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 BingX−0.381%7-day average +0.017% · 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)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.203%+$20 · spread now −0.381%, 7d avg +0.017%

Together, before fees+0.203%+ Points / potential airdropVariational Omni: Active · farm board+$20 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 0.398% cheaper against BingX than usual: you would sell low and buy high, −$40 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX STABLE-USDT	0.02494	0.0100	pay 0.0050% / 4h	1h 22m	—	$6.5M	—
Short	Variational Omni STABLE	0.02484	0.0100	get 0.0050% / 4h	1h 22m	$145K	$50K	—

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 −0.381%Rate

Funding earned: $0
Price spread: −0.381% → +0.017%: −$39.82
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$49.82
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 4 min ago; Variational Omni: RFQ quote, 41 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, 4 min ago	6.04 bp	31.4 bp −$31	85.2 bp −$852	601.6 bp −$60.2K	1049.8 bp −$524.9K
Sell Variational Omni RFQ quote, 41 min ago	10.03 bp	doesn't fit	102.3 bp −$1,023	doesn't fit	doesn't fit

STABLE on 15 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
Lighter STABLE	+0.0096%	1h	0.02505	+0.449%	$115K	$6K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02494	0.000%	$879K	$179K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02492	−0.065%	$19K	$8K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02494	−0.018%	$2.6M	$2.8M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02497	+0.108%	$1.5M	$730K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02495	+0.040%	$201K	$382K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02494	0.000%	$174K	$57K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02492	−0.080%	$617K	$168K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02493	−0.040%	$184K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02495	+0.040%	$287K	$92K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDTlong	+0.0100%	4h	0.02494	long leg	—	$6.5M	—
Variational Omni STABLEshort	+0.0100%	4h	0.02484	−0.381%	$145K	$50K	—
SunX STABLE-USDT	+0.0100%	4h	0.02492	−0.088%	$1K	$825K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02493	−0.057%	$14K	$143K	10x	as long as short
BloFin STABLE-USDT	+0.0147%	4h	0.02494	0.000%	$87K	$7K	75x	as long as short