Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.020%

Price spread now: Injective against Variational Omni+1.111%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Injective

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. Injective is 1.111% dearer against Variational Omni than usual: you sell high and buy low (spread +1.111% now, against zero (this spread has no 7-day history yet)): +$111 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 56 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XTZ	0.3446	0.0100	pay 0.0050% / 4h	1h 55m	$123K	$296K	—
Short	Injective XTZ/USDC PERP	0.3484	0.0033	get 0.0004% / 1h	55m 20s	$62	$17K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now +1.111%Rate

Funding earned: −$14
Price spread: +1.111% → 0.000%: $111.13
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $97.11
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 29 min ago; Injective: 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 Variational Omni RFQ quote, 29 min ago	7.24 bp	doesn't fit	126.1 bp −$1,261	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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.

XTZ on 12 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
Kraken Futures PF_XTZUSD	−0.0588%	1h	0.3449	+0.098%	$280K	$217K	50x	as long as short
Injective XTZ/USDC PERPshort	+0.0033%	1h	0.3484	+1.111%	$62	$17K	5.5x
BingX XTZ-USDT	+0.0036%	4h	0.3449	+0.096%	—	$1.1M	—	as long as short
BloFin XTZ-USDT	+0.0096%	4h	0.3443	−0.079%	$284K	$88K	75x	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3444	−0.048%	$4.8M	$10.1M	75x	as long as short
Bybit XTZUSDT	+0.0100%	4h	0.3445	−0.021%	$2.9M	$3.3M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3444	−0.050%	$1.2M	$1.4M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3443	−0.079%	$641K	$211K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3446	+0.008%	$2.2M	$604K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3444	−0.050%	$680K	$317K	30x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XTZUSDT	+0.0100%	4h	0.3444	−0.050%	$950K	$1.2M	75x	as long as short
Variational Omni XTZlong	+0.0100%	4h	0.3446	long leg	$123K	$296K	—