Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Bybit+1.247%7-day average +0.041% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−1.193%−$119 · spread now +1.247%, 7d avg +0.041%

Together, before fees−1.193%+ Points / potential airdropVariational Omni: Active · farm board−$119 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 1.206% dearer against Bybit than usual: you sell high and buy low, +$121 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EDGEUSDT	0.5800	0.0100	pay 0.0050% / 4h	1h 30m	$6.9M	$3.3M	25x
Short	Variational Omni EDGE	0.5872	0.0100	get 0.0050% / 4h	1h 30m	$192K	$130K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +1.247%Rate

Funding earned: $0
Price spread: +1.247% → +0.041%: $120.61
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $109.61
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 2 min ago; Variational Omni: RFQ quote, 53 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 Bybit live order book, 2 min ago	1.72 bp	86.6 bp −$87	426.6 bp −$4,266	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 53 min ago	9.38 bp	doesn't fit	301.1 bp −$3,011	doesn't fit	doesn't fit

EDGE on 17 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
Lighter EDGE	+0.0096%	1h	0.5794	−0.107%	$54K	$8K	3x	as long as short
Bybit EDGEUSDTlong	+0.0100%	4h	0.5800	long leg	$6.9M	$3.3M	25x
Bitget EDGEUSDT	+0.0100%	4h	0.5812	+0.207%	$4.6M	$995K	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5807	+0.124%	$59K	$100K	3.3x	as long as short
Variational Omni EDGEshort	+0.0100%	4h	0.5872	+1.247%	$192K	$130K	—
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5850	+0.866%	$2K	$1.8M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5828	+0.483%	$8K	$294K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5776	−0.414%	$4K	$608K	10x	as long as short
KuCoin EDGEUSDTM	+0.0194%	4h	0.5812	+0.207%	$2.1M	$2.3M	50x	as long as short
BloFin EDGE-USDT	+0.0410%	4h	0.5823	+0.397%	$633K	$124K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance EDGEUSDT	+0.0442%	4h	0.5811	+0.190%	$9.9M	$10.1M	50x	as long as short
Aster EDGEUSDT	+0.0445%	4h	0.5812	+0.199%	$67K	$136K	5x	as long as short
Extended EDGE-USD	+0.0448%	1h	0.5806	+0.103%	$26K	$230K	5x	as long as short
MEXC EDGE_USDT	+0.0450%	4h	0.5812	+0.207%	$1.1M	$919K	50x	as long as short
OKX EDGE-USDT-SWAP	+0.0487%	4h	0.5808	+0.138%	$3.6M	$5.7M	20x	as long as short
edgeX EDGEUSDC	+0.0508%	4h	0.5842	+0.727%	$14.0M	$3.4M	30x	as long as short
Orderly PERP_EDGE_USDC	+0.0530%	4h	0.5812	+0.207%	$3K	—	10x	as long as short