Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h +0.060%

Price spread now: Variational Omni against Kraken Futures−0.110%7-day average −0.089% · you buy dearer than you sell

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)−0.052%−$5 on $10k

Price spread, last 4 days (all we have)−0.450%−$45 · spread now −0.110%, 7d avg −0.089%

Together, before fees−0.502%+ Points / potential airdropVariational Omni: Active · farm board−$50 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.021% cheaper against Kraken Futures than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TIAUSD	0.4409	0.0075	pay 0.0009% / 1h	37m 33s	$360K	$206K	50x
Short	Variational Omni TIA	0.4404	0.0067	get 0.0033% / 4h	1h 37m	$103K	$84K	—

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

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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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.110%Rate

Funding earned: −$1.72
Price spread: −0.110% → −0.089%: −$2.1
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: −$13.82
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 25 min ago; Variational Omni: RFQ quote, 37 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, 25 min ago	15.88 bp	21.6 bp −$22	62.2 bp −$622	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 37 min ago	4.55 bp	doesn't fit	25.0 bp −$250	doesn't fit	doesn't fit

TIA on 27 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
Bybit TIAUSDT	−0.0029%	4h	0.4416	+0.170%	$9.5M	$13.3M	50x	as long as short
ApeX Omni TIAUSDT	−0.0019%	1h	0.4407	−0.034%	$50K	$231K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4408	−0.011%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4409	+0.009%	$1K	—	150x	as long as short
KuCoin TIAUSDTM	+0.0008%	4h	0.4407	−0.034%	$4.2M	$9.0M	50x	as long as short
OKX TIA-USDT-SWAP	+0.0043%	4h	0.4417	+0.193%	$2.8M	$6.1M	50x	as long as short
Variational Omni TIAshort	+0.0067%	4h	0.4404	−0.110%	$103K	$84K	—
Kraken Futures PF_TIAUSDlong	+0.0075%	1h	0.4409	long leg	$360K	$206K	50x
Lighter TIA	+0.0096%	1h	0.4415	+0.152%	$156K	$414K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4424	+0.358%	$4.7M	$1.6M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4407	−0.028%	$32K	$246K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4418	+0.206%	$14.5M	$42.6M	75x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4411	+0.057%	$993K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4409	+0.011%	$12.3M	$6.5M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4415	+0.147%	$4.5M	$3.4M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4409	+0.011%	—	$99.0M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4406	−0.059%	$102K	$155K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0100%	4h	0.4405	−0.079%	$5K	$317K	10x	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4417	+0.193%	$59K	$74K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4410	+0.024%	$56K	$213K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4407	−0.034%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0180%	1h	0.4416	+0.166%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0198%	1h	0.4410	+0.034%	$52K	$199	10x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4407	−0.034%	$1.4M	$707K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0376%	1h	0.4430	+0.488%	$52K	$76K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0494% / S −0.1196%	1h	0.4408	−0.019%	$40K	—	100x	as long as short
Injective TIA/USDC PERP	+0.0496%	1h	0.4428	+0.442%	$26K	$10K	12x	as long as short