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 −0.018%

Price spread now: Variational Omni against BingX+0.223%7-day average −0.097% · 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 3 days (all we have)−0.136%−$14 on $10k

Price spread, last 4 days (all we have)−0.216%−$22 · spread now +0.223%, 7d avg −0.097%

Together, before fees−0.353%+ Points / potential airdropVariational Omni: Active · farm board−$35 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 0.321% dearer against BingX than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AR-USDT	4.5300	0.0100	pay 0.0100% / 8h	5h 38m	—	$2.8M	—
Short	Variational Omni AR	4.5401	0.0100	get 0.0100% / 8h	5h 38m	$236K	$258K	—

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 +0.223%Rate

Funding earned: $0
Price spread: +0.223% → −0.097%: $32.07
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $22.07
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 10 min ago; Variational Omni: RFQ quote, 25 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, 10 min ago	4.44 bp	21.7 bp −$22	51.8 bp −$518	395.5 bp −$39.6K	769.6 bp −$384.8K
Sell Variational Omni RFQ quote, 25 min ago	4.91 bp	doesn't fit	146.1 bp −$1,461	doesn't fit	doesn't fit

AR on 17 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
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5392	+0.203%	$583K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0096%	8h	4.5290	−0.022%	$2.3M	$18.9M	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5290	−0.022%	$548	$3K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5403	+0.227%	$4.1M	$4.5M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5370	+0.154%	$19K	$500K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.5311	+0.024%	$9.0M	$51.6M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5312	+0.026%	$4.7M	$8.4M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5330	+0.066%	$2.5M	$1.9M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.5320	+0.044%	$6.6M	$4.3M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5380	+0.177%	$1.2M	$1.2M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.5290	−0.022%	$3.9M	$5.3M	75x	as long as short
BingX AR-USDTlong	+0.0100%	8h	4.5300	long leg	—	$2.8M	—
Variational Omni ARshort	+0.0100%	8h	4.5401	+0.223%	$236K	$258K	—
ApeX Omni ARUSDT	+0.0100%	1h	4.5490	+0.419%	$20K	$725K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.5314	+0.030%	$37K	$239K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.5420	+0.265%	$432K	$498K	20x	as long as short
Kraken Futures PF_ARUSD	+0.1923%	1h	4.5472	+0.379%	$56K	$149K	20x	as long as short