Funding arb · Price arb /

IO

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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: Variational Omni against BingX−0.170%7-day average — · you buy dearer than you sell

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)—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: Variational Omni is 0.170% cheaper against BingX than usual: you would sell low and buy high, −$17 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	BingX IO-USDT	0.1509	0.0100	pay 0.0050% / 4h	2h 28m	—	$1.3M	—
Short	Variational Omni IO	0.1506	0.0100	get 0.0050% / 4h	2h 28m	$30K	$5K	—

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 −0.170%Rate

Funding earned: $0
Price spread: −0.170% → 0.000%: −$17.02
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$27.02
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 8 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 BingX live order book, 8 min ago	6.65 bp	20.6 bp −$21	55.6 bp −$556	473.2 bp −$47.3K	597.3 bp −$298.6K
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.

IO 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
Injective IO/USDC PERP	−0.0157%	1h	0.1506	−0.199%	$2K	$102	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1509	−0.013%	$1.0M	$393K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1509	+0.019%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1510	+0.066%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1510	+0.066%	$1.1M	$865K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1509	+0.020%	$231K	$542K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1508	−0.066%	$1.1M	$239K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1508	−0.066%	$402K	$654K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1509	0.000%	$1.4M	$1.1M	50x	as long as short
BingX IO-USDTlong	+0.0100%	4h	0.1509	long leg	—	$1.3M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IOshort	+0.0100%	4h	0.1506	−0.170%	$30K	$5K	—
Extended IO-USD	+0.0104%	1h	0.1508	−0.077%	$5K	$171K	5x	as long as short
BloFin IO-USDT	+0.0117%	4h	0.1510	+0.066%	$192K	$30K	50x	as long as short
Kraken Futures PF_IOUSD	+0.5445%	1h	0.1510	+0.053%	$39K	$21K	10x	as long as short