Funding arb · Price arb /

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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: Variational Omni against KuCoin−0.510%7-day average −0.009% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.482%+$48 · spread now −0.510%, 7d avg −0.009%

Together, before fees+0.482%+ Points / potential airdropVariational Omni: Active · farm board+$48 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 0.501% cheaper against KuCoin than usual: you would sell low and buy high, −$50 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ADAUSDTM	0.2478	0.0100	pay 0.0100% / 8h	4h 01m	$30.0M	$15.0M	75x
Short	Variational Omni ADA	0.2465	0.0100	get 0.0100% / 8h	4h 01m	$4.3M	$1.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.510%Rate

Funding earned: $0
Price spread: −0.510% → −0.009%: −$50.12
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$62.12
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 7 min ago; Variational Omni: RFQ quote, 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 KuCoin live order book, 7 min ago	2.63 bp	13.4 bp −$13	19.2 bp −$192	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	8.11 bp	doesn't fit	12.2 bp −$122	doesn't fit	doesn't fit

ADA on 37 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
dYdX ADA-USD	0.0000%	1h	0.2474	−0.169%	$203K	$2K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2478	+0.012%	$167K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2476	−0.054%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.270%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTX	+0.0080%	1h	0.2473	−0.190%	$419K	$7.8M	50x	as long as short
Kraken Futures PF_ADAUSD	+0.0091%	1h	0.2478	−0.003%	$6.3M	$12.5M	50x	as long as short
Lighter ADA	+0.0096%	1h	0.2479	+0.061%	$2.4M	$1.1M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2478	+0.012%	$1.2M	$990K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2475	−0.094%	$161K	$160K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2477	−0.019%	$104.9M	$370.3M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2477	−0.028%	$72.3M	$108.5M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2478	+0.012%	$33.1M	$105.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2476	−0.069%	$99.0M	$59.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2476	−0.069%	$61.8M	$61.2M	300x	as long as short
KuCoin ADAUSDTMlong	+0.0100%	8h	0.2478	long leg	$30.0M	$15.0M	75x
Bitget ADAUSDT	+0.0100%	8h	0.2477	−0.028%	$66.7M	$49.2M	75x	as long as short
BingX ADA-USDC	+0.0100%	8h	0.2478	+0.012%	—	$6.5M	—	as long as short
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2479	+0.040%	$131K	$441K	15x	as long as short
Variational Omni ADAshort	+0.0100%	8h	0.2465	−0.510%	$4.3M	$1.1M	—
edgeX ADAUSDC	+0.0100%	4h	0.2465	−0.494%	$65K	$285K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2468	−0.391%	$298K	$3.9M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2465	−0.513%	$227K	$748K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2478	0.000%	$95K	$690K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2478	+0.012%	$6K	$5K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2479	+0.046%	$40K	$2K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2479	+0.050%	$9K	$729K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2478	+0.012%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2478	−0.004%	$1.3M	$6.3M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2478	+0.012%	$48.4M	$6.6M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2478	+0.024%	$536K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0110%	8h	0.2477	−0.022%	$21K	$250	20x	as long as short
Phoenix ADA	+0.0195%	1h	0.2472	−0.238%	$4K	$100K	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2474	−0.149%	$4.6M	$5.8M	75x	as long as short
Hyperliquid ADA	+0.0243%	1h	0.2478	+0.032%	$43.7M	$15.2M	10x	as long as short
Reya ADARUSDPERP	+0.0278%	1h	0.2478	−0.008%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0596% / S −0.0547%	1h	0.2477	−0.038%	$133K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0719%	1h	0.2479	+0.061%	$601K	$488K	50x	as long as short