Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h +0.117%

Price spread now: Variational Omni against tradeXYZ+0.125%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on tradeXYZ 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 airdroptradeXYZ: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.125% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.125% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BX	126.27	0.0049	pay 0.0006% / 1h	10m 18s	$664K	$222K	10x
Short	Variational Omni BX	126.43	0	get 0.0000% / 8h	2h 10m	$43K	$12K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against tradeXYZ. 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 tradeXYZbpFee Variational OmnibpOrdersPrice spread, now +0.125%Rate

Funding earned: −$10.3
Price spread: +0.125% → 0.000%: $12.5
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$15.8
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 66 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 tradeXYZ live order book, 66 min ago	1.98 bp	28.0 bp −$28	doesn't fit	doesn't fit	doesn't fit
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.

BX 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
Aster BXUSDT	0.0000%	8h	126.30	+0.024%	$5K	$2K	20x	as long as short
Binance BXUSDT	0.0000%	8h	126.45	+0.140%	$776K	$496K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.45	+0.143%	$483K	$803K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.29	+0.016%	$163K	$112K	20x	as long as short
QFEX BX-USD	0.0000%	1h	126.92	+0.515%	$1.1M	$1.5M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.45	+0.143%	$422K	$25K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.42	+0.119%	$900K	$37K	20x	as long as short
Variational Omni BXshort	0.0000%	8h	126.43	+0.125%	$43K	$12K	—
GRVT BX_USDT_Perp	0.0000%	8h	126.39	+0.095%	$877	$106K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.44	+0.135%	$927	$310K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BX-USDT	0.0000%	8h	126.47	+0.158%	$7K	$4K	20x	as long as short
tradeXYZ xyz:BXlong	+0.0049%	1h	126.27	long leg	$664K	$222K	10x
KuCoin BXUSDTM	+0.0100%	8h	126.24	−0.024%	$114K	$841K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	138.74	+9.876%	$4K	$32K	12x	as long as short