Funding arb · Price arb /

SOON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0926%/8h= −101.4% APRpaid last 24h −0.954%

Price spread now: Kraken Futures against Variational Omni+0.240%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

The price spread pays, funding is against you. Kraken Futures is 0.240% dearer against Variational Omni than usual: you sell high and buy low (spread +0.240% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SOON	0.1937	0.1430	pay 0.0715% / 4h	15m 27s	$238K	$20K	—
Short	Kraken Futures PF_SOONUSD	0.1941	0.0504	get 0.0063% / 1h	15m 27s	$11K	$2K	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 +0.240%Rate

Funding earned: −$194.42
Price spread: +0.240% → 0.000%: $24.02
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: −$180.4
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 44 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, 44 min ago	10.32 bp	doesn't fit	443.8 bp −$4,438	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.

SOON on 11 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
KuCoin SOONUSDTM	+0.0100%	4h	0.1948	+0.601%	$1.8M	$3.3M	50x	as long as short
Kraken Futures PF_SOONUSDshort	+0.0504%	1h	0.1941	+0.240%	$11K	$2K	10x
OKX SOON-USDT-SWAP	+0.0731%	4h	0.1950	+0.689%	$1.9M	$486K	20x	as long as short
Extended SOON-USD	+0.0744%	1h	0.1947	+0.535%	$6K	$188K	5x	as long as short
Binance SOONUSDT	+0.0749%	4h	0.1948	+0.564%	$8.0M	$2.0M	50x	as long as short
Gate SOON_USDT	+0.0890%	4h	0.1945	+0.431%	$3.2M	$125K	50x	as long as short
Bitget SOONUSDT	+0.0990%	4h	0.1947	+0.534%	$9.1M	$271K	25x	as long as short
Aster SOONUSDT	+0.1187%	4h	0.1943	+0.327%	$189K	$3K	5x	as long as short
Variational Omni SOONlong	+0.1430%	4h	0.1937	long leg	$238K	$20K	—
BingX SOON-USDT	+0.1854%	4h	0.1944	+0.379%	—	$6.7M	—	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SOONUSDT	+0.1912%	4h	0.1938	+0.059%	$2.5M	$1.2M	25x	as long as short