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: BingX against Variational Omni+0.352%7-day average — · you sell dearer than you buy

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 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: BingX is 0.352% dearer against Variational Omni than usual: you sell high and buy low, +$35 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 IO	0.1492	0.0100	pay 0.0050% / 4h	3h 51m	$30K	$18K	—
Short	BingX IO-USDT	0.1497	0.0100	get 0.0050% / 4h	3h 51m	—	$1.3M	—

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 +0.352%Rate

Funding earned: $0
Price spread: +0.352% → 0.000%: $35.17
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $25.17
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; BingX: live order book, 8 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, 8 min ago	6.70 bp	23.6 bp −$24	59.3 bp −$593	453.6 bp −$45.4K	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.

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	0.1497	+0.372%	$1.0M	$275K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1497	+0.336%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1497	+0.349%	$3.0M	$4.9M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1495	+0.197%	$1.1M	$629K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1496	+0.258%	$230K	$442K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1495	+0.218%	$1.2M	$212K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1496	+0.285%	$343K	$195K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1498	+0.419%	$1.4M	$957K	50x	as long as short
BingX IO-USDTshort	+0.0100%	4h	0.1497	+0.352%	—	$1.3M	—
Variational Omni IOlong	+0.0100%	4h	0.1492	long leg	$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	0.1497	+0.322%	$692	$212K	5x	as long as short
BloFin IO-USDT	+0.0119%	4h	0.1496	+0.285%	$192K	$33K	50x	as long as short
Injective IO/USDC PERP	+0.0277%	1h	0.1492	+0.016%	$2K	$196	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.9829%	1h	0.1499	+0.473%	$39K	$7K	10x	as long as short