Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.064%

Price spread now: Lighter against Variational Omni+0.109%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

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 airdropVariational Omni: Active · Lighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.109% dearer against Variational Omni than usual: you sell high and buy low, +$11 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	Variational Omni NOT	0.0004877	0.0100	pay 0.0050% / 4h	50m 02s	$69K	$28K	—
Short	Lighter 1000NOT	0.0004882	0.0096	get 0.0012% / 1h	50m 02s	$11K	$6K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.109%Rate

Funding earned: −$0.84
Price spread: +0.109% → 0.000%: $10.85
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $10.01
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Lighter: no order-book sample. 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Lighter no order-book sample	—	—	—	—	—

Variational Omni and 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.

NOT on 16 exchanges

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
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−0.056%	$1K	$13K	5.5x	as long as short
Lighter 1000NOTshort	+0.0096%	1h	0.0004882	+0.109%	$11K	$6K	3x
Hyperliquid NOT	+0.0100%	1h	0.0004880	+0.068%	$321K	$74K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0004875	−0.035%	$13K	$4K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0004877	+0.004%	$2.0M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0004873	−0.076%	$2.1M	$844K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0004873	−0.076%	$632K	$724K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0004876	−0.015%	$140K	$62K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0004874	−0.056%	$1.3M	$470K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0004878	+0.026%	$500K	$148K	50x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NOTUSDT	+0.0100%	4h	0.0004882	+0.109%	$640K	$552K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0004874	−0.056%	—	$8.3M	—	as long as short
Variational Omni NOTlong	+0.0100%	4h	0.0004877	long leg	$69K	$28K	—
Extended kNOT-USD	+0.0104%	1h	0.0004876	−0.023%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0106%	4h	0.0004883	+0.129%	$108K	$17K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.2677%	1h	0.0004878	+0.031%	$47K	$8K	10x	as long as short