Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0500%/8h= −54.7% APRpaid last 24h −0.153%

Price spread now: Variational Omni against GMX+0.231%7-day average −0.069% · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.240%−$24 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now +0.231%, 7d avg −0.069%

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 0.300% dearer against GMX than usual: you sell high and buy low (spread +0.231% now, against its 7-day average of −0.069%): +$30 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 2.0 days. At the pace of the last 4 days (−0.240% in total) that is about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX FIL/USD [WBTC.b-USDC]	0.9878	L +0.0600% / S −0.0280%	pay 0.0075% / 1h	32m 02s	$264K	—	100x
Short	Variational Omni FIL	0.9901	0.0100	get 0.0100% / 8h	7h 32m	$441K	$279K	—

Funding 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

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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 GMXbpFee Variational OmnibpOrdersPrice spread, now +0.231%Rate

Funding earned: −$104.94
Price spread: +0.231% → −0.069%: $30
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$86.95
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: 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 GMX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 2 min ago	4.04 bp	doesn't fit	29.3 bp −$293	doesn't fit	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.

FIL on 29 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
Deribit FIL_USDC-PERPETUAL	−0.0154%	1h	0.9889	+0.111%	$170K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0056%	1h	0.9870	−0.082%	$351K	$2.2M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9879	+0.005%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9888	+0.103%	$57K	$596	10x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.234%	$2K	$240K	12x	as long as short
Bybit FILUSDT	+0.0056%	8h	0.9887	+0.090%	$15.3M	$20.3M	25x	as long as short
KuCoin FILUSDTM	+0.0087%	8h	0.9885	+0.070%	$7.0M	$7.8M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9881	+0.028%	$144K	$345K	5x	as long as short
Kraken Futures PF_FILUSD	+0.0098%	1h	0.9888	+0.104%	$1.4M	$2.1M	50x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9891	+0.136%	$8.3M	$9.4M	5x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster FILUSDT	+0.0100%	8h	0.9891	+0.127%	$504K	$552K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	0.9890	+0.121%	$56.2M	$183.3M	75x	as long as short
OKX FIL-USDT-SWAP	+0.0100%	8h	0.9887	+0.090%	$17.7M	$105.7M	50x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9884	+0.060%	$8.4M	$16.3M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9874	−0.041%	$229K	$99K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9884	+0.060%	$11.2M	$19.4M	75x	as long as short
BingX FIL-USDT	+0.0100%	8h	0.9885	+0.070%	—	$11.7M	—	as long as short
Variational Omni FILshort	+0.0100%	8h	0.9901	+0.231%	$441K	$279K	—
edgeX FILUSDC	+0.0100%	4h	0.9905	+0.268%	$45K	$296K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9904	+0.261%	$297K	$1.5M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9920	+0.424%	$23K	$182K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9889	+0.109%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9880	+0.020%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9884	+0.060%	$479	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9886	+0.080%	$620K	$5.5M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9880	+0.020%	$1.2M	$2.6M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9875	−0.029%	$697K	$4.2M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9875	−0.031%	$2.6M	$646K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]long	L +0.0600% / S −0.0280%	1h	0.9878	long leg	$264K	—	100x