Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0193%/8h= −21.1% APRpaid last 24h −0.010%

Price spread now: Variational Omni against Injective−3.259%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 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 against this trade now: funding costs −$6 a day on $10k at the current rate, and Variational Omni is 3.259% cheaper against Injective than usual: you would sell low and buy high (−$326 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XTZ/USDC PERP	0.3484	0.0033	pay 0.0004% / 1h	47m 21s	$62	$17K	5.5x
Short	Variational Omni XTZ	0.3370	−0.0159	pay 0.0080% / 4h	3h 47m	$102K	$297K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Injective. 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 InjectivebpFee Variational OmnibpOrdersPrice spread, now −3.259%Rate

Funding earned: −$40.44
Price spread: −3.259% → 0.000%: −$325.94
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$366.39
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 52 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 Injective no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 52 min ago	5.96 bp	doesn't fit	47.7 bp −$477	doesn't fit	doesn't fit

Injective: 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.

XTZ 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
Bybit XTZUSDT	−0.0192%	4h	0.3380	−2.985%	$2.7M	$2.6M	75x	as long as short
Variational Omni XTZshort	−0.0159%	4h	0.3370	−3.259%	$102K	$297K	—
Bitget XTZUSDT	−0.0158%	4h	0.3381	−2.956%	$916K	$890K	75x	as long as short
Kraken Futures PF_XTZUSD	−0.0100%	1h	0.3386	−2.819%	$279K	$280K	50x	as long as short
Injective XTZ/USDC PERPlong	+0.0033%	1h	0.3484	long leg	$62	$17K	5.5x
Binance XTZUSDT	+0.0100%	4h	0.3381	−2.956%	$4.7M	$9.5M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3380	−2.985%	$1.2M	$1.3M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3380	−2.985%	$620K	$155K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3381	−2.956%	$2.2M	$737K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3381	−2.956%	$625K	$203K	30x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XTZ-USDT	+0.0100%	4h	0.3381	−2.956%	—	$1.1M	—	as long as short
BloFin XTZ-USDT	+0.0116%	4h	0.3376	−3.100%	$279K	$94K	75x	as long as short