Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0246%/8h= −27.0% APRpaid last 24h −0.039%

Price spread now: Variational Omni against Kraken Futures−0.704%7-day average −0.098% · 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 4 days (all we have)−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.471%+$47 · spread now −0.704%, 7d avg −0.098%

Together, before fees+0.379%+ Points / potential airdropVariational Omni: Active · farm board+$38 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.606% cheaper against Kraken Futures than usual: you would sell low and buy high (−$61 if the spread goes back to its 7-day average of −0.098%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WIFUSD	0.2465	0.0346	pay 0.0043% / 1h	58m 18s	$637K	$2.6M	50x
Short	Variational Omni WIF	0.2448	0.0100	get 0.0050% / 4h	1h 58m	$73K	$192K	—

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 −0.704%Rate

Funding earned: −$51.7
Price spread: −0.704% → −0.098%: −$60.58
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: −$122.28
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 5 min ago; Variational Omni: RFQ quote, 36 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, 5 min ago	12.26 bp	24.5 bp −$24	65.3 bp −$653	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 36 min ago	8.39 bp	doesn't fit	25.2 bp −$252	doesn't fit	doesn't fit

WIF on 32 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
Injective WIF/USDC PERP	−0.0467%	1h	0.2401	−2.612%	$10K	$10K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2456	−0.381%	$976K	$927K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2469	+0.126%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2463	−0.088%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0072% / S +0.0252%	1h	0.2464	−0.070%	$21K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2470	+0.179%	$143K	$678K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2468	+0.106%	$53K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2469	+0.126%	$8.6M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2466	+0.011%	$28K	$349K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2469	+0.129%	$78K	$69K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2465	−0.028%	$18.6M	$141.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2464	−0.057%	$16.6M	$46.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2465	−0.016%	$5.5M	$41.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2467	+0.065%	$1.1M	$9.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2466	+0.024%	$22.6M	$12.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2467	+0.065%	$4.2M	$16.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2465	−0.016%	$7.5M	$15.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2463	−0.097%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2459	−0.243%	$73K	$296K	10x	as long as short
Variational Omni WIFshort	+0.0100%	4h	0.2448	−0.704%	$73K	$192K	—
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2449	−0.663%	$271K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2449	−0.665%	$45K	$630K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2467	+0.065%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2460	−0.219%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2464	−0.057%	$567	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2462	−0.138%	$150K	$881K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2463	−0.086%	$11K	$165K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2466	+0.024%	$82K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0156%	1h	0.2465	−0.016%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSDlong	+0.0346%	1h	0.2465	long leg	$637K	$2.6M	50x
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2467	+0.065%	$360K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2465	−0.013%	$0	—	15x	as long as short