Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.4242%/8h= +464.5% APRpaid last 24h +0.900%

Price spread now: Kraken Futures against Variational Omni+0.404%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Kraken Futures

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

Both sides work for this trade now. Funding pays +$127 a day on $10k at the current rate, and Kraken Futures is 0.404% dearer against Variational Omni than usual: you sell high and buy low: +$40 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NOT	0.0005085	−0.0064	get 0.0032% / 4h	55m 13s	$72K	$39K	—
Short	Kraken Futures PF_NOTUSD	0.0005105	0.4178	get 0.0522% / 1h	55m 13s	$50K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.404%Rate

Funding earned: $890.9
Price spread: +0.404% → 0.000%: $40.4
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $921.31
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Kraken Futures: 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Kraken Futures no order-book sample	—	—	—	—	—

Variational Omni and Kraken Futures: 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.

NOT on 16 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
Variational Omni NOTlong	−0.0064%	4h	0.0005085	long leg	$72K	$39K	—
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.146%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005101	+0.320%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005100	+0.299%	$373K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005098	+0.263%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005092	+0.141%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005089	+0.082%	$2.2M	$824K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005095	+0.200%	$621K	$600K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005090	+0.102%	$142K	$78K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005092	+0.141%	$1.4M	$458K	200x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0005092	+0.141%	$464K	$138K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005098	+0.259%	$669K	$384K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005092	+0.141%	—	$7.5M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005091	+0.121%	$4K	$1K	5x	as long as short
BloFin NOT-USDT	+0.0136%	4h	0.0005095	+0.200%	$111K	$17K	50x	as long as short
Kraken Futures PF_NOTUSDshort	+0.4178%	1h	0.0005105	+0.404%	$50K	$10K	10x