Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Variational Omni−0.046%7-day average +0.013% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.154%−$15 on $10k

Price spread, last 3 days (all we have)+0.044%+$4 · spread now −0.046%, 7d avg +0.013%

Together, before fees−0.110%+ Points / potential airdropVariational Omni: Active · farm board−$11 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: Bybit is 0.059% cheaper against Variational Omni than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni STABLE	0.02527	0.0100	pay 0.0050% / 4h	4m 43s	$148K	$50K	—
Short	Bybit STABLEUSDT	0.02526	0.0100	get 0.0050% / 4h	4m 43s	$1.5M	$785K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.046%Rate

Funding earned: $0
Price spread: −0.046% → +0.013%: −$5.85
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$16.85
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 9 min ago; Bybit: live order book, 2 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, 9 min ago	7.92 bp	doesn't fit	305.0 bp −$3,050	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	3.96 bp	41.7 bp −$42	241.1 bp −$2,411	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
Lighter STABLE	+0.0096%	1h	0.02538	+0.441%	$117K	$3K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02527	−0.014%	$892K	$228K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02526	−0.061%	$19K	$6K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02526	−0.046%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDTshort	+0.0100%	4h	0.02526	−0.046%	$1.5M	$785K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02526	−0.046%	$207K	$430K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02526	−0.046%	$176K	$89K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02525	−0.085%	$674K	$157K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02532	+0.192%	$181K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02524	−0.125%	$295K	$115K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02526	−0.046%	—	$6.6M	—	as long as short
Variational Omni STABLElong	+0.0100%	4h	0.02527	long leg	$148K	$50K	—
SunX STABLE-USDT	+0.0100%	4h	0.02523	−0.161%	$2K	$698K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02524	−0.105%	$12K	$175K	10x	as long as short
BloFin STABLE-USDT	+0.0158%	4h	0.02522	−0.204%	$114K	$7K	75x	as long as short