Funding arb · Price arb /

IO

all IO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against KuCoin−0.180%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Variational Omni

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.180% cheaper against KuCoin than usual: you would sell low and buy high, −$18 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IOUSDTM	0.1524	0.0100	pay 0.0050% / 4h	3h 28m	$376K	$673K	50x
Short	Variational Omni IO	0.1521	0.0100	get 0.0050% / 4h	3h 28m	$33K	$8K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.180%Rate

Funding earned: $0
Price spread: −0.180% → 0.000%: −$17.95
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$29.95
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 25 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 KuCoin live order book, 25 min ago	6.60 bp	77.4 bp −$77	doesn't fit	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.

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
Hyperliquid IO	+0.0100%	1h	0.1524	−0.007%	$1.0M	$383K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1524	−0.028%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1525	+0.056%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1524	−0.033%	$1.1M	$894K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1523	−0.059%	$242K	$546K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1523	−0.066%	$1.2M	$230K	125x	as long as short
KuCoin IOUSDTMlong	+0.0100%	4h	0.1524	long leg	$376K	$673K	50x
Bitget IOUSDT	+0.0100%	4h	0.1524	0.000%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1524	0.000%	—	$1.3M	—	as long as short
Variational Omni IOshort	+0.0100%	4h	0.1521	−0.180%	$33K	$8K	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1525	+0.033%	$910	$144K	5x	as long as short
BloFin IO-USDT	+0.0146%	4h	0.1523	−0.066%	$194K	$32K	50x	as long as short
Injective IO/USDC PERP	+0.0414%	1h	0.1517	−0.459%	$2K	$202	5.5x	as long as short
Kraken Futures PF_IOUSD	+0.0618%	1h	0.1527	+0.164%	$40K	$18K	10x	as long as short