Funding arb · Price arb /

RUNE

all RUNE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1411%/8h= +154.5% APRpaid last 24h +0.045%

Price spread now: Variational Omni against Deribit−0.195%7-day average — · you buy dearer than you sell

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

Long on Deribit 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

Funding pays, the price is against you. Variational Omni is 0.195% cheaper against Deribit than usual: you would sell low and buy high (spread −0.195% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 11 hours of funding at the current rate (+$42 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit RUNE_USDC-PERPETUAL	0.6397	−0.1311	get 0.0164% / 1h	36m 22s	—	—	10x
Short	Variational Omni RUNE	0.6385	0.0100	get 0.0100% / 8h	2h 36m	$126K	$9K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpFee Variational OmnibpOrdersPrice spread, now −0.195%Rate

Funding earned: $296.27
Price spread: −0.195% → 0.000%: −$19.49
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $269.78
Costs to cover: 0.070%
Break-even: 0.6 days

Slippage unknown: Deribit: no order-book sample; Variational Omni: RFQ quote, 52 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 Deribit no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 52 min ago	7.08 bp	doesn't fit	66.8 bp −$668	doesn't fit	doesn't fit

Deribit: 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.

RUNE 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
Deribit RUNE_USDC-PERPETUALlong	−0.1311%	1h	0.6397	long leg	—	—	10x
Injective RUNE/USDC PERP	+0.0033%	1h	0.6155	−3.783%	$7	$24	12x	as long as short
Binance RUNEUSDT	+0.0100%	8h	0.6386	−0.175%	$4.7M	$9.7M	75x	as long as short
Bybit RUNEUSDT	+0.0100%	8h	0.6381	−0.250%	$2.7M	$1.5M	75x	as long as short
Gate RUNE_USDT	+0.0100%	8h	0.6386	−0.172%	$658K	$290K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6385	−0.188%	$2.7M	$1.4M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6384	−0.203%	$910K	$190K	50x	as long as short
Bitget RUNEUSDT	+0.0100%	8h	0.6393	−0.063%	$1.6M	$467K	50x	as long as short
BingX RUNE-USDT	+0.0100%	8h	0.6388	−0.141%	—	$59.0M	—	as long as short
Variational Omni RUNEshort	+0.0100%	8h	0.6385	−0.195%	$126K	$9K	—

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended RUNE-USD	+0.0104%	1h	0.6383	−0.218%	$4K	$170K	10x	as long as short
BloFin RUNE-USDT	+0.0125%	8h	0.6385	−0.188%	$446K	$150K	75x	as long as short
Hyperliquid RUNE	+0.0309%	1h	0.6389	−0.122%	$1.6M	$857K	5x	as long as short
Coinbase International RUNE-PERP-INTX	+0.0368%	1h	0.6386	−0.172%	$38K	$16K	25x	as long as short
dYdX RUNE-USD	+0.1627%	1h	0.6395	−0.034%	$54K	$4K	5x	as long as short
Kraken Futures PF_RUNEUSD	+0.2395%	1h	0.6414	+0.266%	$177K	$213K	20x	as long as short