Funding arb · Price arb /

INIT

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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: Bybit against Variational Omni−0.488%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.488% cheaper against Variational Omni than usual: you would sell low and buy high, −$49 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni INIT	0.08280	0.0100	pay 0.0050% / 4h	1h 47m	$26K	$23K	—
Short	Bybit INITUSDT	0.08240	0.0100	get 0.0050% / 4h	1h 47m	$1.4M	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.488%Rate

Funding earned: $0
Price spread: −0.488% → 0.000%: −$48.77
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$59.77
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Bybit: live order book, 4 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 no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	1.21 bp	46.8 bp −$47	173.4 bp −$1,734	doesn't fit	doesn't fit

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

INIT on 13 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
BloFin INIT-USDT	+0.0069%	4h	0.08242	−0.464%	—	$111K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08251	−0.350%	$300K	$230K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08277	−0.041%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08251	−0.351%	$3.4M	$3.7M	25x	as long as short
Bybit INITUSDTshort	+0.0100%	4h	0.08240	−0.488%	$1.4M	$1.5M	25x
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08251	−0.355%	$137K	$665K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08249	−0.379%	$84K	$55K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08248	−0.391%	$447K	$210K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08250	−0.367%	$327K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08253	−0.331%	$428K	$312K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08246	−0.415%	—	$6.6M	—	as long as short
Variational Omni INITlong	+0.0100%	4h	0.08280	long leg	$26K	$23K	—
Kraken Futures PF_INITUSD	+0.0242%	1h	0.08199	−0.980%	$3K	$19K	10x	as long as short