Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.2173%/8h= +237.9% APRpaid last 24h −0.021%

Price spread now: Kraken Futures against Variational Omni+0.031%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 +$65 a day on $10k at the current rate, and Kraken Futures is 0.031% dearer against Variational Omni than usual: you sell high and buy low: +$3 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 MEW	0.0004666	0.0100	pay 0.0050% / 4h	40m 17s	$82K	$32K	—
Short	Kraken Futures PF_MEWUSD	0.0004668	0.2273	get 0.0284% / 1h	40m 17s	$92K	$129K	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

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 +0.031%Rate

Funding earned: $456.33
Price spread: +0.031% → 0.000%: $3.12
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: $449.45
Costs to cover: 0.100%
Break-even: 0.1 days

Slippage unknown: Variational Omni: no order-book sample; Kraken Futures: live order book, 37 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 no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 37 min ago	27.84 bp	58.3 bp −$58	doesn't fit	doesn't fit	doesn't fit

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.

MEW 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
GMX MEW/USD [WBTC.b-USDC]	L 0.0000% / S 0.0000%	1h	0.0004660	−0.138%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−9.588%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004666	−0.007%	$1.1M	$2.7M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004663	−0.073%	$1.5M	$1.0M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004663	−0.073%	$525K	$670K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004662	−0.095%	$124K	$77K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004666	−0.009%	$386K	$171K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004669	+0.055%	$349K	$112K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004666	−0.009%	$484K	$354K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004665	−0.030%	—	$24.2M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEWlong	+0.0100%	4h	0.0004666	long leg	$82K	$32K	—
Kraken Futures PF_MEWUSDshort	+0.2273%	1h	0.0004668	+0.031%	$92K	$129K	10x