SWAP Variational swaps against perps
Swaps track total return and pay flat, SOFR-benchmarked financing. The perps below pay floating funding. The gap between the two is the carry.
% APR
The feed publishes 0 for swaps. Real long and short rates are set separately. Enter the rate you see in the app.
All Variational markets
Best counter-venue per market after the Variational spread at your size, taker fees, and the counter venue's top-of-book spread, entered and exited once over the hold. Click a row to see every venue. A gold underline marks the Variational side your trade would add to.
| Variational | Counter venue | Arb | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Market | Funding APR | Long OI | Short OI | L/S | 24h vol | Spread @size | Venue | Funding APR | OI | 24h vol | Trade | Funding gap | Cost | Break-even | Net APR | Basis |
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