Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: BingX against Variational Omni+0.036%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 3 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 0.036% dearer against Variational Omni than usual: you sell high and buy low, +$4 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 INIT	0.08169	0.0100	pay 0.0050% / 4h	2h 48m	$26K	$23K	—
Short	BingX INIT-USDT	0.08172	0.0100	get 0.0050% / 4h	2h 48m	—	$6.6M	—

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 +0.036%Rate

Funding earned: $0
Price spread: +0.036% → 0.000%: $3.62
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$6.38
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; BingX: live order book, 3 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, 3 min ago	4.28 bp	25.7 bp −$26	80.3 bp −$803	489.3 bp −$48.9K	819.5 bp −$409.8K

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.

INIT on 13 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
BloFin INIT-USDT	+0.0042%	4h	0.08167	−0.025%	$154K	$110K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08169	+0.001%	$297K	$235K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08175	+0.067%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08171	+0.024%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08171	+0.024%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08183	+0.171%	$132K	$631K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08168	−0.013%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08171	+0.024%	$444K	$215K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08177	+0.097%	$325K	$56K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08172	+0.036%	$427K	$311K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDTshort	+0.0100%	4h	0.08172	+0.036%	—	$6.6M	—
Variational Omni INITlong	+0.0100%	4h	0.08169	long leg	$26K	$23K	—
Kraken Futures PF_INITUSD	+0.0535%	1h	0.08173	+0.049%	$6K	$17K	10x	as long as short