $46.4M | $226.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,579.9 | +0.017% | — | $98.8M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0117% | 1h | 86,573.8 | +0.010% | $187.3M | $934.3M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,608.5 | +0.050% | $131.6M | $5.83B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0171% | 8h | 86,634 | +0.079% | $9.5M | $727.8M | 6.4x | as long as short |
| BloFin BTC-USDT | +0.0179% | 8h | 86,552.7 | −0.015% | $416.4M | $655.5M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0209% | 1h | 86,578.1 | +0.015% | $15.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 86,620.2 | +0.063% | $778K | $7.9M | 30x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDC
Bitget BTCUSDT
Injective BTC/USDC PERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
RISEx BTC/USDC
Gate BTC_USDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk 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
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Kalshi KXBTCPERP
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P