Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0040%/8h= +4.3% APRpaid last 24h +0.033%

Price spread now: edgeX against Variational Omni−0.436%59s7-day average +0.002% · you buy dearer than you sell

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

Long on Variational Omni Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)+0.457%+$46 · spread now −0.436%, 7d avg +0.002%

Together, before fees+0.509%+ Points / potential airdropVariational Omni: Active · edgeX: Active · farm board+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.438% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.436% now, against its 7-day average of +0.002%). If the spread goes back, that is −$44 on $10k: about 37 days of funding at the current rate (+$1 a day). The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni OP	0.1279	0.0060	pay 0.0060% / 8h	3h 50m	$226K	$48K	—
Short	edgeX OPUSDC	0.1273	0.0100	get 0.0050% / 4h	3h 50m	$4K	$388K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Variational Omni. 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 Variational OmnibpFee edgeXbpOrdersPrice spread, now −0.436%Rate

Funding earned: $8.32
Price spread: −0.436% → +0.002%: −$43.82
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$44.5
Costs to cover: 0.090%
Break-even: 44.4 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; edgeX: live order book, 3 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 Variational Omni RFQ quote, 3 min ago	7.86 bp	doesn't fit	31.4 bp −$314	doesn't fit	doesn't fit
Sell edgeX live order book, 3 min ago	7.84 bp	18.5 bp −$18	156.4 bp −$1,564	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	−0.1568%	1h	0.1271	−0.620%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1280	+0.112%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1278	−0.050%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1281	+0.162%	$42K	$138K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1280	+0.119%	—	—	150x	as long as short
Coinbase International OP-PERP-INTX	+0.0032%	1h	0.1281	+0.162%	$25K	$64K	50x	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1280	+0.084%	$6K	$45K	10x	as long as short
Kraken Futures PF_OPUSD	+0.0056%	1h	0.1279	−0.030%	$787K	$552K	20x	as long as short
Variational Omni OPlong	+0.0060%	8h	0.1279	long leg	$226K	$48K	—
OKX OP-USDT-SWAP	+0.0078%	8h	0.1273	−0.448%	$6.3M	$28.8M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OP	+0.0096%	1h	0.1279	−0.002%	$281K	$941K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1275	−0.315%	$3.7M	$2.8M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1279	+0.041%	$214K	$216K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1275	−0.297%	$20.6M	$60.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1273	−0.432%	$18.7M	$24.9M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1278	−0.072%	$2.0M	$1.4M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1275	−0.268%	$21.5M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1278	−0.072%	$2.9M	$6.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1275	−0.307%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1276	−0.237%	—	$6.3M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1278	−0.080%	$123K	$202K	10x	as long as short
edgeX OPUSDCshort	+0.0100%	4h	0.1273	−0.436%	$4K	$388K	10x
GRVT OP_USDT_Perp	+0.0100%	8h	0.1276	−0.211%	$319K	$5.1M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1274	−0.385%	$44K	$711K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1278	−0.065%	$202	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1278	−0.112%	$173K	$232K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1275	−0.282%	$102K	$393K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1280	+0.084%	$4K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1278	−0.096%	$1.0M	$282K	75x	as long as short
Reya OPRUSDPERP	+0.0441%	1h	0.1273	−0.429%	$708	—	20x	as long as short