Funding arb · Price arb /

RIVER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1033%/8h= −113.1% APRpaid last 24h +0.030%

Price spread now: Variational Omni against Kraken Futures+0.093%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Variational Omni

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

The price spread pays, funding is against you. Variational Omni is 0.093% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.093% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_RIVERUSD	1.2736	0.1256	pay 0.0157% / 1h	6m 14s	$57K	$70K	10x
Short	Variational Omni RIVER	1.2748	0.0223	get 0.0112% / 4h	2h 06m	$43K	$20K	—

Funding 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 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now +0.093%Rate

Funding earned: −$216.95
Price spread: +0.093% → 0.000%: $9.26
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: −$217.69
Costs to cover: 0.100%
Break-even: never at this rate

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

Kraken Futures and Variational Omni: 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.

RIVER on 15 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
Lighter RIVER	+0.0096%	1h	1.2740	+0.032%	$41K	$17K	3x	as long as short
KuCoin RIVERUSDTM	+0.0100%	4h	1.2720	−0.125%	$2.5M	$2.7M	50x	as long as short
GRVT RIVER_USDT_Perp	+0.0100%	4h	1.2703	−0.260%	$33K	$442K	10x	as long as short
SunX RIVER-USDT	+0.0100%	4h	1.2710	−0.204%	$1K	$1.1M	20x	as long as short
HTX RIVER-USDT	+0.0100%	4h	1.2770	+0.267%	$48K	$88K	20x	as long as short
OKX RIVER-USDT-SWAP	+0.0153%	4h	1.2750	+0.110%	$2.1M	$3.8M	20x	as long as short
Variational Omni RIVERshort	+0.0223%	4h	1.2748	+0.093%	$43K	$20K	—
Gate RIVER_USDT	+0.0304%	4h	1.2740	+0.032%	$429K	$103K	20x	as long as short
Bitget RIVERUSDT	+0.0330%	4h	1.2740	+0.032%	$3.0M	$1.9M	20x	as long as short
Binance RIVERUSDT	+0.0455%	4h	1.2740	+0.032%	$6.1M	$10.8M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC RIVER_USDT	+0.0462%	4h	1.2740	+0.032%	$3.8M	$1.6M	50x	as long as short
BingX RIVER-USDT	+0.0716%	4h	1.2740	+0.032%	—	$6.8M	—	as long as short
Aster RIVERUSDT	+0.0805%	4h	1.2720	−0.125%	$73K	$29K	10x	as long as short
Bybit RIVERUSDT	+0.0826%	4h	1.2730	−0.047%	$3.8M	$1.7M	25x	as long as short
Kraken Futures PF_RIVERUSDlong	+0.1256%	1h	1.2736	long leg	$57K	$70K	10x