Funding arb · Price arb /

UMA

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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: BingX against Variational Omni−0.154%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 BingX

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: BingX is 0.154% cheaper against Variational Omni than usual: you would sell low and buy high, −$15 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 UMA	0.4060	0.0100	pay 0.0050% / 4h	1h 19m	$5K	$7	—
Short	BingX UMA-USDT	0.4054	0.0100	get 0.0050% / 4h	1h 19m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.154%Rate

Funding earned: $0
Price spread: −0.154% → 0.000%: −$15.39
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$25.39
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; BingX: live order book, 3 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 BingX live order book, 3 min ago	6.17 bp	29.0 bp −$29	76.3 bp −$763	834.6 bp −$83.5K	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.

UMA 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 UMA-USDT	+0.0076%	4h	0.4044	−0.400%	$75K	$8K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4056	−0.097%	$215K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4056	−0.106%	$25K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4052	−0.198%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4058	−0.055%	$673K	$157K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4054	−0.154%	$316K	$236K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4048	−0.302%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4051	−0.228%	$225K	$163K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4054	−0.154%	$157K	$63K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4057	−0.080%	$977K	$67K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDTshort	+0.0100%	4h	0.4054	−0.154%	—	$2.3M	—
Variational Omni UMAlong	+0.0100%	4h	0.4060	long leg	$5K	$7	—
Kraken Futures PF_UMAUSD	+0.2641%	1h	0.4068	+0.189%	$14K	$6K	10x	as long as short