Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0207%/8hnext payment −$2.07 per $10,000 · paid last 24h −0.016%

Price spread now: Variational Omni against SunX+0.108%7-day average −0.062% · you sell dearer than you buy

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

Long on SunX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.016%−$2 on $10k

Price spread, last 3 days (all we have)−0.123%−$12 · spread now +0.108%, 7d avg −0.062%

Together, before fees−0.139%+ Points / potential airdropVariational Omni: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.170% dearer against SunX than usual: you sell high and buy low (spread +0.108% now, against its 7-day average of −0.062%): +$17 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 3 days (−0.016% in total) that is about 35 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.016% in total (about -1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.07 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX FIL-USDT	0.9650	0.0100	pay 0.0100% / 8h	4h 05m	$3K	$1.1M	20x
Short	Variational Omni FIL	0.9660	−0.0107	pay 0.0107% / 8h	4h 05m	$424K	$271K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against SunX. 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 SunXbpFee Variational OmnibpOrdersPrice spread, now +0.108%Rate

Funding earned: −$43.54
Price spread: +0.108% → −0.062%: $17.02
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$34.53
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 2 min ago; Variational Omni: RFQ quote, 27 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 SunX live order book, 2 min ago	36.21 bp	101.9 bp −$102	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 27 min ago	3.65 bp	doesn't fit	36.0 bp −$360	doesn't fit	doesn't fit

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
Coinbase International FIL-PERP-INTX	−0.0400%	1h	0.9659	+0.093%	$320K	$2.0M	50x	as long as short
Deribit FIL_USDC-PERPETUAL	−0.0371%	1h	0.9655	+0.052%	$166K	$22K	25x	as long as short
Bybit FILUSDT	−0.0170%	8h	0.9636	−0.145%	$15.6M	$16.9M	25x	as long as short
Variational Omni FILshort	−0.0107%	8h	0.9660	+0.108%	$424K	$271K	—
Injective FIL/USDC PERP	−0.0066%	1h	0.9658	+0.083%	$2K	$145K	12x	as long as short
Lighter FIL	−0.0016%	1h	0.9633	−0.174%	$160K	$352K	5x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9653	+0.034%	$24K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9647	−0.031%	$56K	$2K	10x	as long as short
OKX FIL-USDT-SWAP	+0.0012%	8h	0.9636	−0.145%	$17.6M	$97.7M	50x	as long as short
Bitget FILUSDT	+0.0024%	8h	0.9634	−0.166%	$10.7M	$22.9M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin FILUSDTM	+0.0060%	8h	0.9641	−0.093%	$7.2M	$7.4M	50x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9639	−0.117%	$8.5M	$9.3M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9642	−0.082%	$476K	$549K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	0.9638	−0.120%	$55.2M	$178.7M	75x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9641	−0.093%	$7.7M	$16.9M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9640	−0.104%	$246K	$106K	50x	as long as short
BingX FIL-USDC	+0.0100%	8h	0.9638	−0.124%	—	$6.5M	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9660	+0.099%	$45K	$292K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9658	+0.081%	$290K	$745K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9660	+0.104%	$43K	$196K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9660	+0.099%	$4K	—	10x	as long as short
SunX FIL-USDTlong	+0.0100%	8h	0.9650	long leg	$3K	$1.1M	20x
SoDEX FIL-USD	+0.0100%	1h	0.9646	−0.041%	$459	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9662	+0.124%	$605K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9650	0.000%	$1.0M	$2.2M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9639	−0.113%	$675K	$2.4M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9657	+0.073%	$2.6M	$574K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0557% / S −0.0538%	1h	0.9652	+0.020%	$142K	—	100x	as long as short
Kraken Futures PF_FILUSD	+0.0602%	1h	0.9656	+0.065%	$1.5M	$2.2M	50x	as long as short