Funding arb · Price arb /

KSM

all KSM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0138%/8h= +15.1% APRpaid last 24h +0.365%

Price spread now: Kraken Futures against Variational Omni+0.277%7-day average — · you sell dearer than you buy

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)—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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.277% dearer against Variational Omni than usual: you sell high and buy low: +$28 more if the spread 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	Variational Omni KSM	4.6051	−0.0567	get 0.0567% / 8h	1h 45m	$453K	$40K	—
Short	Kraken Futures PF_KSMUSD	4.6179	−0.0429	pay 0.0054% / 1h	45m 43s	$37K	$5K	20x

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

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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.277%Rate

Funding earned: $29
Price spread: +0.277% → 0.000%: $27.73
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: $46.73
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 38 min ago; Kraken Futures: 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 Variational Omni RFQ quote, 38 min ago	7.04 bp	doesn't fit	160.0 bp −$1,600	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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.

KSM 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
Variational Omni KSMlong	−0.0567%	8h	4.6051	long leg	$453K	$40K	—
Kraken Futures PF_KSMUSDshort	−0.0429%	1h	4.6179	+0.277%	$37K	$5K	20x
OKX KSM-USDT-SWAP	−0.0152%	4h	4.6090	+0.085%	$757K	$652K	20x	as long as short
BloFin KSM-USDT	+0.0085%	8h	4.6120	+0.150%	$114K	$19K	50x	as long as short
Binance KSMUSDT	+0.0100%	8h	4.6177	+0.273%	$2.0M	$2.9M	50x	as long as short
Bybit KSMUSDT	+0.0100%	8h	4.6100	+0.106%	$2.2M	$722K	50x	as long as short
Gate KSM_USDT	+0.0100%	8h	4.6170	+0.258%	$89K	$41K	33x	as long as short
MEXC KSM_USDT	+0.0100%	8h	4.6120	+0.150%	$720K	$249K	20x	as long as short
KuCoin KSMUSDTM	+0.0100%	8h	4.6150	+0.215%	$514K	$53K	30x	as long as short
Bitget KSMUSDT	+0.0100%	8h	4.6140	+0.193%	$493K	$238K	50x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX KSM-USDT	+0.0100%	8h	4.6090	+0.085%	—	$2.4M	—	as long as short
Extended KSM-USD	+0.0104%	1h	4.6095	+0.096%	$77K	$260K	5x	as long as short