Funding arb · Price arb /

KSM

all KSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.146%

Price spread now: Variational Omni against OKX−0.311%7-day average −0.072% · you buy dearer than you sell

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.720%−$72 on $10k

Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.311%, 7d avg −0.072%

Together, before fees−0.686%+ Points / potential airdropVariational Omni: Active · farm board−$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.239% cheaper against OKX than usual: you would sell low and buy high (spread −0.311% now, against its 7-day average of −0.072%). If the spread goes back, that is −$24 on $10k: about 25 days of funding at the current rate (+$1 a day). Mind the row above: over the last 4 days funding on this pair cost −0.720%, 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	OKX KSM-USDT-SWAP	4.5910	−0.0444	get 0.0222% / 4h	2h 19m	$754K	$639K	20x
Short	Variational Omni KSM	4.5767	−0.0412	pay 0.0412% / 8h	2h 19m	$450K	$38K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. 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 OKXbpFee Variational OmnibpOrdersPrice spread, now −0.311%Rate

Funding earned: $6.79
Price spread: −0.311% → −0.072%: −$23.92
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$27.13
Costs to cover: 0.100%
Break-even: 35.0 days

Slippage unknown: OKX: live order book, 27 min ago; Variational Omni: RFQ quote, 29 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 OKX live order book, 27 min ago	5.44 bp	25.6 bp −$26	3394.5 bp −$33.9K	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 29 min ago	7.05 bp	doesn't fit	81.0 bp −$810	doesn't fit	doesn't fit

KSM on 12 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_KSMUSD	−0.0491%	1h	4.5968	+0.126%	$37K	$1K	20x	as long as short
OKX KSM-USDT-SWAPlong	−0.0444%	4h	4.5910	long leg	$754K	$639K	20x
Variational Omni KSMshort	−0.0412%	8h	4.5767	−0.311%	$450K	$38K	—
BloFin KSM-USDT	+0.0080%	8h	4.5810	−0.218%	$109K	$18K	50x	as long as short
Binance KSMUSDT	+0.0100%	8h	4.5970	+0.131%	$2.0M	$2.8M	50x	as long as short
Bybit KSMUSDT	+0.0100%	8h	4.5950	+0.087%	$2.2M	$666K	50x	as long as short
Gate KSM_USDT	+0.0100%	8h	4.5940	+0.065%	$84K	$38K	33x	as long as short
MEXC KSM_USDT	+0.0100%	8h	4.5950	+0.087%	$732K	$241K	20x	as long as short
KuCoin KSMUSDTM	+0.0100%	8h	4.5980	+0.152%	$508K	$32K	30x	as long as short
Bitget KSMUSDT	+0.0100%	8h	4.5930	+0.044%	$480K	$204K	50x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX KSM-USDT	+0.0100%	8h	4.5940	+0.065%	—	$2.4M	—	as long as short
Extended KSM-USD	+0.0104%	1h	4.5933	+0.050%	$77K	$424K	5x	as long as short