Funding arb · Price arb /

THETA

all THETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0793%/8hnext payment +$7.93 per $10,000 · paid last 24h +0.096%

Price spread now: OKX against Variational Omni+0.068%7-day average +0.044% · you sell dearer than you buy

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

Long on Variational Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.162%+$16 on $10k

Price spread, last 3 days (all we have)−0.768%−$77 · spread now +0.068%, 7d avg +0.044%

Together, before fees−0.606%+ Points / potential airdropVariational Omni: Active · farm board−$61 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and OKX is 0.025% dearer against Variational Omni than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.044%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.162% in total (about 18.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$7.93 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni THETA	0.2218	−0.0732	get 0.0732% / 8h	4h 05m	$230K	$14K	—
Short	OKX THETA-USDT-SWAP	0.2220	0.0060	get 0.0060% / 8h	4h 05m	$621K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.068%Rate

Funding earned: $166.46
Price spread: +0.068% → +0.044%: $2.45
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: $158.92
Costs to cover: 0.100%
Break-even: 0.3 days

Slippage unknown: Variational Omni: RFQ quote, 28 min ago; OKX: live order book, 1 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, 28 min ago	11.33 bp	doesn't fit	197.1 bp −$1,971	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	4.51 bp	26.4 bp −$26	doesn't fit	doesn't fit	doesn't fit

THETA on 13 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
Variational Omni THETAlong	−0.0732%	8h	0.2218	long leg	$230K	$14K	—
Kraken Futures PF_THETAUSD	−0.0099%	1h	0.2224	+0.254%	$81K	$58K	20x	as long as short
Injective THETA/USDC PERP	+0.0033%	1h	0.2136	−3.718%	$208	$25K	5.5x	as long as short
BingX THETA-USDT	+0.0040%	8h	0.2221	+0.113%	—	$2.4M	—	as long as short
OKX THETA-USDT-SWAPshort	+0.0060%	8h	0.2220	+0.068%	$621K	$1.3M	20x
Aster THETAUSDT	+0.0100%	8h	0.2225	+0.277%	$8K	$5K	5x	as long as short
Binance THETAUSDT	+0.0100%	8h	0.2224	+0.262%	$3.2M	$4.7M	75x	as long as short
Bybit THETAUSDT	+0.0100%	8h	0.2220	+0.055%	$2.8M	$2.0M	75x	as long as short
Gate THETA_USDT	+0.0100%	8h	0.2222	+0.158%	$372K	$141K	50x	as long as short
MEXC THETA_USDT	+0.0100%	8h	0.2225	+0.293%	$1.3M	$605K	100x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin THETAUSDTM	+0.0100%	8h	0.2223	+0.203%	$920K	$98K	50x	as long as short
Bitget THETAUSDT	+0.0100%	8h	0.2224	+0.248%	$1.4M	$658K	50x	as long as short
BloFin THETA-USDT	+0.0220%	8h	0.2225	+0.293%	$163K	$180K	75x	as long as short