Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.2200%/8h= +241.0% APRpaid last 24h +0.994%

Price spread now: Kraken Futures against Variational Omni+0.346%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 +$66 a day on $10k at the current rate, and Kraken Futures is 0.346% dearer against Variational Omni than usual: you sell high and buy low: +$35 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 NOT	0.0005078	−0.0259	get 0.0129% / 4h	1h 54m	$71K	$39K	—
Short	Kraken Futures PF_NOTUSD	0.0005095	0.1942	get 0.0243% / 1h	54m 35s	$50K	$9K	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 +0.346%Rate

Funding earned: $462.1
Price spread: +0.346% → 0.000%: $34.58
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: $486.68
Costs to cover: 0.100%
Break-even: from the start

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

Variational Omni and 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.

NOT on 15 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 NOTlong	−0.0259%	4h	0.0005078	long leg	$71K	$39K	—
KuCoin NOTUSDTM	−0.0122%	4h	0.0005054	−0.466%	$463K	$130K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.011%	$1K	$13K	5.5x	as long as short
Bybit NOTUSDT	+0.0087%	4h	0.0005060	−0.348%	$2.1M	$859K	25x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005078	−0.001%	$11K	$4K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005070	−0.151%	$370K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005066	−0.222%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005065	−0.253%	$2.1M	$3.1M	50x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005066	−0.230%	$635K	$649K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005070	−0.151%	$143K	$67K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005066	−0.230%	$1.3M	$437K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005070	−0.151%	$672K	$409K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005071	−0.131%	—	$8.9M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005065	−0.245%	$4K	$491	5x	as long as short
Kraken Futures PF_NOTUSDshort	+0.1942%	1h	0.0005095	+0.346%	$50K	$9K	10x