Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+3.8513%/8h= +4217.2% APRpaid last 24h +3.454%

Price spread now: Kraken Futures against Variational Omni+0.095%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Kraken Futures

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

Both sides work for this trade now. Funding pays +$1,155 a day on $10k at the current rate, and Kraken Futures is 0.095% dearer against Variational Omni than usual: you sell high and buy low: +$10 more if the spread 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	Variational Omni IO	0.1492	0.0100	pay 0.0050% / 4h	1h 02m	$30K	$18K	—
Short	Kraken Futures PF_IOUSD	0.1493	3.8613	get 0.4827% / 1h	2m 22s	$39K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.095%Rate

Funding earned: $8,087.69
Price spread: +0.095% → 0.000%: $9.54
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $8,087.23
Costs to cover: 0.100%
Break-even: 0.0 days

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

Variational Omni and Kraken Futures: 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	0.1492	−0.016%	$996K	$267K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1491	−0.074%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1491	−0.052%	$3.0M	$5.0M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1488	−0.251%	$1.1M	$662K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1490	−0.090%	$230K	$481K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1489	−0.184%	$1.2M	$227K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1489	−0.184%	$335K	$194K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1493	+0.085%	$1.4M	$994K	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1491	−0.050%	—	$1.3M	—	as long as short
Variational Omni IOlong	+0.0100%	4h	0.1492	long leg	$30K	$18K	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1490	−0.095%	$2K	$207K	5x	as long as short
BloFin IO-USDT	+0.0156%	4h	0.1494	+0.152%	$192K	$34K	50x	as long as short
Injective IO/USDC PERP	+0.0204%	1h	0.1498	+0.420%	$2K	$201	5.5x	as long as short
Kraken Futures PF_IOUSDshort	+3.8613%	1h	0.1493	+0.095%	$39K	$7K	10x