Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.028%

Price spread now: Variational Omni against BingX−0.042%7-day average −0.101% · you buy dearer than you sell

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

Long on BingX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.136%−$14 on $10k

Price spread, last 3 days (all we have)−0.182%−$18 · spread now −0.042%, 7d avg −0.101%

Together, before fees−0.318%+ Points / potential airdropVariational Omni: Active · farm board−$32 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 0.059% dearer against BingX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AR-USDT	4.4660	0.0100	pay 0.0100% / 8h	1h 49m	—	$2.9M	—
Short	Variational Omni AR	4.4641	0.0100	get 0.0100% / 8h	1h 49m	$135K	$174K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BingX. 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 BingXbpFee Variational OmnibpOrdersPrice spread, now −0.042%Rate

Funding earned: $0
Price spread: −0.042% → −0.101%: $5.91
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$4.09
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 15 min ago; Variational Omni: RFQ quote, 34 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 BingX live order book, 15 min ago	4.50 bp	18.0 bp −$18	46.5 bp −$465	397.2 bp −$39.7K	767.6 bp −$383.8K
Sell Variational Omni RFQ quote, 34 min ago	4.94 bp	doesn't fit	132.6 bp −$1,326	doesn't fit	doesn't fit

AR on 17 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
Kraken Futures PF_ARUSD	−0.1937%	1h	4.4659	−0.003%	$46K	$154K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4702	+0.094%	$574K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.373%	$3K	$339	5.5x	as long as short
OKX AR-USDT-SWAP	+0.0090%	8h	4.4620	−0.090%	$2.2M	$20.4M	20x	as long as short
Extended AR-USD	+0.0096%	1h	4.4673	+0.029%	$36K	$237K	10x	as long as short
Binance ARUSDT	+0.0099%	8h	4.4672	+0.027%	$8.7M	$55.8M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.4721	+0.137%	$3.8M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4720	+0.135%	$20K	$621K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4668	+0.018%	$4.6M	$8.9M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4660	0.000%	$2.5M	$2.3M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AR_USDT	+0.0100%	8h	4.4680	+0.045%	$6.8M	$4.5M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.4680	+0.045%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4660	0.000%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDTlong	+0.0100%	8h	4.4660	long leg	—	$2.9M	—
Variational Omni ARshort	+0.0100%	8h	4.4641	−0.042%	$135K	$174K	—
ApeX Omni ARUSDT	+0.0100%	1h	4.4700	+0.090%	$57K	$747K	50x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4680	+0.045%	$418K	$667K	20x	as long as short