Funding arb · Price arb /

ONG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0932%/8h= +102.0% APRpaid last 24h +0.235%

Price spread now: Variational Omni against Aster+0.050%7-day average +0.529% · you sell dearer than you buy

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

Long on Aster Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.128%−$13 on $10k

Price spread, last 3 days (all we have)+0.257%+$26 · spread now +0.050%, 7d avg +0.529%

Together, before fees+0.129%+ Points / potential airdropAster: Stage 5 · Variational Omni: Active · farm board+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.479% cheaper against Aster than usual: you would sell low and buy high (spread +0.050% now, against its 7-day average of +0.529%). If the spread goes back, that is −$48 on $10k: about 41 hours of funding at the current rate (+$28 a day). Mind the row above: over the last 3 days funding on this pair cost −0.128%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.128% in total (about -14.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONGUSDT	0.09170	−0.0832	get 0.0104% / 1h	1m 25s	$80K	$101K	5x
Short	Variational Omni ONG	0.09175	0.0100	get 0.0050% / 4h	1h 01m	$150K	$26K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aster. 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 AsterbpFee Variational OmnibpOrdersPrice spread, now +0.050%Rate

Funding earned: $195.7
Price spread: +0.050% → +0.529%: −$47.91
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $139.79
Costs to cover: 0.080%
Break-even: 2.0 days

Slippage unknown: Aster: live order book, 14 min ago; Variational Omni: RFQ quote, 18 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 Aster live order book, 14 min ago	3.83 bp	13.6 bp −$14	387.9 bp −$3,879	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 18 min ago	6.03 bp	doesn't fit	253.8 bp −$2,538	doesn't fit	doesn't fit

ONG on 10 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
HTX ONG-USDT	−0.3518%	4h	0.09124	−0.503%	$29K	$76K	20x	as long as short
Binance ONGUSDT	−0.1096%	4h	0.09163	−0.079%	$6.9M	$15.3M	50x	as long as short
Extended ONG-USD	−0.1096%	1h	0.09161	−0.095%	$173K	$18K	5x	as long as short
MEXC ONG_USDT	−0.1096%	4h	0.09163	−0.078%	$10.0M	$380K	20x	as long as short
Aster ONGUSDTlong	−0.0832%	1h	0.09170	long leg	$80K	$101K	5x
Bitget ONGUSDT	−0.0808%	4h	0.09166	−0.045%	$1.4M	$1.2M	50x	as long as short
Gate ONG_USDT	−0.0716%	4h	0.09168	−0.023%	$373K	$358K	20x	as long as short
Bybit ONGUSDT	+0.0100%	4h	0.09183	+0.140%	$2.5M	$3.1M	20x	as long as short
BingX ONG-USDT	+0.0100%	4h	0.09170	−0.002%	—	$1.4M	—	as long as short
Variational Omni ONGshort	+0.0100%	4h	0.09175	+0.050%	$150K	$26K	—