Funding arb · Price arb /

EIGEN

all EIGEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.042%

Price spread now: Variational Omni against Injective−0.178%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.178% cheaper against Injective than usual: you would sell low and buy high (spread −0.178% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 8.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective EIGEN/USDC PERP	0.2438	0.0033	pay 0.0004% / 1h	51m 16s	$6	$6	5.5x
Short	Variational Omni EIGEN	0.2434	0.0100	get 0.0050% / 4h	51m 16s	$202K	$127K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Injective. 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 InjectivebpFee Variational OmnibpOrdersPrice spread, now −0.178%Rate

Funding earned: $14
Price spread: −0.178% → 0.000%: −$17.75
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$3.77
Costs to cover: 0.000%
Break-even: 8.9 days

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 28 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 Injective no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 28 min ago	6.23 bp	doesn't fit	47.7 bp −$477	doesn't fit	doesn't fit

Injective: 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.

EIGEN on 26 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
01 Exchange EIGENUSD	−0.0072%	1h	0.2444	+0.246%	$829	$5K	10x	as long as short
Kraken Futures PF_EIGENUSD	−0.0016%	1h	0.2446	+0.339%	$176K	$68K	20x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2443	+0.189%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2444	+0.230%	—	$86	10x	as long as short
Injective EIGEN/USDC PERPlong	+0.0033%	1h	0.2438	long leg	$6	$6	5.5x
Nado EIGEN-PERP	+0.0100%	1h	0.2445	+0.287%	$31K	$17K	3x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2444	+0.265%	$45K	$29K	5x	as long as short
Binance EIGENUSDT	+0.0100%	4h	0.2443	+0.217%	$8.3M	$20.0M	75x	as long as short
Bybit EIGENUSDT	+0.0100%	4h	0.2443	+0.205%	$9.7M	$7.7M	50x	as long as short
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2443	+0.205%	$1.6M	$5.0M	20x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate EIGEN_USDT	+0.0100%	4h	0.2443	+0.205%	$734K	$636K	50x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2443	+0.205%	$8.7M	$2.3M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2444	+0.246%	$2.4M	$10.6M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2443	+0.205%	$1.9M	$1.3M	75x	as long as short
BingX EIGEN-USDC	+0.0100%	4h	0.2444	+0.246%	—	$6.5M	—	as long as short
Variational Omni EIGENshort	+0.0100%	4h	0.2434	−0.178%	$202K	$127K	—
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2440	+0.082%	$190K	$2.2M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2444	+0.246%	$36K	$236K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2444	+0.246%	$2K	$1K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2444	+0.235%	$92K	$496K	10x	as long as short
BloFin EIGEN-USDT	+0.0119%	4h	0.2441	+0.123%	$349K	$135K	75x	as long as short
Coinbase International EIGEN-PERP-INTX	+0.0160%	1h	0.2443	+0.201%	$42K	$161K	50x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0195% / S −0.0568%	1h	0.2444	+0.236%	$2K	—	100x	as long as short
Hyperliquid EIGEN	+0.0435%	1h	0.2451	+0.533%	$4.8M	$1.6M	5x	as long as short
Reya EIGENRUSDPERP	+0.0513%	1h	0.2443	+0.218%	$853	—	15x	as long as short
Lighter EIGEN	+0.0816%	1h	0.2450	+0.472%	$564K	$443K	5x	as long as short