Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0190%/8h= −20.8% APRpaid last 24h +0.006%

Price spread now: Variational Omni against Kraken Futures−0.018%7-day average −0.075% · you buy dearer than you sell

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)+0.038%+$4 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now −0.018%, 7d avg −0.075%

Together, before fees−0.052%+ Points / potential airdropVariational Omni: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.057% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.018% now, against its 7-day average of −0.075%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 24 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.038% in total (about 3.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_FILUSD	0.9800	0.0290	pay 0.0036% / 1h	49m 17s	$1.3M	$2.1M	50x
Short	Variational Omni FIL	0.9798	0.0100	get 0.0100% / 8h	5h 49m	$442K	$268K	—

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 −0.018%Rate

Funding earned: −$39.83
Price spread: −0.018% → −0.075%: $5.74
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: −$44.09
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 2 min ago; Variational Omni: RFQ quote, 62 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	3.57 bp	14.9 bp −$15	29.2 bp −$292	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 62 min ago	4.09 bp	doesn't fit	44.0 bp −$440	doesn't fit	doesn't fit

FIL on 29 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
Coinbase International FIL-PERP-INTX	−0.0200%	1h	0.9798	−0.018%	$350K	$2.1M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9822	+0.223%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9794	−0.057%	$57K	$923	10x	as long as short
Deribit FIL_USDC-PERPETUAL	0.0000%	1h	0.9799	−0.008%	$168K	$7K	25x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	+0.564%	$2K	$240K	12x	as long as short
Bybit FILUSDT	+0.0079%	8h	0.9793	−0.069%	$15.2M	$18.1M	25x	as long as short
Lighter FIL	+0.0096%	1h	0.9792	−0.076%	$143K	$249K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9795	−0.045%	$7.8M	$3.2M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9800	+0.002%	$499K	$300K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	0.9797	−0.026%	$56.7M	$157.1M	75x	as long as short

Show all 29 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX FIL-USDT-SWAP	+0.0100%	8h	0.9794	−0.059%	$17.1M	$92.6M	50x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9794	−0.059%	$8.1M	$14.2M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9791	−0.089%	$225K	$90K	50x	as long as short
KuCoin FILUSDTM	+0.0100%	8h	0.9793	−0.069%	$7.1M	$7.5M	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9793	−0.069%	$11.3M	$17.4M	75x	as long as short
BingX FIL-USDC	+0.0100%	8h	0.9790	−0.100%	—	$6.5M	—	as long as short
Variational Omni FILshort	+0.0100%	8h	0.9798	−0.018%	$442K	$268K	—
edgeX FILUSDC	+0.0100%	4h	0.9800	+0.007%	$44K	$296K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9820	+0.209%	$292K	$1.8M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9810	+0.105%	$23K	$180K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9803	+0.037%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9790	−0.100%	$3K	$994K	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9795	−0.049%	$472	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9806	+0.064%	$623K	$4.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9790	−0.100%	$1.3M	$2.4M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9792	−0.082%	$690K	$4.2M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9792	−0.079%	$2.7M	$610K	75x	as long as short
Kraken Futures PF_FILUSDlong	+0.0290%	1h	0.9800	long leg	$1.3M	$2.1M	50x
GMX FIL/USD [WBTC.b-USDC]	L +0.0594% / S −0.0280%	1h	0.9803	+0.031%	$262K	—	100x	as long as short