Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Variational Omni against Binance+0.377%7-day average −0.071% · you sell dearer than you buy

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

Long on Binance Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.230%−$23 · spread now +0.377%, 7d avg −0.071%

Together, before fees−0.252%+ Points / potential airdropVariational Omni: Active · farm board−$25 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 0.448% dearer against Binance than usual: you sell high and buy low, +$45 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003410	0.0100	pay 0.0050% / 4h	23m 41s	$16.5M	$59.6M	75x
Short	Variational Omni 1000BONK	0.000003423	0.0100	get 0.0050% / 4h	23m 41s	$311K	$133K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Binance. 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 BinancebpFee Variational OmnibpOrdersPrice spread, now +0.377%Rate

Funding earned: $0
Price spread: +0.377% → −0.071%: $44.82
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $34.82
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 4 min ago; Variational Omni: RFQ quote, 35 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 Binance live order book, 4 min ago	1.46 bp	11.9 bp −$12	24.9 bp −$249	225.6 bp −$22.6K	doesn't fit
Sell Variational Omni RFQ quote, 35 min ago	5.95 bp	doesn't fit	47.6 bp −$476	doesn't fit	doesn't fit

BONK on 31 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
Coinbase International 1000BONK-PERP-INTX	−0.0320%	1h	0.000003412	+0.059%	$43K	$35K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003407	−0.078%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003412	+0.047%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.988%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0074%	4h	0.000003413	+0.088%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003411	+0.027%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003411	+0.029%	$223K	$672K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003411	+0.029%	$31K	$101K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003415	+0.161%	$79K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003410	0.000%	$113K	$109K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003410	long leg	$16.5M	$59.6M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003410	−0.015%	$10.8M	$18.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003409	−0.029%	$2.5M	$9.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003409	−0.029%	$812K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003409	−0.029%	$9.1M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003410	−0.015%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003405	−0.147%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003410	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003423	+0.377%	$311K	$133K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003423	+0.381%	$58K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003418	+0.235%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003414	+0.117%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003411	+0.029%	$97K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003409	−0.041%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003410	0.000%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0107%	4h	0.000003424	+0.411%	$967K	$15.4M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.023%	$571	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0335%	1h	0.000003416	+0.176%	$30K	$7K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0336%	1h	0.000003414	+0.117%	$2K	$110K	10x	as long as short
Hyperliquid kBONK	+0.0761%	1h	0.000003417	+0.205%	$10.1M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2461%	1h	0.000003425	+0.446%	$221K	$177K	50x	as long as short