Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0244%/8h= −26.8% APRpaid last 24h −0.038%

Price spread now: Variational Omni against Kraken Futures−0.152%7-day average −0.103% · 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)−0.095%−$10 on $10k

Price spread, last 4 days (all we have)−0.115%−$12 · spread now −0.152%, 7d avg −0.103%

Together, before fees−0.210%+ Points / potential airdropVariational Omni: Active · farm board−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.049% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.103%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WIFUSD	0.2479	0.0344	pay 0.0043% / 1h	59m 42s	$642K	$2.7M	50x
Short	Variational Omni WIF	0.2475	0.0100	get 0.0050% / 4h	59m 42s	$73K	$193K	—

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 −0.152%Rate

Funding earned: −$51.31
Price spread: −0.152% → −0.103%: −$4.93
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: −$66.24
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 4 min ago; Variational Omni: RFQ quote, 29 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, 4 min ago	10.05 bp	27.7 bp −$28	62.6 bp −$626	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 29 min ago	8.15 bp	doesn't fit	28.5 bp −$285	doesn't fit	doesn't fit

WIF on 32 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 WIF/USDC PERP	−0.0467%	1h	0.2462	−0.679%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2476	−0.115%	$989K	$936K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2478	−0.034%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2477	−0.074%	$33K	$272K	25x	as long as short
Backpack WIF_USDC_PERP	+0.0001%	1h	0.2474	−0.207%	$74K	$301K	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2477	−0.060%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0010% / S +0.0237%	1h	0.2477	−0.087%	$19K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2472	−0.280%	$142K	$698K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2477	−0.074%	$52K	$572K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2469	−0.389%	$8.6M	$6.8M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2471	−0.334%	$30K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2478	−0.046%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2471	−0.325%	$18.8M	$145.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2473	−0.248%	$16.6M	$47.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2476	−0.115%	$5.5M	$42.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2468	−0.437%	$1.1M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2470	−0.357%	$22.1M	$12.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2472	−0.276%	$4.3M	$16.7M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2468	−0.437%	$7.4M	$15.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2469	−0.397%	—	$2.3M	—	as long as short
Variational Omni WIFshort	+0.0100%	4h	0.2475	−0.152%	$73K	$193K	—
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2482	+0.129%	$285K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2500	+0.854%	$46K	$635K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2476	−0.115%	$5K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2472	−0.276%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2477	−0.094%	$565	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2468	−0.437%	$154K	$947K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2470	−0.364%	$12K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2477	−0.094%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSDlong	+0.0344%	1h	0.2479	long leg	$642K	$2.7M	50x
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2478	−0.034%	$328K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2476	−0.111%	$0	—	15x	as long as short