Funding arb · Price arb /

RUNE

all RUNE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0745%/8h= +81.6% APRpaid last 24h +0.734%

Price spread now: dYdX against Variational Omni−0.176%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. dYdX is 0.176% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.176% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 19 hours of funding at the current rate (+$22 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni RUNE	0.6415	0.0100	pay 0.0100% / 8h	6h 44m	$156K	$37K	—
Short	dYdX RUNE-USD	0.6403	0.0845	get 0.0106% / 1h	44m 54s	$55K	$5K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Variational Omni. 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 Variational OmnibpFee dYdXbpOrdersPrice spread, now −0.176%Rate

Funding earned: $156.45
Price spread: −0.176% → 0.000%: −$17.6
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: $128.85
Costs to cover: 0.100%
Break-even: 1.2 days

Slippage unknown: Variational Omni: RFQ quote, 24 min ago; dYdX: 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 RFQ quote, 24 min ago	7.61 bp	doesn't fit	60.9 bp −$609	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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.

RUNE 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
Deribit RUNE_USDC-PERPETUAL	0.0000%	1h	0.6394	−0.320%	—	—	10x	as long as short
Injective RUNE/USDC PERP	+0.0033%	1h	0.6155	−4.046%	$7	$14	12x	as long as short
Binance RUNEUSDT	+0.0100%	8h	0.6406	−0.130%	$5.0M	$14.2M	75x	as long as short
Bybit RUNEUSDT	+0.0100%	8h	0.6400	−0.226%	$2.9M	$2.4M	75x	as long as short
Gate RUNE_USDT	+0.0100%	8h	0.6408	−0.101%	$646K	$354K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6408	−0.101%	$3.6M	$3.0M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6399	−0.242%	$905K	$276K	50x	as long as short
Bitget RUNEUSDT	+0.0100%	8h	0.6406	−0.133%	$1.6M	$709K	50x	as long as short
BingX RUNE-USDT	+0.0100%	8h	0.6399	−0.242%	—	$59.0M	—	as long as short
Variational Omni RUNElong	+0.0100%	8h	0.6415	long leg	$156K	$37K	—

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended RUNE-USD	+0.0104%	1h	0.6401	−0.213%	$4K	$165K	10x	as long as short
Coinbase International RUNE-PERP-INTX	+0.0104%	1h	0.6566	+2.362%	$39K	$32K	25x	as long as short
BloFin RUNE-USDT	+0.0127%	8h	0.6537	+1.910%	$478K	$193K	75x	as long as short
dYdX RUNE-USDshort	+0.0845%	1h	0.6403	−0.176%	$55K	$5K	5x
Hyperliquid RUNE	+0.0880%	1h	0.6414	−0.003%	$1.8M	$1.0M	5x	as long as short
Kraken Futures PF_RUNEUSD	+0.1744%	1h	0.6403	−0.177%	$184K	$274K	20x	as long as short