Funding arb · Price arb /

ONG

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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 +0.199%

Price spread now: Variational Omni against BingX+0.021%7-day average +0.416% · 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 4 days (all we have)−0.936%−$94 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now +0.021%, 7d avg +0.416%

Together, before fees−0.765%+ Points / potential airdropVariational Omni: Active · farm board−$76 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 0.395% cheaper against BingX than usual: you would sell low and buy high, −$40 on $10k if it goes back to its 7-day average of +0.416%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONG-USDT	0.09055	0.0100	pay 0.0050% / 4h	1h 33m	—	$1.4M	—
Short	Variational Omni ONG	0.09057	0.0100	get 0.0050% / 4h	1h 33m	$131K	$43K	—

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 +0.021%Rate

Funding earned: $0
Price spread: +0.021% → +0.416%: −$39.52
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$49.52
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 3 min ago; Variational Omni: RFQ quote, 10 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, 3 min ago	2.21 bp	9.9 bp −$10	29.9 bp −$299	238.5 bp −$23.9K	433.1 bp −$216.5K
Sell Variational Omni RFQ quote, 10 min ago	6.62 bp	doesn't fit	380.5 bp −$3,805	doesn't fit	doesn't fit

ONG on 10 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
HTX ONG-USDT	−0.1179%	4h	0.09023	−0.353%	$28K	$38K	20x	as long as short
Extended ONG-USD	0.0000%	1h	0.09053	−0.021%	$170K	$20K	5x	as long as short
MEXC ONG_USDT	0.0000%	4h	0.09055	0.000%	$9.9M	$415K	20x	as long as short
Binance ONGUSDT	+0.0001%	4h	0.09057	+0.023%	$6.3M	$15.9M	50x	as long as short
Aster ONGUSDT	+0.0100%	1h	0.09065	+0.110%	$69K	$54K	5x	as long as short
Bybit ONGUSDT	+0.0100%	4h	0.09060	+0.055%	$2.4M	$3.0M	20x	as long as short
Gate ONG_USDT	+0.0100%	4h	0.09053	−0.022%	$350K	$368K	20x	as long as short
Bitget ONGUSDT	+0.0100%	4h	0.09061	+0.066%	$1.4M	$1.3M	50x	as long as short
BingX ONG-USDTlong	+0.0100%	4h	0.09055	long leg	—	$1.4M	—
Variational Omni ONGshort	+0.0100%	4h	0.09057	+0.021%	$131K	$43K	—