Funding arb · Price arb /

MELANIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1712%/8h= −187.5% APRpaid last 24h +0.179%

Price spread now: Variational Omni against Kraken Futures+0.057%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 0.057% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.057% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$51 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MELANIAUSD	0.1092	0.1812	pay 0.0227% / 1h	1m 39s	$25K	$3K	10x
Short	Variational Omni MELANIA	0.1092	0.0100	get 0.0050% / 4h	2h 01m	$113K	$672	—

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 +0.057%Rate

Funding earned: −$359.59
Price spread: +0.057% → 0.000%: $5.68
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: −$363.91
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Variational Omni: RFQ quote, 47 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 no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 47 min ago	13.67 bp	doesn't fit	223.2 bp −$2,232	doesn't fit	doesn't fit

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.

MELANIA on 13 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 MELANIA	+0.0100%	1h	0.1092	+0.024%	$1.7M	$224K	3x	as long as short
Binance MELANIAUSDT	+0.0100%	4h	0.1092	+0.024%	$3.0M	$3.4M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1092	+0.042%	$1.5M	$849K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1088	−0.315%	$406K	$121K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1093	+0.088%	$1.2M	$140K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1091	−0.068%	$411K	$1.9M	30x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1092	+0.070%	$937K	$253K	50x	as long as short
BingX MELANIA-USDT	+0.0100%	4h	0.1093	+0.125%	—	$1.5M	—	as long as short
Variational Omni MELANIAshort	+0.0100%	4h	0.1092	+0.057%	$113K	$672	—
Aevo MELANIA-PERP	+0.0104%	1h	0.1094	+0.235%	$250K	—	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MELANIA-USDT	+0.0122%	4h	0.1093	+0.134%	$188K	$5K	75x	as long as short
Aster MELANIAUSDT	+0.0871%	4h	0.1091	−0.077%	$21K	$17K	5x	as long as short
Kraken Futures PF_MELANIAUSDlong	+0.1812%	1h	0.1092	long leg	$25K	$3K	10x