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Funding arb · Price arb /

THETA

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 09:00 UTC+0.0370%/8h= +40.5% APRpaid last 24h +0.131%
Price spread now: Injective against Variational Omni−4.542%91s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Injective
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 · farm boardneeds both histories
Funding pays, the price is against you. Injective is 4.542% cheaper against Variational Omni than usual: you would sell low and buy high (spread −4.542% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$454 on $10k: about 41 days of funding at the current rate (+$11 a day). The two prices were read 91 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni THETA0.2238−0.0336get 0.0336% / 8h7h 01m$293K$74K—
ShortInjective THETA/USDC PERP0.21360.0033get 0.0004% / 1h1m 56s$208$25K5.5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective 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

Funding earned
$77.63
Price spread: −4.542% → 0.000%
−$454.19
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
−$376.58
Costs to cover
0.000%
Break-even
41.0 days
Slippage unknown: Variational Omni: RFQ quote, 32 min ago; Injective: 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
LegHalf-spread$10k$100k$1M$5M
Buy Variational Omni RFQ quote, 32 min ago6.77 bpdoesn't fit83.5 bp −$835doesn't fitdoesn't fit
Sell Injective no order-book sample—————
Injective: 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.

THETA on 13 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni THETAlong−0.0336%8h0.2238long leg$293K$74K—
Kraken Futures PF_THETAUSD−0.0148%1h0.2241+0.139%$80K$70K20xas long as short
Injective THETA/USDC PERPshort+0.0033%1h0.2136−4.542%$208$25K5.5x
BingX THETA-USDT+0.0061%8h0.2240+0.106%—$2.4M—as long as short
Aster THETAUSDT+0.0100%8h0.2243+0.222%$17K$19K5xas long as short
Binance THETAUSDT+0.0100%8h0.2241+0.151%$3.2M$6.1M75xas long as short
Bybit THETAUSDT+0.0100%8h0.2239+0.061%$3.0M$2.8M75xas long as short
OKX THETA-USDT-SWAP+0.0100%8h0.2237−0.028%$626K$1.4M20xas long as short
Gate THETA_USDT+0.0100%8h0.2244+0.285%$380K$156K50xas long as short
MEXC THETA_USDT+0.0100%8h0.2240+0.106%$1.4M$564K100xas long as short
Show all 13 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin THETAUSDTM+0.0100%8h0.2241+0.151%$1.0M$415K50xas long as short
Bitget THETAUSDT+0.0100%8h0.2240+0.106%$1.2M$911K50xas long as short
BloFin THETA-USDT+0.0220%8h0.2245+0.329%$155K$184K75xas long as short