Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%

Price spread now: ApeX Omni against Variational Omni−0.170%103s7-day average +0.065% · you buy dearer than you sell

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.033%+$3 on $10k

Price spread, last 4 days (all we have)+0.340%+$34 · spread now −0.170%, 7d avg +0.065%

Together, before fees+0.374%+ Points / potential airdropVariational Omni: Active · farm board+$37 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: ApeX Omni is 0.235% cheaper against Variational Omni than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.065%. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VIRTUAL	0.7243	0.0100	pay 0.0050% / 4h	2h 25m	$539K	$909K	—
Short	ApeX Omni VIRTUALUSDT	0.7231	0.0100	get 0.0013% / 1h	25m 47s	$41K	$240K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.170%Rate

Funding earned: $0
Price spread: −0.170% → +0.065%: −$23.47
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$33.47
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 43 min ago; ApeX Omni: live order book, 41 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, 43 min ago	4.06 bp	doesn't fit	21.7 bp −$217	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 41 min ago	5.43 bp	12.8 bp −$13	100.1 bp −$1,001	doesn't fit	doesn't fit

VIRTUAL on 32 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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7243	−0.003%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7243	−0.004%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0026%	1h	0.7247	+0.051%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7248	+0.070%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7234	−0.126%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.744%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7247	+0.051%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7241	−0.029%	$329K	$415K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7257	+0.195%	$8.9M	$4.2M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7258	+0.205%	$98K	$296K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7247	+0.051%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7254	+0.143%	$16.6M	$41.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7252	+0.120%	$16.7M	$18.3M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7247	+0.051%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7260	+0.230%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7244	+0.010%	$17.7M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7257	+0.189%	$3.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7255	+0.161%	$6.3M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7254	+0.148%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7259	+0.217%	$245K	$173K	10x	as long as short
Variational Omni VIRTUALlong	+0.0100%	4h	0.7243	long leg	$539K	$909K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7232	−0.152%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7230	−0.185%	$641K	$888K	10x	as long as short
ApeX Omni VIRTUALUSDTshort	+0.0100%	1h	0.7231	−0.170%	$41K	$240K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7250	+0.098%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7244	+0.010%	$1K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7245	+0.019%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7252	+0.120%	$57K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7246	+0.036%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7246	+0.040%	$31K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7253	+0.134%	$189K	$101K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1017%	1h	0.7257	+0.194%	$598K	$666K	50x	as long as short