Funding arb · Price arb /

GALA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0241%/8h= +26.4% APRpaid last 24h −0.140%

Price spread now: Variational Omni against Kraken Futures−0.419%7-day average — · 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)—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

Funding pays, the price is against you. Variational Omni is 0.419% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.419% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$42 on $10k: about 5.8 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_GALAUSD	0.002070	−0.0141	get 0.0018% / 1h	45m 04s	$662K	$227K	25x
Short	Variational Omni GALA	0.002062	0.0100	get 0.0100% / 8h	1h 45m	$25K	$15K	—

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

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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 −0.419%Rate

Funding earned: $50.59
Price spread: −0.419% → 0.000%: −$41.85
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: −$1.26
Costs to cover: 0.100%
Break-even: 7.2 days

Slippage unknown: Kraken Futures: live order book, 63 min ago; Variational Omni: 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 Kraken Futures live order book, 63 min ago	9.64 bp	35.8 bp −$36	113.5 bp −$1,135	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

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.

GALA on 15 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
Kraken Futures PF_GALAUSDlong	−0.0141%	1h	0.002070	long leg	$662K	$227K	25x
Injective GALA/USDC PERP	+0.0033%	1h	0.002110	+1.917%	$2K	$7K	5.5x	as long as short
Hyperliquid GALA	+0.0100%	1h	0.002068	−0.111%	$302K	$157K	3x	as long as short
Aster GALAUSDT	+0.0100%	8h	0.002068	−0.124%	$17K	$8K	5x	as long as short
Binance GALAUSDT	+0.0100%	8h	0.002069	−0.081%	$5.4M	$17.3M	75x	as long as short
Bybit GALAUSDT	+0.0100%	8h	0.002066	−0.208%	$6.0M	$6.1M	75x	as long as short
OKX GALA-USDT-SWAP	+0.0100%	8h	0.002065	−0.256%	$2.2M	$4.1M	50x	as long as short
Gate GALA_USDT	+0.0100%	8h	0.002069	−0.063%	$1.8M	$1.5M	75x	as long as short
MEXC GALA_USDT	+0.0100%	8h	0.002067	−0.160%	$5.5M	$3.3M	125x	as long as short
KuCoin GALAUSDTM	+0.0100%	8h	0.002067	−0.160%	$1.7M	$4.8M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget GALAUSDT	+0.0100%	8h	0.002069	−0.063%	$2.1M	$1.3M	75x	as long as short
BingX GALA-USDT	+0.0100%	8h	0.002064	−0.304%	—	$11.6M	—	as long as short
Variational Omni GALAshort	+0.0100%	8h	0.002062	−0.419%	$25K	$15K	—
Extended GALA-USD	+0.0104%	1h	0.002068	−0.090%	$1K	$84K	5x	as long as short
BloFin GALA-USDT	+0.0122%	8h	0.002070	−0.015%	$301K	$66K	20x	as long as short