Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against BingX+0.126%7-day average +0.019% · you sell dearer than you buy

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)0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now +0.126%, 7d avg +0.019%

Together, before fees−0.080%+ Points / potential airdropVariational Omni: Active · farm board−$8 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 0.106% dearer against BingX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX STABLE-USDT	0.02445	0.0100	pay 0.0050% / 4h	2h 55m	—	$6.6M	—
Short	Variational Omni STABLE	0.02448	0.0100	get 0.0050% / 4h	2h 55m	$143K	$8K	—

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 +0.126%Rate

Funding earned: $0
Price spread: +0.126% → +0.019%: $10.64
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $0.64
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 11 min ago; Variational Omni: RFQ quote, 58 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, 11 min ago	4.10 bp	25.8 bp −$26	80.4 bp −$804	569.5 bp −$56.9K	1038.7 bp −$519.4K
Sell Variational Omni RFQ quote, 58 min ago	10.22 bp	doesn't fit	214.7 bp −$2,147	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	0.02456	+0.454%	$113K	$6K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02448	+0.143%	$860K	$180K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02444	−0.021%	$18K	$10K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02445	0.000%	$2.5M	$2.8M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02448	+0.119%	$1.5M	$768K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02447	+0.082%	$207K	$420K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02443	−0.082%	$174K	$59K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02445	0.000%	$585K	$159K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02447	+0.082%	$178K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02452	+0.286%	$282K	$93K	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	0.02445	long leg	—	$6.6M	—
Variational Omni STABLEshort	+0.0100%	4h	0.02448	+0.126%	$143K	$8K	—
SunX STABLE-USDT	+0.0100%	4h	0.02445	0.000%	$2K	$900K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02443	−0.068%	$12K	$232K	10x	as long as short
BloFin STABLE-USDT	+0.0110%	4h	0.02443	−0.082%	$114K	$7K	75x	as long as short