Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,212 | +0.0412 | pay 0.0206% / 4h | 1h 13m | $441K | $68K | 20x | Long Variational Omni+15% pts | |
| SHORT | 1,209 | +0.0101 | get 0.0302% / 24h | 15h 13m | $419K | $1.5M | 4.5x | Short Kalshi |
Price gap−0.251%
Funding gap−0.0311% /8h
Both sides work against this direction now: funding costs $9 a day on $10k and the gap is 0.164% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$50−0.0311% /8h now · paid −0.495% over the last 7D
Price−$16spread −0.251% now, avg −0.087% → −0.164% if it goes back
Costs−$620.620% of $10k · taker + slippage, in and out
Result−$128−1.28%+ Points / potential airdropVariational Omni: points · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.251%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hXPD on 18 exchanges
lowest funding firstBefore you open
1 ok · 5 to watch- Watch: Thin at this size35.3 / 6.0 bpAt $10k entering Variational Omni costs 35.3 bp, fee and slippage, 5.9× Kalshi’s.
- Note: Margin at max leverage$500 + $2,181Variational Omni 20x, Kalshi 4.5x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ4h / 24hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$9.34Long Variational Omni: 6 payments, −$12.36; short Kalshi: 1 payment, +$3.02.
- Watch: Gap narrower than usual−0.251% vs −0.087%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Short leg is thinner$419K vs $441K OIKalshi sets your exit cost. Check its book before closing.
- OK: Points on a legVariational Omni pointsVolume here counts toward the points program.
- Watch: KYCVariational Omni No · Kalshi YesA US-regulated exchange: full KYC (ID, address, SSN when asked) before any trade.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0236%/8h × 21 periods−$49.54
Price spread−0.251% → −0.087% (7d avg)−$16.43
Slippage, 4 orderslive order books−$61.53
Fee Variational Omni bp × 2 orders$0.00
Fee Kalshi bp × 2 orders−$0.48
Net · 7 days · $10k−$127.98
Costs to cover0.620%Break-evennever at this rate
Slippage: Variational Omni: RFQ quote, 22 min ago; Kalshi: live order book, 1 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGVariational Omni1.9035.3 bp−$3565.9 bp−$659doesn’t fitdoesn’t fit
SELL · SHORTKalshi4.136.0 bp−$6doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-29 11:00 | gTrade (Gains Network) | Listing | XPD/USD no longer reported ($XPD) seen by our collector |
| 09-23 13:33 | Kalshi | Listing | new market KXPALLADIUMPERP ($XPD) seen by our collector |
gTrade (Gains Network)