Funding arb · Price arb /

RIVER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.028%

Price spread now: Lighter against Variational Omni−0.099%7-day average — · you buy dearer than you sell

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 0.099% cheaper against Variational Omni than usual: you would sell low and buy high, −$10 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 RIVER	1.2833	0.0100	pay 0.0050% / 4h	2h 54m	$43K	$4K	—
Short	Lighter RIVER	1.2820	0.0096	get 0.0012% / 1h	54m 09s	$41K	$14K	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

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 LighterbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$0.84
Price spread: −0.099% → 0.000%: −$9.94
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$10.78
Costs to cover: 0.000%
Break-even: never at this rate

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.

RIVER on 16 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
Lighter RIVERshort	+0.0096%	1h	1.2820	−0.099%	$41K	$14K	3x
Bybit RIVERUSDT	+0.0100%	4h	1.2790	−0.333%	$3.9M	$1.8M	25x	as long as short
KuCoin RIVERUSDTM	+0.0100%	4h	1.2800	−0.255%	$2.5M	$3.6M	50x	as long as short
Variational Omni RIVERlong	+0.0100%	4h	1.2833	long leg	$43K	$4K	—
SunX RIVER-USDT	+0.0100%	4h	1.2780	−0.411%	$1K	$1.2M	20x	as long as short
HTX RIVER-USDT	+0.0100%	4h	1.2830	−0.021%	$50K	$71K	20x	as long as short
GRVT RIVER_USDT_Perp	+0.0118%	4h	1.2884	+0.396%	$30K	$459K	10x	as long as short
OKX RIVER-USDT-SWAP	+0.0218%	4h	1.2820	−0.099%	$2.1M	$4.1M	20x	as long as short
Gate RIVER_USDT	+0.0232%	4h	1.2800	−0.255%	$433K	$102K	20x	as long as short
Bitget RIVERUSDT	+0.0364%	4h	1.2810	−0.177%	$3.1M	$2.3M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX RIVER-USDT	+0.0416%	4h	1.2820	−0.099%	—	$6.8M	—	as long as short
Binance RIVERUSDT	+0.0428%	4h	1.2813	−0.152%	$6.2M	$11.5M	50x	as long as short
MEXC RIVER_USDT	+0.0438%	4h	1.2800	−0.255%	$3.7M	$1.6M	50x	as long as short
BloFin RIVER-USDT	+0.0495%	4h	1.2820	−0.099%	$407K	$31K	50x	as long as short
Kraken Futures PF_RIVERUSD	+0.0712%	1h	1.2813	−0.157%	$57K	$67K	10x	as long as short
Aster RIVERUSDT	+0.0714%	4h	1.2800	−0.254%	$72K	$28K	10x	as long as short