Funding arb · Price arb /

AMD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0488%/8h= −53.4% APRpaid last 24h −0.067%

Price spread now: Lighter against Variational Omni+0.056%7-day average −0.010% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.078%−$8 on $10k

Price spread, last 4 days (all we have)+0.214%+$21 · spread now +0.056%, 7d avg −0.010%

Together, before fees+0.136%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.065% dearer against Variational Omni than usual: you sell high and buy low (spread +0.056% now, against its 7-day average of −0.010%): +$7 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 3 days (−0.078% in total) that is about 2.9 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.078% in total (about -8.2% a year). A funding rate is set anew for every payment. 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 AMD	621.75	0.0712	pay 0.0712% / 8h	5h 10m	$2.6M	$3.3M	—
Short	Lighter AMD	622.10	0.0224	get 0.0028% / 1h	10m 31s	$545K	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$102.41
Price spread: +0.056% → −0.010%: $6.52
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$95.89
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Lighter: live order book, 6 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, 4 min ago	3.33 bp	doesn't fit	24.7 bp −$247	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	1.21 bp	1.2 bp −$1	5.7 bp −$57	65.4 bp −$6,542	doesn't fit

AMD on 31 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
edgeX AMDUSDC	−0.0016%	4h	621.48	−0.043%	$81K	$1.6M	10x	as long as short
SunX AMD-USDT	0.0000%	8h	621.79	+0.006%	$1K	$8.3M	10x	as long as short
HTX AMD-USDT	0.0000%	8h	621.90	+0.024%	$122K	$599K	20x	as long as short
Phemex AMDUSDT	0.0000%	8h	622.23	+0.077%	$1.8M	$459K	10x	as long as short
Gate AMD_USDT	+0.0013%	8h	622.51	+0.122%	$4.5M	$13.3M	50x	as long as short
Bitget AMDUSDT	+0.0024%	8h	622.44	+0.110%	$10.3M	$17.0M	20x	as long as short
Lighter RH AMD	+0.0032%	1h	621.96	+0.033%	$855K	$4.4M	10x	as long as short
Injective AMD/USDC PERP	+0.0033%	1h	611.72	−1.614%	$5K	$55K	12x	as long as short
Arcus AMD-USD	+0.0040%	1h	621.74	−0.002%	$144K	$263K	10x	as long as short
Polymarket Perps AMD-USD	+0.0050%	1h	621.83	+0.012%	$399K	$1.5M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps AMD-USD.P	+0.0050%	1h	621.45	−0.049%	$1.5M	$4.1M	10x	as long as short
Vest AMD-USD-PERP	+0.0053%	1h	623.31	+0.250%	—	$923K	25x	as long as short
QFEX AMD-USD	+0.0080%	1h	622.29	+0.086%	$2.1M	$11.9M	10x	as long as short
KuCoin AMDUSDTM	+0.0100%	8h	621.87	+0.019%	$1.9M	$281K	20x	as long as short
ApeX Omni AMDUSDT	+0.0100%	1h	621.53	−0.036%	$80K	$257K	50x	as long as short
Orderly PERP_AMD_USDC_mythos	+0.0100%	8h	621.70	−0.009%	$372	$6K	10x	as long as short
Coinbase International AMD-PERP-INTX	+0.0136%	1h	620.69	−0.171%	$300K	$1.8M	10x	as long as short
Deribit AMD_USDC-PERPETUAL	+0.0152%	1h	621.47	−0.046%	$77K	$151K	10x	as long as short
tradeXYZ xyz:AMD	+0.0165%	1h	621.87	+0.019%	$24.8M	$93.9M	10x	as long as short
SoDEX AMD-USD	+0.0197%	1h	621.87	+0.019%	$26K	$24K	10x	as long as short
Lighter AMDshort	+0.0224%	1h	622.10	+0.056%	$545K	$2.5M	10x
Phoenix AMD	+0.0245%	1h	621.11	−0.104%	$2K	$90K	10x	as long as short
Aevo AMD-PERP	+0.0272%	1h	622.12	+0.059%	$11K	—	10x	as long as short
OKX AMD-USDT-SWAP	+0.0309%	8h	622.23	+0.077%	$7.0M	$27.9M	25x	as long as short
Nado AMD-PERP	+0.0312%	1h	621.70	−0.008%	$269K	$218K	10x	as long as short
Aster AMDUSDT	+0.0388%	8h	621.90	+0.023%	$72K	$412K	50x	as long as short
GRVT AMD_USDT_Perp	+0.0679%	8h	621.60	−0.025%	$18K	$139K	10x	as long as short
Variational Omni AMDlong	+0.0712%	8h	621.75	long leg	$2.6M	$3.3M	—
Binance AMDUSDT	+0.0773%	8h	622.31	+0.089%	$75.7M	$190.1M	25x	as long as short
Extended AMD_24_5-USD	+0.0776%	1h	622.15	+0.064%	$464K	$1.9M	10x	as long as short
BloFin AMD-USDT	+0.0792%	8h	622.00	+0.040%	$7K	$548K	20x	as long as short