Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.019%

Price spread now: Variational Omni against Extended+0.010%7-day average +0.066% · you sell dearer than you buy

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$1 on $10k

Price spread, last 4 days (all we have)+0.655%+$66 · spread now +0.010%, 7d avg +0.066%

Together, before fees+0.640%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$64 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: Variational Omni is 0.056% cheaper against Extended than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended COIN_24_5-USD	196.05	0	get 0.0000% / 1h	17m 28s	$117K	$790K	10x
Short	Variational Omni COIN	196.07	0	get 0.0000% / 8h	1h 17m	$708K	$980K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → +0.066%: −$5.56
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$10.56
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 26 min ago; Variational Omni: RFQ quote, 17 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 Extended live order book, 26 min ago	1.02 bp	9.0 bp −$9	45.2 bp −$452	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 17 min ago	2.87 bp	doesn't fit	12.4 bp −$124	doesn't fit	doesn't fit

COIN on 26 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
Bitget COINUSDT	−0.0622%	8h	196.19	+0.071%	$6.4M	$10.6M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	196.04	−0.006%	$43K	$48K	30x	as long as short
Vest COIN-USD-PERP	−0.0090%	1h	195.59	−0.235%	—	$326K	25x	as long as short
Aster COINUSDT	0.0000%	8h	195.99	−0.030%	$342K	$890K	20x	as long as short
Extended COIN_24_5-USDlong	0.0000%	1h	196.05	long leg	$117K	$790K	10x
Binance COINUSDT	0.0000%	8h	196.11	+0.030%	$15.0M	$82.1M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	196.06	+0.005%	$4.7M	$6.2M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	196.05	0.000%	$3.0M	$4.7M	20x	as long as short
Gate COIN_USDT	0.0000%	8h	196.08	+0.015%	$1.2M	$7.4M	50x	as long as short
Variational Omni COINshort	0.0000%	8h	196.07	+0.010%	$708K	$980K	—

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	196.11	+0.029%	$12K	$2.8M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	195.99	−0.031%	$461K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	196.21	+0.081%	$15K	$54K	5x	as long as short
QFEX COIN-USD	+0.0045%	1h	196.06	+0.005%	$1.3M	$2.9M	10x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	195.88	−0.087%	$15.2M	$13.2M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	195.92	−0.067%	$130K	$1.4M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	196.07	+0.010%	$80	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	195.83	−0.113%	$435K	$2.8M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	195.87	−0.092%	$987K	$136K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	195.94	−0.057%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	196.08	+0.015%	$567	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	196.08	+0.015%	$116	—	10x	as long as short
edgeX COINUSDC	+0.0117%	4h	196.11	+0.028%	$50K	$296K	10x	as long as short
Lighter COIN	+0.0120%	1h	196.01	−0.022%	$364K	$2.3M	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.09	+0.020%	$187K	$428K	20x	as long as short
Phoenix COIN	+0.0163%	1h	195.84	−0.108%	$4K	$283K	10x	as long as short