Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against KuCoin−0.474%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.474% cheaper against KuCoin than usual: you would sell low and buy high, −$47 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin INITUSDTM	0.08419	0.0100	pay 0.0050% / 4h	3h 47m	$327K	$37K	25x
Short	Variational Omni INIT	0.08379	0.0100	get 0.0050% / 4h	3h 47m	$27K	$10K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.474%Rate

Funding earned: $0
Price spread: −0.474% → 0.000%: −$47.37
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$59.37
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 45 min ago; 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 KuCoin live order book, 45 min ago	28.58 bp	625.4 bp −$625	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

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.

INIT 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_INITUSD	−0.0127%	1h	0.08407	−0.147%	$5K	$13K	10x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08415	−0.052%	$313K	$137K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08393	−0.314%	$28K	$7K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08421	+0.022%	$3.5M	$2.5M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08400	−0.226%	$1.4M	$1.1M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08418	−0.012%	$141K	$430K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08384	−0.416%	$82K	$15K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08413	−0.071%	$446K	$139K	20x	as long as short
KuCoin INITUSDTMlong	+0.0100%	4h	0.08419	long leg	$327K	$37K	25x
Bitget INITUSDT	+0.0100%	4h	0.08400	−0.226%	$437K	$200K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08402	−0.202%	—	$6.6M	—	as long as short
Variational Omni INITshort	+0.0100%	4h	0.08379	−0.474%	$27K	$10K	—
BloFin INIT-USDT	+0.0147%	4h	0.08401	−0.214%	$153K	$39K	25x	as long as short