Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h −0.029%

Price spread now: Kraken Futures against Variational Omni+0.559%7-day average −0.004% · you sell dearer than you buy

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.260%+$26 on $10k

Price spread, last 3 days (all we have)−0.340%−$34 · spread now +0.559%, 7d avg −0.004%

Together, before fees−0.080%+ Points / potential airdropVariational Omni: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.563% dearer against Variational Omni than usual: you sell high and buy low (spread +0.559% now, against its 7-day average of −0.004%): +$56 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 6.8 days. Mind the row above: over the last 3 days funding on this pair paid +0.260%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XTZ	0.3386	0.0100	pay 0.0050% / 4h	3h 14m	$121K	$296K	—
Short	Kraken Futures PF_XTZUSD	0.3405	−0.0176	pay 0.0022% / 1h	14m 39s	$272K	$244K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.559%Rate

Funding earned: −$57.89
Price spread: +0.559% → −0.004%: $56.3
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$11.59
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 59 min ago; Kraken Futures: live order book, 58 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 Variational Omni RFQ quote, 59 min ago	7.33 bp	doesn't fit	48.4 bp −$484	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 58 min ago	7.32 bp	27.3 bp −$27	67.9 bp −$679	doesn't fit	doesn't fit

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_XTZUSDshort	−0.0176%	1h	0.3405	+0.559%	$272K	$244K	50x
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+2.880%	$62	$17K	5.5x	as long as short
BloFin XTZ-USDT	+0.0069%	4h	0.3393	+0.193%	$280K	$97K	75x	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3397	+0.315%	$4.8M	$10.5M	75x	as long as short
Bybit XTZUSDT	+0.0100%	4h	0.3400	+0.399%	$2.7M	$3.4M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3398	+0.340%	$1.2M	$1.5M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3400	+0.399%	$629K	$201K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3399	+0.370%	$2.0M	$648K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3400	+0.399%	$644K	$243K	30x	as long as short
Bitget XTZUSDT	+0.0100%	4h	0.3397	+0.311%	$926K	$1.1M	75x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XTZ-USDT	+0.0100%	4h	0.3401	+0.429%	—	$1.1M	—	as long as short
Variational Omni XTZlong	+0.0100%	4h	0.3386	long leg	$121K	$296K	—