Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Extended+0.152%7-day average +0.093% · you sell dearer than you buy

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.027%+$3 on $10k

Price spread, last 3 days (all we have)−0.006%−$1 · spread now +0.152%, 7d avg +0.093%

Together, before fees+0.021%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.059% dearer against Extended than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended STABLE-USD	0.02474	0.0104	pay 0.0013% / 1h	28m 23s	$12K	$175K	10x
Short	Variational Omni STABLE	0.02478	0.0100	get 0.0050% / 4h	2h 28m	$145K	$51K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now +0.152%Rate

Funding earned: −$0.84
Price spread: +0.152% → +0.093%: $5.93
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $0.09
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Extended: live order book, 57 min ago; Variational Omni: RFQ quote, 60 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 Extended live order book, 57 min ago	6.06 bp	39.5 bp −$40	336.8 bp −$3,368	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 60 min ago	6.03 bp	doesn't fit	259.4 bp −$2,594	doesn't fit	doesn't fit

STABLE on 15 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
Aster STABLEUSDT	−0.0296%	4h	0.02474	+0.013%	$19K	$7K	20x	as long as short
BloFin STABLE-USDT	+0.0058%	4h	0.02474	−0.005%	$114K	$8K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02490	+0.621%	$114K	$3K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02475	+0.035%	$872K	$235K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02474	+0.015%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02476	+0.080%	$1.5M	$818K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02476	+0.076%	$204K	$418K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02474	−0.005%	$171K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02475	+0.035%	$660K	$157K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02478	+0.156%	$175K	$27K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02476	+0.076%	$292K	$116K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02477	+0.116%	—	$6.5M	—	as long as short
Variational Omni STABLEshort	+0.0100%	4h	0.02478	+0.152%	$145K	$51K	—
SunX STABLE-USDT	+0.0100%	4h	0.02477	+0.104%	$2K	$646K	20x	as long as short
Extended STABLE-USDlong	+0.0104%	1h	0.02474	long leg	$12K	$175K	10x