Funding you earn now, next payment 08:00 UTC−0.0051%/8h= −5.6% APRnext payment −$0.51 per $10,000 · paid last 24h −0.025%
Price spread now: Variational Omni against Bybit−0.220%7-day average +0.015% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.045%−$4 on $10k
+Price spread, last 4 days (all we have)+0.600%+$60 · spread now −0.220%, 7d avg +0.015%
=Together, before fees+0.556%+ Points / potential airdropVariational Omni: Active · farm board+$56 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.235% cheaper against Bybit than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.015%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit OPUSDT | 0.1270 | 0.0100 | pay 0.0100% / 8h | 5h 32m | $18.5M | $25.3M | 75x |
| Short | Variational Omni OP | 0.1267 | 0.0049 | get 0.0049% / 8h | 5h 32m | $224K | $50K | — |
Bybit OPUSDT
Variational Omni OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.67
- Price spread: −0.220% → +0.015%
- −$23.5
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$45.17
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 2 min ago; Variational Omni: RFQ quote, 32 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 Bybit live order book, 2 min ago | 0.39 bp | 10.9 bp −$11 | 23.8 bp −$238 | 85.6 bp −$8,565 | doesn't fit |
| Sell Variational Omni RFQ quote, 32 min ago | 7.92 bp | doesn't fit | 23.8 bp −$238 | doesn't fit | doesn't fit |
OP on 30 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective OP/USDC PERP | −0.1488% | 1h | 0.1262 | −0.606% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1270 | +0.009% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1270 | +0.004% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1269 | −0.055% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1270 | −0.013% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0033% | 8h | 0.1269 | −0.055% | $6.1M | $29.1M | 50x | as long as short |
| Variational Omni OPshort | +0.0049% | 8h | 0.1267 | −0.220% | $224K | $50K | — | |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1269 | −0.055% | $6K | $45K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1270 | +0.008% | $282K | $934K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1271 | +0.071% | $3.7M | $3.0M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
OKX OP-USDT-SWAP
Orderly PERP_OP_USDC
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1270 | +0.030% | $212K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1269 | −0.020% | $20.5M | $60.5M | 75x | as long as short |
| Bybit OPUSDTlong | +0.0100% | 8h | 0.1270 | long leg | $18.5M | $25.3M | 75x | |
| Gate OP_USDT | +0.0100% | 8h | 0.1269 | −0.039% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1269 | −0.047% | $20.9M | $7.0M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1268 | −0.134% | $2.9M | $6.7M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1269 | −0.055% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1269 | −0.055% | — | $6.3M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1269 | −0.087% | $121K | $195K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1269 | −0.020% | $4K | $390K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1271 | +0.107% | $313K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1270 | +0.024% | $44K | $706K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1269 | −0.063% | $182 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1269 | −0.032% | $175K | $216K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1268 | −0.109% | $106K | $394K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1269 | −0.023% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0152% | 1h | 0.1265 | −0.370% | $24K | $70K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1271 | +0.079% | $1.0M | $272K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1268 | −0.109% | $705 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0488% | 1h | 0.1270 | +0.033% | $802K | $577K | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP
Kraken Futures PF_OPUSD