Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Variational Omni against Lighter+0.087%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.087% dearer against Lighter than usual: you sell high and buy low, +$9 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter EDGE	0.5939	0.0096	pay 0.0012% / 1h	52m 02s	$43K	$19K	3x
Short	Variational Omni EDGE	0.5944	0.0100	get 0.0050% / 4h	3h 52m	$189K	$136K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. 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 LighterbpFee Variational OmnibpOrdersPrice spread, now +0.087%Rate

Funding earned: $0.84
Price spread: +0.087% → 0.000%: $8.69
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $9.53
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; Variational Omni: RFQ quote, 2 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 Lighter no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 2 min ago	5.04 bp	doesn't fit	326.0 bp −$3,260	doesn't fit	doesn't fit

Lighter: 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.

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 EDGElong	+0.0096%	1h	0.5939	long leg	$43K	$19K	3x
Bybit EDGEUSDT	+0.0100%	4h	0.5936	−0.056%	$7.1M	$3.4M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5951	+0.197%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5949	+0.163%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5946	+0.116%	$58K	$110K	3.3x	as long as short
Variational Omni EDGEshort	+0.0100%	4h	0.5944	+0.087%	$189K	$136K	—
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5966	+0.450%	$9K	$305K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5915	−0.409%	$4K	$625K	10x	as long as short
GRVT EDGE_USDT_Perp	+0.0148%	4h	0.5965	+0.437%	$8K	$2.5M	10x	as long as short
Aster EDGEUSDT	+0.0463%	4h	0.5956	+0.279%	$58K	$152K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EDGE-USD	+0.0472%	1h	0.5941	+0.034%	$27K	$198K	5x	as long as short
MEXC EDGE_USDT	+0.0472%	4h	0.5946	+0.113%	$1.1M	$863K	50x	as long as short
Binance EDGEUSDT	+0.0474%	4h	0.5948	+0.145%	$10.2M	$10.5M	50x	as long as short
BloFin EDGE-USDT	+0.0480%	4h	0.5973	+0.567%	$660K	$103K	50x	as long as short
edgeX EDGEUSDC	+0.0489%	4h	0.5963	+0.391%	$14.3M	$3.6M	30x	as long as short
OKX EDGE-USDT-SWAP	+0.0528%	4h	0.5950	+0.180%	$3.7M	$5.8M	20x	as long as short
Orderly PERP_EDGE_USDC	+0.0568%	4h	0.5949	+0.163%	$3K	$359	10x	as long as short