Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−1.6635%/8h= −1821.5% APRpaid last 24h −3.378%

Price spread now: Variational Omni against Kraken Futures+0.297%7-day average — · 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)—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. Variational Omni is 0.297% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.297% now, against zero (this spread has no 7-day history yet)): +$30 on $10k if it goes back. Holding the pair costs −$499 a day in funding at the current rate, which eats that in about 1 hour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IOUSD	0.1501	1.6735	pay 0.2092% / 1h	26m 30s	$39K	$10K	10x
Short	Variational Omni IO	0.1505	0.0100	get 0.0050% / 4h	3h 26m	$33K	$14K	—

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 +0.297%Rate

Funding earned: −$3,493.34
Price spread: +0.297% → 0.000%: $29.72
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: −$3,473.62
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; 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 no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

Kraken Futures and 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.

IO on 14 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
BloFin IO-USDT	+0.0076%	4h	0.1501	+0.015%	$192K	$39K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1498	−0.178%	$1.0M	$367K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1499	−0.090%	$23K	$48K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1499	−0.126%	$3.0M	$6.5M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1497	−0.252%	$1.1M	$898K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1500	−0.038%	$229K	$555K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1499	−0.118%	$1.2M	$230K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1500	−0.052%	$354K	$629K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1500	−0.052%	$1.3M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1499	−0.118%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IOshort	+0.0100%	4h	0.1505	+0.297%	$33K	$14K	—
Extended IO-USD	+0.0104%	1h	0.1499	−0.092%	$1K	$138K	5x	as long as short
Injective IO/USDC PERP	+0.0193%	1h	0.1508	+0.481%	$2K	$200	5.5x	as long as short
Kraken Futures PF_IOUSDlong	+1.6735%	1h	0.1501	long leg	$39K	$10K	10x