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: MEXC against Variational Omni+0.232%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on MEXC

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: MEXC is 0.232% dearer against Variational Omni than usual: you sell high and buy low, +$23 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	0.08282	0.0100	pay 0.0050% / 4h	1h 22m	$26K	$23K	—
Short	MEXC INIT_USDT	0.08301	0.0100	get 0.0050% / 4h	1h 22m	$450K	$211K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.232%Rate

Funding earned: $0
Price spread: +0.232% → 0.000%: $23.18
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: $19.18
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; MEXC: 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 no order-book sample	—	—	—	—	—
Sell MEXC live order book, 28 min ago	2.42 bp	11.9 bp −$12	79.8 bp −$798	252.2 bp −$25.2K	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
Hyperliquid INIT	+0.0100%	1h	0.08307	+0.309%	$302K	$227K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08293	+0.138%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08307	+0.304%	$3.4M	$3.7M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08297	+0.184%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08314	+0.389%	$137K	$664K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08294	+0.147%	$84K	$56K	25x	as long as short
MEXC INIT_USDTshort	+0.0100%	4h	0.08301	+0.232%	$450K	$211K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08289	+0.087%	$328K	$55K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08305	+0.280%	$431K	$313K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08303	+0.256%	—	$6.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INITlong	+0.0100%	4h	0.08282	long leg	$26K	$23K	—
BloFin INIT-USDT	+0.0132%	4h	0.08287	+0.063%	$152K	$112K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0241%	1h	0.08237	−0.539%	$3K	$19K	10x	as long as short