Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0728%/8h= +79.7% APRpaid last 24h +0.038%

Price spread now: Kraken Futures against Variational Omni−1.347%7-day average +0.102% · you buy dearer than you sell

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)+0.099%+$10 on $10k

Price spread, last 4 days (all we have)+1.518%+$152 · spread now −1.347%, 7d avg +0.102%

Together, before fees+1.617%+ Points / potential airdropVariational Omni: Active · farm board+$162 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 1.450% cheaper against Variational Omni than usual: you would sell low and buy high (spread −1.347% now, against its 7-day average of +0.102%). If the spread goes back, that is −$145 on $10k: about 6.6 days of funding at the current rate (+$22 a day). At the pace of the last 4 days (+0.099% in total) that is about 53 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.099% in total (about 9.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni WIF	0.2481	0.0100	pay 0.0050% / 4h	8m 11s	$91K	$211K	—
Short	Kraken Futures PF_WIFUSD	0.2448	0.0828	get 0.0104% / 1h	8m 11s	$646K	$2.7M	50x

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

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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 Kraken FuturesbpOrdersPrice spread, now −1.347%Rate

Funding earned: $152.93
Price spread: −1.347% → +0.102%: −$144.95
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: −$2.02
Costs to cover: 0.100%
Break-even: 7.1 days

Slippage unknown: Variational Omni: RFQ quote, 16 min ago; Kraken Futures: live order book, 6 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 RFQ quote, 16 min ago	7.97 bp	doesn't fit	27.9 bp −$279	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	11.78 bp	27.9 bp −$28	48.5 bp −$485	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
GMX WIF/USD [WBTC.b-USDC]	L −0.0218% / S +0.0284%	1h	0.2446	−1.424%	$19K	—	100x	as long as short
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−0.773%	$10K	$11K	12x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0159%	1h	0.2444	−1.499%	$32K	$275K	25x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2447	−1.378%	$994K	$930K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0015%	1h	0.2445	−1.451%	$72K	$312K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2447	−1.378%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2447	−1.397%	$4K	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2447	−1.386%	$141K	$744K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2450	−1.257%	$52K	$577K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2448	−1.338%	$9.1M	$7.6M	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	0.2447	−1.360%	$29K	$353K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2446	−1.401%	$77K	$77K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2446	−1.418%	$18.8M	$152.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2445	−1.459%	$16.7M	$50.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2446	−1.418%	$5.7M	$43.7M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2445	−1.459%	$1.2M	$9.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2445	−1.459%	$23.9M	$13.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2446	−1.418%	$4.0M	$17.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2446	−1.418%	$7.4M	$16.6M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2447	−1.378%	—	$27.2M	—	as long as short
Variational Omni WIFlong	+0.0100%	4h	0.2481	long leg	$91K	$211K	—
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2482	+0.050%	$279K	$3.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2482	+0.033%	$45K	$640K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2444	−1.499%	$6K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2439	−1.700%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2444	−1.499%	$564	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2445	−1.459%	$154K	$917K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2443	−1.542%	$9K	$176K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2442	−1.559%	$81K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2446	−1.418%	$321K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2449	−1.289%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSDshort	+0.0828%	1h	0.2448	−1.347%	$646K	$2.7M	50x