Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h −0.018%

Price spread now: Variational Omni against Kraken Futures+0.123%7-day average −0.067% · you sell dearer than you buy

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.675%−$68 · spread now +0.123%, 7d avg −0.067%

Together, before fees−0.695%+ Points / potential airdropVariational Omni: Active · farm board−$69 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.190% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.123% now, against its 7-day average of −0.067%): +$19 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 30 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ARBUSD	0.2170	−0.0075	get 0.0009% / 1h	27m 01s	$1.0M	$4.4M	50x
Short	Variational Omni ARB	0.2173	−0.0096	pay 0.0096% / 8h	2h 27m	$1.8M	$3.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now +0.123%Rate

Funding earned: −$4.41
Price spread: +0.123% → −0.067%: $19.02
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $4.6
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 2 min ago; Variational Omni: RFQ quote, 2 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 Kraken Futures live order book, 2 min ago	13.58 bp	21.7 bp −$22	27.5 bp −$275	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	6.90 bp	doesn't fit	25.3 bp −$253	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1581%	1h	0.2162	−0.361%	$39K	$372K	12x	as long as short
01 Exchange ARBUSD	−0.0176%	1h	0.2174	+0.182%	$7K	$236	10x	as long as short
Polymarket Perps ARB-USD	−0.0116%	1h	0.2173	+0.150%	$77K	$2.1M	10x	as long as short
Variational Omni ARBshort	−0.0096%	8h	0.2173	+0.123%	$1.8M	$3.0M	—
Bybit ARBUSDT	−0.0075%	8h	0.2170	+0.030%	$54.3M	$124.2M	50x	as long as short
Kraken Futures PF_ARBUSDlong	−0.0075%	1h	0.2170	long leg	$1.0M	$4.4M	50x
MEXC ARB_USDT	−0.0071%	8h	0.2169	−0.034%	$41.3M	$61.3M	200x	as long as short
OKX ARB-USDT-SWAP	−0.0069%	8h	0.2172	+0.086%	$21.5M	$142.2M	50x	as long as short
Orderly PERP_ARB_USDC	−0.0052%	8h	0.2170	+0.007%	$12K	$409K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2173	+0.156%	$64K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2169	−0.020%	$23K	$33K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0009%	1h	0.2171	+0.058%	$43K	—	150x	as long as short
Bitget ARBUSDT	+0.0052%	8h	0.2168	−0.085%	$20.7M	$34.3M	50x	as long as short
Gate ARB_USDT	+0.0067%	8h	0.2170	+0.007%	$5.4M	$18.2M	60x	as long as short
Extended ARB-USD	+0.0080%	1h	0.2168	−0.098%	$347K	$2.8M	25x	as long as short
Binance ARBUSDT	+0.0081%	8h	0.2171	+0.035%	$62.0M	$300.4M	75x	as long as short
BingX ARB-USDT	+0.0081%	8h	0.2170	+0.003%	—	$53.8M	—	as long as short
RISEx ARB/USDC	+0.0086%	1h	0.2174	+0.204%	$440K	$2.6M	10x	as long as short
Lighter ARB	+0.0096%	1h	0.2169	−0.043%	$1.2M	$5.5M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2171	+0.058%	$36.4M	$48.8M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2171	+0.038%	$625K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2174	+0.198%	$42K	$160K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2170	+0.021%	$19.4M	$14.4M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2175	+0.246%	$38K	$461K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2177	+0.330%	$463K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2177	+0.330%	$117K	$282K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2175	+0.238%	$2K	$1.1M	30x	as long as short
SoDEX ARB-USD	+0.0100%	1h	0.2169	−0.030%	$9K	$2.2M	5x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2170	+0.026%	$289K	$890K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2171	+0.053%	$4.8M	$12.7M	50x	as long as short
Aevo ARB-PERP	+0.0104%	1h	0.2170	+0.030%	$138K	$7K	3x	as long as short
BloFin ARB-USDT	+0.0201%	8h	0.2169	−0.030%	$3.0M	$2.3M	75x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0277% / S −0.0159%	1h	0.2171	+0.049%	$822K	—	150x	as long as short
Coinbase International ARB-PERP-INTX	+0.0288%	1h	0.2170	+0.007%	$503K	$1.6M	50x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2171	+0.048%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0670%	1h	0.2173	+0.132%	$974K	$2.8M	20x	as long as short