Funding arb · Price arb /

MEW

all MEW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0689%/8h= +75.4% APRpaid last 24h +0.053%

Price spread now: Kraken Futures against Variational Omni+0.601%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 +$21 a day on $10k at the current rate, and Kraken Futures is 0.601% dearer against Variational Omni than usual: you sell high and buy low: +$60 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 MEW	0.0004726	0.0100	pay 0.0050% / 4h	1h 27m	$84K	$36K	—
Short	Kraken Futures PF_MEWUSD	0.0004755	0.0789	get 0.0099% / 1h	27m 55s	$92K	$135K	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 +0.601%Rate

Funding earned: $144.63
Price spread: +0.601% → 0.000%: $60.12
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: $194.75
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Kraken Futures: live order book, 14 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 14 min ago	11.64 bp	57.2 bp −$57	doesn't fit	doesn't fit	doesn't fit

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.

MEW on 12 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
GMX MEW/USD [WBTC.b-USDC]	L 0.0000% / S 0.0000%	1h	0.0004740	+0.293%	—	—	100x	as long as short
Injective MEW/USDC PERP	+0.0033%	1h	0.0004219	−10.731%	$46	$14K	5.5x	as long as short
Binance MEWUSDT	+0.0100%	4h	0.0004751	+0.534%	$1.3M	$3.6M	50x	as long as short
Bybit MEWUSDT	+0.0100%	4h	0.0004741	+0.314%	$1.5M	$1.6M	25x	as long as short
OKX MEW-USDT-SWAP	+0.0100%	4h	0.0004748	+0.462%	$547K	$917K	20x	as long as short
Gate MEW_USDT	+0.0100%	4h	0.0004733	+0.144%	$139K	$142K	50x	as long as short
MEXC MEW_USDT	+0.0100%	4h	0.0004750	+0.504%	$376K	$187K	125x	as long as short
KuCoin MEWUSDTM	+0.0100%	4h	0.0004743	+0.356%	$329K	$132K	30x	as long as short
Bitget MEWUSDT	+0.0100%	4h	0.0004752	+0.546%	$485K	$542K	50x	as long as short
BingX MEW-USDT	+0.0100%	4h	0.0004743	+0.356%	—	$6.7M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MEWlong	+0.0100%	4h	0.0004726	long leg	$84K	$36K	—
Kraken Futures PF_MEWUSDshort	+0.0789%	1h	0.0004755	+0.601%	$92K	$135K	10x