Funding arb · Price arb /

STABLE

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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 0.000%

Price spread now: BingX against Variational Omni−0.105%7-day average −0.018% · you buy dearer than you sell

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 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.105%, 7d avg −0.018%

Together, before fees+0.108%+ Points / potential airdropVariational Omni: Active · farm board+$11 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: BingX is 0.087% cheaper against Variational Omni than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni STABLE	0.02451	0.0100	pay 0.0050% / 4h	3h 59m	$144K	$50K	—
Short	BingX STABLE-USDT	0.02448	0.0100	get 0.0050% / 4h	3h 59m	—	$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

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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 Variational OmnibpFee BingXbpOrdersPrice spread, now −0.105%Rate

Funding earned: $0
Price spread: −0.105% → −0.018%: −$8.67
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$18.67
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 59 min ago; BingX: live order book, 2 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 RFQ quote, 59 min ago	12.11 bp	doesn't fit	274.4 bp −$2,744	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	6.13 bp	30.9 bp −$31	88.2 bp −$882	626.2 bp −$62.6K	1218.6 bp −$609.3K

STABLE on 15 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
Lighter STABLE	+0.0096%	1h	0.02461	+0.434%	$113K	$6K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02445	−0.248%	$859K	$188K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02449	−0.062%	$19K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02447	−0.143%	$2.5M	$2.8M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02448	−0.089%	$1.5M	$814K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02443	−0.309%	$203K	$415K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02446	−0.187%	$175K	$59K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02447	−0.146%	$585K	$159K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02453	+0.099%	$178K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02449	−0.064%	$281K	$93K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDTshort	+0.0100%	4h	0.02448	−0.105%	—	$6.6M	—
Variational Omni STABLElong	+0.0100%	4h	0.02451	long leg	$144K	$50K	—
SunX STABLE-USDT	+0.0100%	4h	0.02447	−0.142%	$1K	$886K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02446	−0.175%	$12K	$132K	10x	as long as short
BloFin STABLE-USDT	+0.0138%	4h	0.02444	−0.268%	$116K	$7K	75x	as long as short