Funding arb · Price arb /

ORCL

RWAall ORCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0538%/8h= +58.9% APRpaid last 24h +0.110%

Price spread now: Phoenix against Variational Omni−0.015%84s7-day average −0.053% · you buy dearer than you sell

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

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.122%+$12 on $10k

Price spread, last 3 days (all we have)+0.010%+$1 · spread now −0.015%, 7d avg −0.053%

Together, before fees+0.132%+ Points / potential airdropVariational Omni: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Phoenix is 0.038% dearer against Variational Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.053%. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.122% in total (about 13.6% 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 ORCL	148.81	0	get 0.0000% / 8h	1h 48m	$1.3M	$221K	—
Short	Phoenix ORCL	148.79	0.0538	get 0.0067% / 1h	48m 00s	$149K	$100K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 PhoenixbpOrdersPrice spread, now −0.015%Rate

Funding earned: $112.93
Price spread: −0.015% → −0.053%: $3.78
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $109.7
Costs to cover: 0.070%
Break-even: 0.2 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Phoenix: live order book, 28 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, 1 min ago	3.06 bp	doesn't fit	35.0 bp −$350	doesn't fit	doesn't fit
Sell Phoenix live order book, 28 min ago	3.36 bp	12.1 bp −$12	26.0 bp −$260	doesn't fit	doesn't fit

ORCL on 28 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 ORCLUSDC	−0.0651%	4h	148.83	+0.012%	$28K	$214K	10x	as long as short
Aster ORCLUSDT	0.0000%	8h	148.90	+0.056%	$93K	$16K	20x	as long as short
Extended ORCL_24_5-USD	0.0000%	1h	148.86	+0.029%	$386K	$1.4M	10x	as long as short
Binance ORCLUSDT	0.0000%	8h	148.88	+0.043%	$24.8M	$35.8M	20x	as long as short
Gate ORCL_USDT	0.0000%	8h	148.88	+0.045%	$2.2M	$3.0M	25x	as long as short
Variational Omni ORCLlong	0.0000%	8h	148.81	long leg	$1.3M	$221K	—
GRVT ORCL_USDT_Perp	0.0000%	8h	148.87	+0.037%	$1K	$203K	10x	as long as short
SunX ORCL-USDT	0.0000%	8h	149.07	+0.173%	$3K	$2.9M	10x	as long as short
HTX ORCL-USDT	0.0000%	8h	149.01	+0.133%	$52K	$22K	20x	as long as short
Lighter ORCL	+0.0032%	1h	148.96	+0.099%	$472K	$53K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH ORCL	+0.0032%	1h	148.92	+0.072%	$623K	$456K	10x	as long as short
Injective ORCL/USDC PERP	+0.0033%	1h	149.06	+0.166%	$20K	$14K	12x	as long as short
Vest ORCL-USD-PERP	+0.0046%	1h	148.87	+0.039%	—	$127K	25x	as long as short
tradeXYZ xyz:ORCL	+0.0050%	1h	148.78	−0.022%	$21.4M	$8.5M	10x	as long as short
Polymarket Perps ORCL-USD	+0.0050%	1h	148.76	−0.035%	$130K	$122K	10x	as long as short
SoDEX ORCL-USD	+0.0050%	1h	148.83	+0.012%	$30K	$3K	10x	as long as short
Ondo Perps ORCL-USD.P	+0.0050%	1h	148.71	−0.069%	$737K	$586K	10x	as long as short
QFEX ORCL-USD	+0.0056%	1h	148.85	+0.025%	$1.1M	$2.8M	10x	as long as short
Nado ORCL-PERP	+0.0092%	1h	148.78	−0.024%	$92K	$18K	10x	as long as short
KuCoin ORCLUSDTM	+0.0100%	8h	148.97	+0.106%	$259K	$210K	20x	as long as short
ApeX Omni ORACLEUSDT	+0.0100%	1h	148.85	+0.025%	$22K	$269K	50x	as long as short
Orderly PERP_ORCL_USDC_mythos	+0.0100%	8h	148.82	+0.005%	$189	—	10x	as long as short
Arcus ORCL-USD	+0.0152%	1h	148.81	−0.002%	$78K	$78K	10x	as long as short
OKX ORCL-USDT-SWAP	+0.0192%	8h	148.95	+0.092%	$4.7M	$5.7M	20x	as long as short
Bitget ORCLUSDT	+0.0296%	8h	148.92	+0.072%	$7.4M	$4.6M	20x	as long as short
Bybit ORCLUSDT	+0.0471%	8h	148.93	+0.079%	$3.5M	$1.6M	50x	as long as short
BloFin ORCL-USDT	+0.0473%	8h	148.79	−0.015%	$47K	$51K	20x	as long as short
Phoenix ORCLshort	+0.0538%	1h	148.79	−0.015%	$149K	$100K	10x