Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0338%/8h= +37.0% APRpaid last 24h +0.028%

Price spread now: Variational Omni against Kraken Futures−0.071%7-day average — · 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)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.071% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.071% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 17 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AXSUSD	1.0845	−0.0238	get 0.0030% / 1h	1m 22s	$142K	$315K	20x
Short	Variational Omni AXS	1.0838	0.0100	get 0.0100% / 8h	1m 22s	$37K	$4K	—

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 −0.071%Rate

Funding earned: $70.94
Price spread: −0.071% → 0.000%: −$7.1
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: $53.84
Costs to cover: 0.100%
Break-even: 1.7 days

Slippage unknown: Kraken Futures: live order book, 11 min ago; Variational Omni: no order-book sample. 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, 11 min ago	2.78 bp	21.3 bp −$21	94.4 bp −$944	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AXS on 20 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_AXSUSDlong	−0.0238%	1h	1.0845	long leg	$142K	$315K	20x
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−1.155%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0080%	4h	1.0840	−0.048%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0851	+0.053%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0832	−0.122%	$266K	$297K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0827	−0.168%	$74K	$12K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0827	−0.168%	$6.1M	$9.6M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0843	−0.021%	$3.7M	$4.1M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0829	−0.150%	$1.4M	$3.0M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0826	−0.177%	$975K	$1.0M	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDT	+0.0100%	4h	1.0823	−0.205%	$11.5M	$753K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0830	−0.140%	$614K	$304K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0830	−0.140%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0825	−0.187%	—	$2.6M	—	as long as short
Variational Omni AXSshort	+0.0100%	8h	1.0838	−0.071%	$37K	$4K	—
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0775	−0.646%	$764K	$906K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0832	−0.122%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0838	−0.067%	$726	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0826	−0.182%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0122%	4h	1.0831	−0.131%	$274K	$18K	75x	as long as short