Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0088%/8h= −9.7% APRpaid last 24h −0.050%

Price spread now: Variational Omni against Kraken Futures+0.269%7-day average +0.148% · 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)−0.087%−$9 on $10k

Price spread, last 3 days (all we have)−0.198%−$20 · spread now +0.269%, 7d avg +0.148%

Together, before fees−0.285%+ Points / potential airdropVariational Omni: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.121% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.269% now, against its 7-day average of +0.148%): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XMRUSD	600.39	0.0458	pay 0.0057% / 1h	52m 25s	$5.7M	$20.5M	50x
Short	Variational Omni XMR	602.00	0.0369	get 0.0369% / 8h	52m 25s	$7.0M	$2.5M	—

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 +0.269%Rate

Funding earned: −$18.55
Price spread: +0.269% → +0.148%: $12.06
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: −$16.49
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 2 min ago; Variational Omni: RFQ quote, 2 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, 2 min ago	6.33 bp	17.0 bp −$17	31.1 bp −$311	112.1 bp −$11.2K	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.79 bp	doesn't fit	35.5 bp −$355	doesn't fit	doesn't fit

XMR on 31 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
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0009%	1h	601.27	+0.147%	$45K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	601.90	+0.252%	$49.1M	$62.8M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	601.91	+0.253%	$1.1M	$665K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	601.17	+0.130%	$2K	$1.9M	20x	as long as short
Aevo XMR-PERP	+0.0168%	1h	602.31	+0.321%	$12K	—	3x	as long as short
Lighter XMR	+0.0184%	1h	601.80	+0.235%	$3.4M	$6.9M	10x	as long as short
MEXC XMR_USDT	+0.0332%	8h	602.04	+0.275%	$22.4M	$14.9M	100x	as long as short
Binance XMRUSDT	+0.0333%	8h	602.03	+0.273%	$55.1M	$163.9M	75x	as long as short
Variational Omni XMRshort	+0.0369%	8h	602.00	+0.269%	$7.0M	$2.5M	—
BingX XMR-USDT	+0.0402%	8h	601.72	+0.222%	—	$5.7M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XMRUSDT	+0.0425%	8h	601.79	+0.233%	$10.1M	$14.3M	50x	as long as short
Kraken Futures PF_XMRUSDlong	+0.0458%	1h	600.39	long leg	$5.7M	$20.5M	50x
BloFin XMR-USDT	+0.0469%	8h	602.90	+0.418%	$2.8M	$11.7M	75x	as long as short
Gate XMR_USDT	+0.0536%	8h	602.07	+0.280%	$1.7M	$4.6M	50x	as long as short
Pacifica XMR	+0.0565%	1h	601.93	+0.257%	$283K	$1.0M	10x	as long as short
KuCoin XMRUSDTM	+0.0573%	8h	601.49	+0.183%	$49.1M	$26.0M	50x	as long as short
Aster XMRUSDT	+0.0586%	8h	601.70	+0.218%	$694K	$2.4M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0615%	8h	602.14	+0.291%	$351K	$797K	10x	as long as short
SoDEX XMR-USD	+0.0616%	1h	601.69	+0.217%	$457K	$3K	5x	as long as short
Polymarket Perps XMR-USD	+0.0658%	1h	602.08	+0.282%	$23K	$1.8M	5x	as long as short
Backpack XMR_USDC_PERP	+0.0780%	1h	602.20	+0.302%	$205K	$575K	20x	as long as short
Paradex XMR-USD-PERP	+0.0868%	8h	602.17	+0.296%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0888% / S −0.2436%	1h	601.11	+0.121%	$556K	—	100x	as long as short
Orderly PERP_XMR_USDC	+0.0956%	8h	601.57	+0.197%	$44K	$729K	10x	as long as short
Nado XMR-PERP	+0.1149%	1h	602.03	+0.274%	$1.3M	$475K	10x	as long as short
Injective XMR/USDC PERP	+0.1312%	1h	596.76	−0.604%	$3K	$6K	12x	as long as short
Hyperliquid XMR	+0.1471%	1h	602.54	+0.359%	$90.7M	$69.9M	5x	as long as short
Extended XMR-USD	+0.1816%	1h	601.58	+0.199%	$3.2M	$6.9M	25x	as long as short
HTX XMR-USDT	+0.1981%	8h	601.92	+0.255%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2311%	1h	600.96	+0.096%	$2K	$47K	10x	as long as short
dYdX XMR-USD	+0.2929%	1h	600.98	+0.099%	$109K	$50K	5x	as long as short