Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0246%/8h= −27.0% APRpaid last 24h +0.005%

Price spread now: Variational Omni against Kraken Futures−0.239%7-day average −0.069% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.476%−$48 · spread now −0.239%, 7d avg −0.069%

Together, before fees−0.472%+ Points / potential airdropVariational Omni: Active · farm board−$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.170% cheaper against Kraken Futures than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.069%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.004% in total (about 0.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ARBUSD	0.2242	0.0085	pay 0.0011% / 1h	38m 46s	$1.1M	$5.2M	50x
Short	Variational Omni ARB	0.2236	−0.0162	pay 0.0162% / 8h	1h 38m	$1.9M	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.239%Rate

Funding earned: −$51.74
Price spread: −0.239% → −0.069%: −$17.05
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$78.79
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 5 min ago; Variational Omni: RFQ quote, just now. 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 Kraken Futures live order book, 5 min ago	6.04 bp	13.1 bp −$13	22.0 bp −$220	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	6.71 bp	doesn't fit	20.1 bp −$201	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1770%	1h	0.2226	−0.703%	$40K	$283K	12x	as long as short
01 Exchange ARBUSD	−0.0224%	1h	0.2237	−0.203%	$7K	$2K	10x	as long as short
Variational Omni ARBshort	−0.0162%	8h	0.2236	−0.239%	$1.9M	$2.8M	—
Bybit ARBUSDT	−0.0138%	8h	0.2240	−0.065%	$57.7M	$135.7M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0100%	8h	0.2242	+0.020%	$22.4M	$163.8M	50x	as long as short
MEXC ARB_USDT	−0.0099%	8h	0.2241	−0.029%	$37.4M	$62.4M	200x	as long as short
SoDEX ARB-USD	−0.0069%	1h	0.2240	−0.087%	$4K	$2.8M	5x	as long as short
Polymarket Perps ARB-USD	−0.0064%	1h	0.2237	−0.199%	$76K	$2.2M	10x	as long as short
Orderly PERP_ARB_USDC	−0.0027%	8h	0.2238	−0.167%	$10K	$394K	10x	as long as short
Binance ARBUSDT	−0.0009%	8h	0.2241	−0.042%	$64.0M	$322.6M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ARB-USD	−0.0008%	1h	0.2239	−0.112%	$355K	$2.4M	25x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2241	−0.030%	$66K	$4K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2239	−0.118%	$26K	$32K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2239	−0.133%	$56K	—	150x	as long as short
Gate ARB_USDT	+0.0026%	8h	0.2240	−0.083%	$5.5M	$20.7M	60x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2239	−0.127%	$146K	$12K	3x	as long as short
BingX ARB-USDC	+0.0081%	8h	0.2238	−0.172%	—	$6.5M	—	as long as short
Bitget ARBUSDT	+0.0082%	8h	0.2240	−0.078%	$21.0M	$38.0M	50x	as long as short
Kraken Futures PF_ARBUSDlong	+0.0085%	1h	0.2242	long leg	$1.1M	$5.2M	50x
Lighter ARB	+0.0096%	1h	0.2242	+0.020%	$1.3M	$7.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2242	+0.029%	$40.0M	$50.9M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2239	−0.104%	$696K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2242	−0.002%	$45K	$197K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2241	−0.047%	$20.6M	$16.8M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2235	−0.307%	$40K	$460K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2235	−0.280%	$481K	$4.0M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2235	−0.301%	$121K	$294K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2240	−0.078%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2239	−0.123%	$276K	$1.2M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2238	−0.167%	$5.2M	$13.5M	50x	as long as short
BloFin ARB-USDT	+0.0109%	8h	0.2240	−0.074%	$3.0M	$3.3M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0264%	1h	0.2243	+0.051%	$509K	$2.4M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0274% / S −0.0157%	1h	0.2239	−0.116%	$837K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0291%	1h	0.2238	−0.189%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0363%	1h	0.2240	−0.097%	$494K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0624%	1h	0.2244	+0.096%	$1.1M	$2.7M	20x	as long as short