Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0196%/8h= −21.4% APRpaid last 24h −0.040%

Price spread now: Kraken Futures against Variational Omni+0.182%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 0.182% dearer against Variational Omni than usual: you sell high and buy low (spread +0.182% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ALGO	0.1117	−0.0092	get 0.0092% / 8h	1h 48m	$65K	$10K	—
Short	Kraken Futures PF_ALGOUSD	0.1119	−0.0288	pay 0.0036% / 1h	48m 47s	$840K	$1.1M	50x

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 +0.182%Rate

Funding earned: −$41.1
Price spread: +0.182% → 0.000%: $18.19
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: −$32.9
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Kraken Futures: live order book, 5 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, 5 min ago	11.63 bp	25.7 bp −$26	63.5 bp −$635	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.

ALGO on 22 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
Deribit ALGO_USDC-PERPETUAL	−0.0465%	1h	0.1118	+0.129%	$101K	$50K	25x	as long as short
Injective ALGO/USDC PERP	−0.0295%	1h	0.1117	+0.031%	$832	$202K	12x	as long as short
Kraken Futures PF_ALGOUSDshort	−0.0288%	1h	0.1119	+0.182%	$840K	$1.1M	50x
Bybit ALGOUSDT	−0.0118%	8h	0.1117	+0.058%	$11.3M	$12.2M	75x	as long as short
Variational Omni ALGOlong	−0.0092%	8h	0.1117	long leg	$65K	$10K	—
Coinbase International ALGO-PERP-INTX	−0.0056%	1h	0.1118	+0.138%	$62K	$331K	50x	as long as short
gTrade (Gains Network) ALGO/USD	L +0.0001% / S +0.0003%	1h	0.1119	+0.197%	$6K	—	150x	as long as short
Hyperliquid ALGO	+0.0100%	1h	0.1119	+0.246%	$3.7M	$1.9M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1118	+0.117%	$44K	$31K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	0.1118	+0.129%	$9.9M	$34.7M	75x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1118	+0.094%	$3.0M	$7.7M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	0.1118	+0.094%	$879K	$843K	50x	as long as short
MEXC ALGO_USDT	+0.0100%	8h	0.1118	+0.129%	$23.0M	$2.8M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1118	+0.147%	$3.6M	$1.5M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1119	+0.210%	$5.6M	$3.5M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	0.1118	+0.085%	—	$3.3M	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	0.1118	+0.076%	$66K	$109K	75x	as long as short
Phemex ALGOUSDT	+0.0100%	8h	0.1120	+0.300%	$3.8M	$1.8M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	0.1118	+0.087%	$7K	$210K	10x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	0.1118	+0.156%	$489K	$793K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0237% / S −0.0158%	1h	0.1119	+0.172%	$5K	—	100x	as long as short
dYdX ALGO-USD	+0.1479%	1h	0.1118	+0.160%	$160K	$5K	5x	as long as short