Funding arb · Price arb /

RIVER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0511%/8h= −56.0% APRpaid last 24h −0.027%

Price spread now: Variational Omni against Kraken Futures−0.118%7-day average — · you buy dearer than you sell

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

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Variational Omni is 0.118% cheaper against Kraken Futures than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_RIVERUSD	1.2848	0.0611	pay 0.0076% / 1h	27m 42s	$58K	$67K	10x
Short	Variational Omni RIVER	1.2833	0.0100	get 0.0050% / 4h	3h 27m	$43K	$4K	—

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

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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.118%Rate

Funding earned: −$107.32
Price spread: −0.118% → 0.000%: −$11.78
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: −$129.1
Costs to cover: 0.100%
Break-even: never at this rate

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

Kraken Futures and 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.

RIVER on 16 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
Lighter RIVER	+0.0096%	1h	1.2810	−0.295%	$41K	$14K	3x	as long as short
KuCoin RIVERUSDTM	+0.0100%	4h	1.2820	−0.217%	$2.5M	$3.5M	50x	as long as short
Variational Omni RIVERshort	+0.0100%	4h	1.2833	−0.118%	$43K	$4K	—
SunX RIVER-USDT	+0.0100%	4h	1.2800	−0.373%	$2K	$1.1M	20x	as long as short
HTX RIVER-USDT	+0.0100%	4h	1.2860	+0.094%	$50K	$71K	20x	as long as short
OKX RIVER-USDT-SWAP	+0.0242%	4h	1.2820	−0.217%	$2.1M	$4.0M	20x	as long as short
GRVT RIVER_USDT_Perp	+0.0382%	4h	1.2840	−0.062%	$30K	$459K	10x	as long as short
Bitget RIVERUSDT	+0.0470%	4h	1.2810	−0.295%	$3.1M	$2.2M	20x	as long as short
MEXC RIVER_USDT	+0.0490%	4h	1.2820	−0.217%	$3.7M	$1.6M	50x	as long as short
Binance RIVERUSDT	+0.0492%	4h	1.2830	−0.139%	$6.2M	$11.3M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit RIVERUSDT	+0.0520%	4h	1.2800	−0.373%	$3.9M	$1.8M	25x	as long as short
BloFin RIVER-USDT	+0.0535%	4h	1.2850	+0.016%	$413K	$33K	50x	as long as short
Kraken Futures PF_RIVERUSDlong	+0.0611%	1h	1.2848	long leg	$58K	$67K	10x
BingX RIVER-USDT	+0.0672%	4h	1.2820	−0.217%	—	$6.8M	—	as long as short
Aster RIVERUSDT	+0.0849%	4h	1.2810	−0.293%	$73K	$27K	10x	as long as short
Gate RIVER_USDT	+0.0878%	4h	1.2830	−0.139%	$432K	$103K	20x	as long as short