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 +0.018%

Price spread now: KuCoin against Variational Omni+0.862%7-day average +0.108% · you sell dearer than you buy

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

Long on Variational Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.180%+$18 on $10k

Price spread, last 4 days (all we have)−0.911%−$91 · spread now +0.862%, 7d avg +0.108%

Together, before fees−0.731%+ Points / potential airdropVariational Omni: Active · farm board−$73 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: KuCoin is 0.754% dearer against Variational Omni than usual: you sell high and buy low, +$75 on $10k if it goes back to its 7-day average of +0.108%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AR	4.5012	0.0100	pay 0.0100% / 8h	5h 41m	$234K	$258K	—
Short	KuCoin ARUSDTM	4.5400	0.0100	get 0.0100% / 8h	5h 41m	$1.2M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.862%Rate

Funding earned: $0
Price spread: +0.862% → +0.108%: $75.39
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $63.39
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 23 min ago; KuCoin: live order book, 4 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, 23 min ago	4.91 bp	doesn't fit	146.8 bp −$1,468	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	5.54 bp	102.8 bp −$103	555.6 bp −$5,556	doesn't fit	doesn't fit

AR on 17 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
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5429	+0.927%	$584K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0092%	8h	4.5370	+0.795%	$2.3M	$19.0M	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5290	+0.617%	$548	$3K	5.5x	as long as short
Extended AR-USD	+0.0096%	1h	4.5408	+0.880%	$37K	$239K	10x	as long as short
MEXC AR_USDT	+0.0097%	8h	4.5400	+0.862%	$6.6M	$4.3M	100x	as long as short
Binance ARUSDT	+0.0098%	8h	4.5410	+0.884%	$9.1M	$51.6M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5506	+1.097%	$4.1M	$4.6M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5453	+0.981%	$19K	$500K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5402	+0.866%	$4.7M	$8.4M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5430	+0.928%	$2.5M	$1.9M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTMshort	+0.0100%	8h	4.5400	+0.862%	$1.2M	$1.2M	50x
Bitget ARUSDT	+0.0100%	8h	4.5370	+0.795%	$3.9M	$5.3M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5410	+0.884%	—	$2.8M	—	as long as short
Variational Omni ARlong	+0.0100%	8h	4.5012	long leg	$234K	$258K	—
ApeX Omni ARUSDT	+0.0100%	1h	4.5490	+1.062%	$20K	$725K	50x	as long as short
BloFin AR-USDT	+0.0218%	8h	4.5450	+0.973%	$438K	$499K	20x	as long as short
Kraken Futures PF_ARUSD	+0.1923%	1h	4.5470	+1.016%	$56K	$149K	20x	as long as short