Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0057%/8h= +6.2% APRpaid last 24h +0.030%

Price spread now: Variational Omni against Kraken Futures−0.193%7-day average −0.082% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.041%+$4 on $10k

Price spread, last 4 days (all we have)+0.243%+$24 · spread now −0.193%, 7d avg −0.082%

Together, before fees+0.284%+ Points / potential airdropVariational Omni: Active · farm board+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.110% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.193% now, against its 7-day average of −0.082%). If the spread goes back, that is −$11 on $10k: about 6.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_FILUSD	0.9971	0.0043	pay 0.0005% / 1h	39m 38s	$1.4M	$2.3M	50x
Short	Variational Omni FIL	0.9952	0.0100	get 0.0100% / 8h	4h 39m	$448K	$265K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.193%Rate

Funding earned: $11.87
Price spread: −0.193% → −0.082%: −$11.03
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.16
Costs to cover: 0.100%
Break-even: 12.4 days

Slippage unknown: Kraken Futures: live order book, 4 min ago; Variational Omni: RFQ quote, 19 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 Kraken Futures live order book, 4 min ago	4.52 bp	18.5 bp −$18	30.3 bp −$303	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 19 min ago	3.24 bp	doesn't fit	35.3 bp −$353	doesn't fit	doesn't fit

FIL on 29 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
Deribit FIL_USDC-PERPETUAL	−0.0451%	1h	0.9972	+0.011%	$172K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0208%	1h	0.9960	−0.109%	$376K	$2.1M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0066%	8h	0.9947	−0.239%	$18.5M	$103.8M	50x	as long as short
KuCoin FILUSDTM	−0.0020%	8h	0.9962	−0.089%	$7.4M	$7.4M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9973	+0.021%	$26K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9956	−0.153%	$58K	$2K	10x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−1.162%	$2K	$240K	12x	as long as short
Kraken Futures PF_FILUSDlong	+0.0043%	1h	0.9971	long leg	$1.4M	$2.3M	50x
Extended FIL-USD	+0.0080%	1h	0.9946	−0.244%	$708K	$3.3M	10x	as long as short
Binance FILUSDT	+0.0082%	8h	0.9947	−0.237%	$57.2M	$182.6M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC FIL_USDC	+0.0085%	8h	0.9953	−0.179%	$241K	$103K	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9955	−0.163%	$155K	$360K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9959	−0.118%	$8.5M	$9.4M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9960	−0.107%	$510K	$599K	20x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9948	−0.229%	$15.7M	$20.0M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9947	−0.239%	$8.4M	$16.6M	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9951	−0.199%	$11.2M	$20.4M	75x	as long as short
BingX FIL-USDT	+0.0100%	8h	0.9948	−0.229%	—	$11.8M	—	as long as short
Variational Omni FILshort	+0.0100%	8h	0.9952	−0.193%	$448K	$265K	—
edgeX FILUSDC	+0.0100%	4h	0.9952	−0.186%	$45K	$294K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9957	−0.138%	$289K	$946K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9960	−0.109%	$30K	$180K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9980	+0.092%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9970	−0.009%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9964	−0.069%	$482	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9978	+0.072%	$623K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9960	−0.109%	$1.1M	$2.5M	50x	as long as short
BloFin FIL-USDT	+0.0201%	8h	0.9961	−0.099%	$2.7M	$646K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0573% / S −0.0237%	1h	0.9971	+0.004%	$266K	—	100x	as long as short