Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.5194 | +0.0819 | pay 0.0102% / 1h | 33m 06s | $47K | $115K | 20x | Long Kraken Futures | |
| SHORT | 0.5212 | +0.0100 | get 0.0050% / 4h | 2h 33m | $2.1M | $3.3M | 50x | Short Variational Omni+15% pts |
Price gap+0.337%
Funding gap−0.0719% /8h
The gap pays +$39 on $10k if it goes back to its 7d average, but funding costs $22 a day and eats that in about 43 hours.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$178−0.0719% /8h now · paid −1.779% over the last 4 days (all we have)
Price+$39spread +0.337% now, avg −0.054% → +0.391% if it goes back
Costs−$1291.290% of $10k · taker + slippage, in and out
Result−$268−2.68%+ Points / potential airdropVariational Omni: points · farm boardWhat the last 7D really paid, hour by hour → backtest
Funding history
you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.
Price spread between the two exchanges
Variational Omni price against Kraken Futuresnow
RANGE STATS · 7D
Now+0.337%
Average—
Range—
Wider than now—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPONS on 31 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Watch: Thin at this size40.5 / 32.6 bpAt $10k entering Kraken Futures costs 40.5 bp, fee and slippage, 1.2× Variational Omni’s.
- Note: Margin at max leverage$500 + $200Kraken Futures 20x, Variational Omni 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 4hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$21.57Long Kraken Futures: 24 payments, −$24.57; short Variational Omni: 6 payments, +$3.00.
- OK: Entry gap works for you+0.337% vs −0.054%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$47K vs $2.1M OIKraken Futures sets your exit cost. Check its book before closing.
- OK: Points on a legVariational Omni pointsVolume here counts toward the points program.
- Watch: KYCKraken Futures Yes · Variational Omni NoFull verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.1349%/8h × 21 periods−$283.38
Price spread+0.337% → −0.054% (7d avg)+$39.08
Slippage, 4 orderslive order books−$118.97
Fee Kraken Futures bp × 2 orders−$10.00
Fee Variational Omni bp × 2 orders$0.00
Net · 7 days · $10k−$373.28
Costs to cover1.290%Break-evennever at this rate
Slippage: Kraken Futures: live order book, 50 min ago; Variational Omni: RFQ quote, 1 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGKraken Futures9.5740.5 bp−$41doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTVariational Omni5.7532.6 bp−$3355.6 bp−$556doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-29 11:00 | gTrade (Gains Network) | Listing | PONS/USD no longer reported ($PONS) seen by our collector |
| 09-29 02:27 | Arcus | Listing | $PONS perpetuals are now live on Arcus. Up to 4x leverage. @arcus_xyz on X ↗ |
| 09-28 19:23 | Arcus | Listing | new market PONS-USD ($PONS) seen by our collector |
| 09-25 11:16 | Kraken Futures | Listing | new market PF_PONSUSD ($PONS) seen by our collector |
| 09-22 17:11 | Avantis | Listing | new market PONS/USD ($PONS) seen by our collector |
| 09-22 13:03 | Bybit | Other | 📣 $PONS is officially listed on #BybitSpot with @ponsdotfamily! Pons is a token launchpad on the Robinhood blockchain, where users can pair tokens with Stock Tokens, ETH, USDG, and more. Tokens are launched through a "fair launch" process with a bonding curve. @Bybit_Official on X ↗ |
gTrade (Gains Network)
Arcus
Avantis
Bybit