Funding arb · Price arb / RWA

CIEN

RWAAll CIEN markets →

LONGBingX▾Binance 0.0000%Bybit 0.0000%OKX 0.0000%Gate 0.0000%KuCoin 0.0000%Bitget 0.0000%Paragon +0.0060%QFEX +0.0064%SunX +0.0100%HTX +0.0100%BingX +0.1340%

⇄⇅

SHORTVariational Omni▾SunX +0.0100%HTX +0.0100%QFEX +0.0064%Paragon +0.0060%Binance 0.0000%Bybit 0.0000%OKX 0.0000%Gate 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	BingXNCSKCIEN2USD-USDT	350.07	+0.1340	pay 0.1340% / 8h	2h 29m	$981K	$1.2M	—	Long BingX
SHORT	Variational OmniCIEN	349.90	0	0.0000% / 8h	2h 29m	$41K	$59K	20x	Short Variational Omni+15% pts

Price gap−0.048%

Funding gap−0.1340% /8h

Both sides work against this direction now: funding costs $40 a day on $10k and the gap is 0.048% under zero (no 7-day history yet). Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.511% in total, about −0.0243%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.048%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

BingXVariational Omni

CIEN on 12 exchanges

lowest funding first

Before you open

2 ok · 3 to watch

• !
  Watch: Thin at this size45.6 / 109.9 bp

  At $10k entering Variational Omni costs 109.9 bp, fee and slippage, 2.4× BingX’s.
• i
  Note: Margin at max leverage— + $500

  BingX —, Variational Omni 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval8h / 8h

  Both legs pay at the same time.

  Long BingX · 8h−$40.20

  Short Variational Omni · 8h$0.00

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$40.20Long BingX: 3 payments, −$40.20; short Variational Omni: 3 payments, $0.00.
• i
  Note: No 7-day spread history−0.048%

  The gap cannot be compared with its average yet.
• !
  Watch: Short leg is thinner$41K vs $981K OI

  Variational Omni sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legVariational Omni points

  Volume here counts toward the points program.
• !
  Watch: KYCBingX Yes · Variational Omni No

  Advanced KYC to deposit or trade; unverified accounts can only withdraw, up to 20,000 USDT a day. Rules vary by region.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0243%/8h × 21 periods−$51.12

Price spread−0.048% → 0−$4.79

Slippage, 4 orderslive order books−$316.59

Fee BingX bp × 2 orders−$10.00

Fee Variational Omni bp × 2 orders$0.00

Net · 7 days · $10k−$382.49

Costs to cover3.266%Break-evennever at this rate

Slippage: BingX: live order book, 14 min ago; Variational Omni: RFQ quote, 11 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGBingX11.1545.6 bp−$46100.0 bp−$1,000636.1 bp−$63.6K1061.8 bp−$530.9K

SELL · SHORTVariational Omni4.35109.9 bp−$110205.9 bp−$2,059doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

CIEN news

posts that mention CIEN or Ciena, from every exchangeSearch all news →

09-18 12:57

Paragon

Listing

Ciena ($CIEN), IREN ($IREN) and Applied Optoelectronics ($AAOI) sit on different layers of the same AI build: line systems, cloud capacity, and optical transceivers. All three are live as perpetuals, 24/7 on Hyperliquid. Up to 10x. @tradeparagon on X ↗