Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.3515%/8h= +384.9% APRpaid last 24h −1.280%

Price spread now: Variational Omni against Kraken Futures−0.525%7-day average −0.275% · 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)−2.129%−$213 on $10k

Price spread, last 3 days (all we have)+0.255%+$25 · spread now −0.525%, 7d avg −0.275%

Together, before fees−1.874%+ Points / potential airdropVariational Omni: Active · farm board−$187 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.250% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.525% now, against its 7-day average of −0.275%). If the spread goes back, that is −$25 on $10k: about 6 hours of funding at the current rate (+$105 a day). Mind the row above: over the last 3 days funding on this pair cost −2.129%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ATHUSD	0.005573	−0.3563	get 0.0445% / 1h	3m 41s	$19K	$106K	10x
Short	Variational Omni ATH	0.005544	−0.0047	pay 0.0024% / 4h	3m 41s	$186K	$94K	—

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

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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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.525%Rate

Funding earned: $738.25
Price spread: −0.525% → −0.275%: −$25.03
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: $703.22
Costs to cover: 0.100%
Break-even: 0.3 days

Slippage unknown: Kraken Futures: live order book, 8 min ago; Variational Omni: RFQ quote, 10 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 Kraken Futures live order book, 8 min ago	12.61 bp	75.0 bp −$75	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 10 min ago	8.11 bp	doesn't fit	118.1 bp −$1,181	doesn't fit	doesn't fit

ATH on 13 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
Kraken Futures PF_ATHUSDlong	−0.3563%	1h	0.005573	long leg	$19K	$106K	10x
Variational Omni ATHshort	−0.0047%	4h	0.005544	−0.525%	$186K	$94K	—
dYdX ATH-USD	0.0000%	1h	0.005579	+0.110%	$11K	$16	5x	as long as short
OKX ATH-USDT-SWAP	+0.0066%	4h	0.005577	+0.071%	$707K	$1.2M	20x	as long as short
BloFin ATH-USDT	+0.0093%	4h	0.005552	−0.377%	$171K	$68K	75x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005579	+0.110%	$4K	$38K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005584	+0.197%	$3.4M	$3.8M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005572	−0.018%	$4.4M	$2.3M	25x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005575	+0.036%	$795K	$521K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005586	+0.233%	$9.0M	$589K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005575	+0.036%	$569K	$78K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005581	+0.143%	$1.6M	$814K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005578	+0.089%	—	$21.3M	—	as long as short