Funding arb · Price arb /

RUNE

all RUNE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h —

Price spread now: Variational Omni against Deribit−0.095%7-day average — · you buy dearer than you sell

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

Long on Deribit 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 0.095% cheaper against Deribit than usual: you would sell low and buy high (spread −0.095% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit RUNE_USDC-PERPETUAL	0.6429	0	get 0.0000% / 1h	8m 14s	—	—	10x
Short	Variational Omni RUNE	0.6423	0.0100	get 0.0100% / 8h	5h 08m	$186K	$72K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now −0.095%Rate

Funding earned: $21
Price spread: −0.095% → 0.000%: −$9.55
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $4.45
Costs to cover: 0.070%
Break-even: 5.5 days

Slippage unknown: Deribit: no order-book sample; Variational Omni: RFQ quote, 39 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 Deribit no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 39 min ago	7.71 bp	doesn't fit	66.3 bp −$663	doesn't fit	doesn't fit

Deribit: 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.

RUNE on 16 exchanges

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
Deribit RUNE_USDC-PERPETUALlong	0.0000%	1h	0.6429	long leg	—	—	10x
Injective RUNE/USDC PERP	+0.0033%	1h	0.6155	−4.262%	$7	$14	12x	as long as short
BloFin RUNE-USDT	+0.0095%	8h	0.6427	−0.031%	$335K	$227K	75x	as long as short
Binance RUNEUSDT	+0.0100%	8h	0.6428	−0.021%	$5.2M	$16.7M	75x	as long as short
Bybit RUNEUSDT	+0.0100%	8h	0.6426	−0.047%	$3.0M	$3.0M	75x	as long as short
Gate RUNE_USDT	+0.0100%	8h	0.6429	0.000%	$650K	$407K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6428	−0.016%	$3.6M	$3.8M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6431	+0.031%	$1.0M	$382K	50x	as long as short
Bitget RUNEUSDT	+0.0100%	8h	0.6432	+0.047%	$1.5M	$786K	50x	as long as short
BingX RUNE-USDT	+0.0100%	8h	0.6427	−0.031%	—	$11.6M	—	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RUNEshort	+0.0100%	8h	0.6423	−0.095%	$186K	$72K	—
Extended RUNE-USD	+0.0104%	1h	0.6425	−0.066%	$23K	$225K	10x	as long as short
Kraken Futures PF_RUNEUSD	+0.0532%	1h	0.6430	+0.021%	$156K	$277K	20x	as long as short
Hyperliquid RUNE	+0.0710%	1h	0.6431	+0.028%	$2.0M	$1.1M	5x	as long as short
Coinbase International RUNE-PERP-INTX	+0.1000%	1h	0.6509	+1.244%	$37K	$28K	25x	as long as short
dYdX RUNE-USD	+0.1107%	1h	0.6418	−0.178%	$27K	$32K	5x	as long as short