Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1665%/8h= +182.3% APRpaid last 24h +0.277%

Price spread now: Variational Omni against Kraken Futures−0.070%7-day average — · 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)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.070% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.070% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 3 hours of funding at the current rate (+$50 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_GMTUSD	0.008338	−0.1565	get 0.0196% / 1h	18m 50s	$45K	$11K	20x
Short	Variational Omni GMT	0.008332	0.0100	get 0.0100% / 8h	18m 50s	$3K	$5K	—

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

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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.070%Rate

Funding earned: $349.62
Price spread: −0.070% → 0.000%: −$6.99
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: $332.63
Costs to cover: 0.100%
Break-even: 0.3 days

Slippage unknown: Kraken Futures: no order-book sample; Variational Omni: no order-book sample. 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 no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

Kraken Futures and Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

GMT 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_GMTUSDlong	−0.1565%	1h	0.008338	long leg	$45K	$11K	20x
Hyperliquid GMT	+0.0100%	1h	0.008345	+0.087%	$123K	$123K	3x	as long as short
Aster GMTUSDT	+0.0100%	4h	0.008341	+0.039%	$8K	$14K	10x	as long as short
Binance GMTUSDT	+0.0100%	4h	0.008342	+0.052%	$2.7M	$3.0M	50x	as long as short
Bybit GMTUSDT	+0.0100%	8h	0.008338	+0.004%	$1.1M	$1.1M	50x	as long as short
OKX GMT-USDT-SWAP	+0.0100%	4h	0.008337	−0.008%	$349K	$560K	20x	as long as short
Gate GMT_USDT	+0.0100%	8h	0.008340	+0.028%	$145K	$105K	50x	as long as short
MEXC GMT_USDT	+0.0100%	4h	0.008339	+0.016%	$420K	$185K	20x	as long as short
KuCoin GMTUSDTM	+0.0100%	4h	0.008330	−0.092%	$249K	$99K	50x	as long as short
Bitget GMTUSDT	+0.0100%	4h	0.008341	+0.040%	$672K	$398K	50x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni GMTshort	+0.0100%	8h	0.008332	−0.070%	$3K	$5K	—
BingX GMT-USDT	+0.0200%	4h	0.008338	+0.004%	—	$1.2M	—	as long as short