Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Bybit+0.126%7-day average −0.046% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.834%+$83 · spread now +0.126%, 7d avg −0.046%

Together, before fees+0.839%+ Points / potential airdropVariational Omni: Active · farm board+$84 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 0.172% dearer against Bybit than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003426	0.0100	pay 0.0050% / 4h	2h 05m	$10.9M	$17.9M	50x
Short	Variational Omni 1000BONK	0.000003430	0.0100	get 0.0050% / 4h	2h 05m	$313K	$134K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.126%Rate

Funding earned: $0
Price spread: +0.126% → −0.046%: $17.2
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $6.2
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 3 min ago; Variational Omni: RFQ quote, 63 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 Bybit live order book, 3 min ago	1.46 bp	12.9 bp −$13	32.7 bp −$327	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 63 min ago	5.85 bp	doesn't fit	58.5 bp −$585	doesn't fit	doesn't fit

BONK on 30 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
Coinbase International 1000BONK-PERP-INTX	−0.0336%	1h	0.000003434	+0.245%	$44K	$27K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003432	+0.199%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003434	+0.245%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003432	+0.193%	$24	—	150x	as long as short
Orderly PERP_1000BONK_USDC	+0.0017%	4h	0.000003433	+0.216%	$29K	$58K	20x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.426%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003433	+0.214%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003436	+0.304%	$224K	$678K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003430	+0.119%	$81K	$268K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003436	+0.304%	$114K	$123K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003423	−0.085%	$16.1M	$57.5M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003426	long leg	$10.9M	$17.9M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003422	−0.105%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003424	−0.047%	$864K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003423	−0.076%	$9.6M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003425	−0.026%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003420	−0.163%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003424	−0.047%	—	$6.5M	—	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003430	+0.126%	$313K	$134K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003422	−0.105%	$58K	$708K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003431	+0.158%	$27K	$112K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003437	+0.333%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003432	+0.187%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003442	+0.479%	$97K	$150K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003422	−0.114%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003435	+0.274%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.424%	$574	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0355%	1h	0.000003427	+0.041%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.1015%	1h	0.000003429	+0.099%	$10.2M	$6.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2048%	1h	0.000003440	+0.433%	$222K	$173K	50x	as long as short