I've 2 code below and my question is:

1. Do you think which is the best practice and why?
2. Which one is good for performance?

Code 1

jQuery( function( $ ) {

    // Responsive video
    var $area = $( "#sidebar" );
    $area.fitVids();

    // Image gallery
    var $slider = $( ".owl-carousel" );
    $slider.owlCarousel();

});

Code 2

// Global jQuery variable
var $ = jQuery;

/**
 * Responsive video
 */
var fitvidsInit = function() {
    var $area = $( "#sidebar" );
    $area.fitVids();
};

/**
 * Slides
 */
var sliderInit = function() {
    var $slider = $( ".owl-carousel" );
    $slider.owlCarousel();
};

/**
 * Execute code
 */
$( function() {
    fitvidsInit();
    sliderInit();
} )

nb: I've to defined the variable $ because this is in WordPress area.