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: Bybit against Variational Omni+0.135%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 Bybit

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: Bybit is 0.135% dearer against Variational Omni than usual: you sell high and buy low, +$14 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 55m	$26K	$23K	—
Short	Bybit INITUSDT	0.08180	0.0100	get 0.0050% / 4h	2h 55m	$1.4M	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.135%Rate

Funding earned: $0
Price spread: +0.135% → 0.000%: $13.52
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $2.52
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Bybit: live order book, 1 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 Bybit live order book, 1 min ago	4.89 bp	42.6 bp −$43	81.3 bp −$813	doesn't fit	doesn't fit

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	+0.0076%	4h	0.08165	−0.048%	$156K	$110K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08187	+0.222%	$297K	$238K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08173	+0.055%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08188	+0.237%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDTshort	+0.0100%	4h	0.08180	+0.135%	$1.4M	$1.4M	25x
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08195	+0.319%	$132K	$632K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08170	+0.013%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08186	+0.209%	$445K	$214K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08187	+0.221%	$326K	$56K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08179	+0.123%	$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-USDT	+0.0100%	4h	0.08179	+0.123%	—	$6.6M	—	as long as short
Variational Omni INITlong	+0.0100%	4h	0.08169	long leg	$26K	$23K	—
Kraken Futures PF_INITUSD	+0.0535%	1h	0.08179	+0.125%	$6K	$18K	10x	as long as short