Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.4596%/8h= −503.3% APRpaid last 24h +1.388%

Price spread now: Kraken Futures against Variational Omni−0.169%7-day average +0.284% · you buy dearer than you sell

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)+2.231%+$223 on $10k

Price spread, last 3 days (all we have)+0.486%+$49 · spread now −0.169%, 7d avg +0.284%

Together, before fees+2.717%+ Points / potential airdropVariational Omni: Active · farm board+$272 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$138 a day on $10k at the current rate, and Kraken Futures is 0.453% cheaper against Variational Omni than usual: you would sell low and buy high (−$45 if the spread goes back to its 7-day average of +0.284%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +2.231%, 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 ATH	0.005606	−0.0015	get 0.0008% / 4h	1h 59m	$189K	$93K	—
Short	Kraken Futures PF_ATHUSD	0.005596	−0.4611	pay 0.0576% / 1h	59m 18s	$20K	$107K	10x

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

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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 Kraken FuturesbpOrdersPrice spread, now −0.169%Rate

Funding earned: −$965.22
Price spread: −0.169% → +0.284%: −$45.31
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: −$1,020.53
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 25 min ago; Kraken Futures: live order book, 23 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, 25 min ago	6.23 bp	doesn't fit	162.9 bp −$1,629	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 23 min ago	20.48 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

ATH on 13 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_ATHUSDshort	−0.4611%	1h	0.005596	−0.169%	$20K	$107K	10x
Variational Omni ATHlong	−0.0015%	4h	0.005606	long leg	$189K	$93K	—
dYdX ATH-USD	−0.0011%	1h	0.005620	+0.254%	$11K	$16	5x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005617	+0.195%	$6K	$35K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005614	+0.147%	$3.4M	$3.9M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005603	−0.049%	$4.5M	$2.3M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005602	−0.067%	$717K	$1.3M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005606	+0.004%	$802K	$512K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005614	+0.147%	$8.9M	$643K	50x	as long as short
KuCoin ATHUSDTM	+0.0100%	4h	0.005604	−0.031%	$562K	$84K	30x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ATHUSDT	+0.0100%	4h	0.005609	+0.058%	$1.6M	$803K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005610	+0.076%	—	$22.0M	—	as long as short
BloFin ATH-USDT	+0.0152%	4h	0.005609	+0.058%	$174K	$62K	75x	as long as short