Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0364%/8h= −39.8% APRpaid last 24h −0.190%

Price spread now: Variational Omni against Kraken Futures+0.208%7-day average −0.218% · 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 3 days (all we have)−0.614%−$61 on $10k

Price spread, last 3 days (all we have)−0.764%−$76 · spread now +0.208%, 7d avg −0.218%

Together, before fees−1.378%+ Points / potential airdropVariational Omni: Active · farm board−$138 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.426% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.208% now, against its 7-day average of −0.218%): +$43 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02576	0.0464	pay 0.0058% / 1h	31m 37s	$270K	$78K	10x
Short	Variational Omni MON	0.02581	0.0100	get 0.0100% / 8h	7h 31m	$780K	$407K	—

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 +0.208%Rate

Funding earned: −$76.41
Price spread: +0.208% → −0.218%: $42.58
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: −$43.83
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 41 min ago; Variational Omni: RFQ quote, 42 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 live order book, 41 min ago	17.59 bp	34.4 bp −$34	8258.4 bp −$82.6K	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 42 min ago	13.71 bp	doesn't fit	123.4 bp −$1,234	doesn't fit	doesn't fit

MON on 33 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
Injective MON/USDC PERP	−0.0444%	1h	0.02576	+0.010%	$6K	$107	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02576	+0.026%	$13K	$351K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02573	−0.110%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0068%	4h	0.02572	−0.145%	$17K	$64K	10x	as long as short
01 Exchange MONUSD	+0.0088%	1h	0.02580	+0.150%	$6K	$1K	5x	as long as short
Lighter MON	+0.0096%	1h	0.02579	+0.127%	$859K	$754K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02577	+0.034%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02574	−0.064%	$393K	$536K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02581	+0.196%	$35.1M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02576	+0.008%	$107K	$231K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02575	−0.025%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02577	+0.053%	$142K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02577	+0.058%	$24.7M	$25.6M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02575	−0.029%	$21.4M	$12.2M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02574	−0.068%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02575	−0.029%	$106K	$2K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02576	+0.010%	$982K	$904K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02580	+0.165%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02575	−0.013%	$128K	$141K	10x	as long as short
Variational Omni MONshort	+0.0100%	8h	0.02581	+0.208%	$780K	$407K	—
edgeX MONUSDC	+0.0100%	4h	0.02578	+0.080%	$44K	$248K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02581	+0.221%	$585K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02574	−0.068%	$69K	$486K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02572	−0.145%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02580	+0.176%	$49K	$520K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02573	−0.110%	$39K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0135%	1h	0.02576	+0.021%	$4K	$76K	10x	as long as short
KuCoin MONUSDTM	+0.0138%	4h	0.02579	+0.127%	$3.0M	$725K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02572	−0.130%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02578	+0.088%	$1.4M	$308K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02571	−0.188%	$174K	$2.0M	10x	as long as short
Kraken Futures PF_MONUSDlong	+0.0464%	1h	0.02576	long leg	$270K	$78K	10x
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02577	+0.049%	$113K	$51K	50x	as long as short