Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.5172 | +0.0100 | pay 0.0050% / 4h | 1h 49m | $2.1M | $3.4M | 50x | Long Variational Omni+15% pts | |
| SHORT | 0.5185 | +0.0978 | get 0.0122% / 1h | 49m 04s | $47K | $114K | 20x | Short Kraken Futures |
Price gap+0.241%
Funding gap+0.0878% /8h
Both sides work: funding pays +$26 a day on $10k, and the gap is 0.192% above its 7d average: +$19 more if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$179+0.0878% /8h now · paid +1.789% over the last 4 days (all we have)
Price+$19spread +0.241% now, avg +0.048% → +0.192% if it goes back
Costs−$1181.178% of $10k · taker + slippage, in and out
Result+$80+0.80%+ 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
Kraken Futures price against Variational Omninow
RANGE STATS · 7D
Now+0.241%
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 size30.9 / 30.7 bpAt $10k entering Variational Omni costs 30.9 bp, fee and slippage, 1.0× Kraken Futures’s.
- Note: Margin at max leverage$200 + $500Variational Omni 50x, Kraken Futures 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ4h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: +$26.33Long Variational Omni: 6 payments, −$3.00; short Kraken Futures: 24 payments, +$29.33.
- OK: Entry gap works for you+0.241% vs +0.048%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short 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: KYCVariational Omni No · Kraken Futures YesFull 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+0.1348%/8h × 21 periods+$283.06
Price spread+0.241% → +0.048% (7d avg)+$19.24
Slippage, 4 orderslive order books−$107.84
Fee Variational Omni bp × 2 orders$0.00
Fee Kraken Futures bp × 2 orders−$10.00
Net · 7 days · $10k+$184.46
Costs to cover1.178%Break-even2.4 days
Slippage: Variational Omni: RFQ quote, 5 min ago; Kraken Futures: live order book, 29 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGVariational Omni4.8330.9 bp−$3153.2 bp−$532doesn’t fitdoesn’t fit
SELL · SHORTKraken Futures6.7030.7 bp−$31doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-29 11:00 | gTrade (Gains Network) | Listing | PONS/USD no longer reported ($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