Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: KuCoin against Variational Omni+0.028%7-day average +0.103% · you sell dearer than you buy

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

Long on Variational Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.180%+$18 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.028%, 7d avg +0.103%

Together, before fees+0.103%+ Points / potential airdropVariational Omni: Active · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.074% cheaper against Variational Omni than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AR	4.2738	0.0100	pay 0.0100% / 8h	7h 27m	$245K	$510K	—
Short	KuCoin ARUSDTM	4.2750	0.0100	get 0.0100% / 8h	7h 27m	$1.1M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → +0.103%: −$7.43
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$19.43
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 6 min ago; KuCoin: live order book, 7 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, 6 min ago	6.21 bp	doesn't fit	137.9 bp −$1,379	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	5.83 bp	99.8 bp −$100	482.0 bp −$4,820	doesn't fit	doesn't fit

AR on 17 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_ARUSD	−0.1011%	1h	4.2709	−0.067%	$53K	$134K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.2746	+0.018%	$549K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+3.515%	$2K	$5K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.2825	+0.204%	$3.8M	$4.4M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2793	+0.130%	$32K	$255K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2775	+0.086%	$8.5M	$43.6M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.2799	+0.143%	$4.5M	$8.2M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.2760	+0.052%	$2.2M	$14.0M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.2730	−0.019%	$2.0M	$3.1M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.2820	+0.192%	$6.1M	$3.7M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTMshort	+0.0100%	8h	4.2750	+0.028%	$1.1M	$1.1M	50x
Bitget ARUSDT	+0.0100%	8h	4.2750	+0.028%	$3.7M	$4.8M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.2780	+0.098%	—	$2.7M	—	as long as short
Variational Omni ARlong	+0.0100%	8h	4.2738	long leg	$245K	$510K	—
ApeX Omni ARUSDT	+0.0100%	1h	4.2730	−0.019%	$20K	$707K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.2788	+0.118%	$36K	$240K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.2760	+0.052%	$414K	$437K	20x	as long as short