Funding you earn now, next payment 01:00 UTC−0.0335%/8h= −36.6% APRpaid last 24h −0.106%
Price spread now: Variational Omni against Kraken Futures−0.207%7-day average −0.135% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.116%−$12 on $10k
+Price spread, last 3 days (all we have)+0.085%+$9 · spread now −0.207%, 7d avg −0.135%
=Together, before fees−0.030%+ Points / potential airdropVariational Omni: Active · farm board−$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Variational Omni is 0.072% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.135%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_OPUSD | 0.1265 | 0.0384 | pay 0.0048% / 1h | 40m 33s | $798K | $754K | 20x |
| Short | Variational Omni OP | 0.1263 | 0.0049 | get 0.0049% / 8h | 7h 40m | $230K | $47K | — |
Kraken Futures PF_OPUSD
Variational Omni OPFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$70.25
- Price spread: −0.207% → −0.135%
- −$7.2
- 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
- −$87.45
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 33 min ago; Variational Omni: RFQ quote, 33 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, 33 min ago | 14.13 bp | 31.8 bp −$32 | 172.3 bp −$1,723 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 33 min ago | 7.85 bp | doesn't fit | 23.5 bp −$235 | doesn't fit | doesn't fit |
OP on 30 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 OP/USDC PERP | −0.1656% | 1h | 0.1259 | −0.484% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1264 | −0.067% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0352% | 1h | 0.1262 | −0.247% | $21K | $64K | 50x | as long as short |
| Bybit OPUSDT | −0.0115% | 8h | 0.1264 | −0.081% | $18.4M | $26.0M | 75x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1264 | −0.081% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1264 | −0.089% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1264 | −0.081% | — | — | 150x | as long as short |
| Variational Omni OPshort | +0.0049% | 8h | 0.1263 | −0.207% | $230K | $47K | — | |
| Orderly PERP_OP_USDC | +0.0057% | 8h | 0.1264 | −0.089% | $6K | $49K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1265 | +0.006% | $283K | $948K | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
Bybit OPUSDT
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OP | +0.0100% | 1h | 0.1266 | +0.046% | $4.0M | $2.9M | 5x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1265 | −0.014% | $211K | $236K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1265 | −0.018% | $20.5M | $62.0M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1264 | −0.081% | $6.1M | $29.9M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1265 | −0.002% | $1.9M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1264 | −0.105% | $20.1M | $7.3M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1264 | −0.089% | $2.9M | $7.2M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1265 | −0.010% | $6.0M | $6.4M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1265 | −0.049% | — | $6.8M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1263 | −0.152% | $121K | $189K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1266 | +0.087% | $4K | $390K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1266 | +0.054% | $311K | $4.9M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1267 | +0.148% | $43K | $723K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1264 | −0.112% | $181 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1264 | −0.057% | $175K | $235K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1264 | −0.090% | $101K | $327K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1265 | −0.049% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1265 | −0.049% | $1.0M | $270K | 75x | as long as short |
| Kraken Futures PF_OPUSDlong | +0.0384% | 1h | 0.1265 | long leg | $798K | $754K | 20x | |
| Reya OPRUSDPERP | +0.0438% | 1h | 0.1264 | −0.067% | $703 | — | 20x | as long as short |
Hyperliquid OP
Aster OPUSDT
Binance OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT
Reya OPRUSDPERP