Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against BingX−0.117%7-day average — · 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 4 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: Variational Omni is 0.117% cheaper against BingX than usual: you would sell low and buy high, −$12 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	BingX IO-USDT	0.1497	0.0100	pay 0.0050% / 4h	3h 50m	—	$1.3M	—
Short	Variational Omni IO	0.1495	0.0100	get 0.0050% / 4h	3h 50m	$30K	$18K	—

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 −0.117%Rate

Funding earned: $0
Price spread: −0.117% → 0.000%: −$11.67
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.67
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 9 min ago; Variational Omni: no order-book sample. 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, 9 min ago	6.70 bp	23.7 bp −$24	64.6 bp −$646	474.8 bp −$47.5K	582.0 bp −$291.0K
Sell Variational Omni no order-book sample	—	—	—	—	—

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.

IO on 14 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 IO	+0.0100%	1h	0.1499	+0.147%	$1.0M	$275K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1498	+0.080%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1498	+0.067%	$3.0M	$4.9M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1495	−0.134%	$1.1M	$629K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1498	+0.067%	$230K	$443K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1496	−0.067%	$1.2M	$212K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1498	+0.067%	$344K	$195K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1498	+0.067%	$1.4M	$957K	50x	as long as short
BingX IO-USDTlong	+0.0100%	4h	0.1497	long leg	—	$1.3M	—
Variational Omni IOshort	+0.0100%	4h	0.1495	−0.117%	$30K	$18K	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1498	+0.040%	$692	$212K	5x	as long as short
BloFin IO-USDT	+0.0137%	4h	0.1499	+0.134%	$193K	$33K	50x	as long as short
Injective IO/USDC PERP	+0.0277%	1h	0.1492	−0.334%	$2K	$196	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.9773%	1h	0.1501	+0.261%	$39K	$7K	10x	as long as short