Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.010%

Price spread now: Injective against Variational Omni+2.307%91s7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Injective

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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 2.307% dearer against Variational Omni than usual: you sell high and buy low: +$231 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 91 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XTZ	0.3405	−0.0032	get 0.0016% / 4h	3h 03m	$103K	$297K	—
Short	Injective XTZ/USDC PERP	0.3484	0.0033	get 0.0004% / 1h	3m 51s	$62	$17K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.307%Rate

Funding earned: $13.76
Price spread: +2.307% → 0.000%: $230.7
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $244.43
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 30 min ago; Injective: 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, 30 min ago	5.93 bp	doesn't fit	50.4 bp −$504	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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.

XTZ on 12 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
Bitget XTZUSDT	−0.0132%	4h	0.3406	+0.016%	$922K	$836K	75x	as long as short
Kraken Futures PF_XTZUSD	−0.0099%	1h	0.3417	+0.349%	$282K	$276K	50x	as long as short
Variational Omni XTZlong	−0.0032%	4h	0.3405	long leg	$103K	$297K	—
Injective XTZ/USDC PERPshort	+0.0033%	1h	0.3484	+2.307%	$62	$17K	5.5x
Bybit XTZUSDT	+0.0064%	4h	0.3407	+0.046%	$2.7M	$2.5M	75x	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3405	+0.001%	$4.7M	$9.1M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3406	+0.016%	$1.2M	$1.2M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3406	+0.016%	$624K	$155K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3406	+0.016%	$2.2M	$758K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3407	+0.046%	$629K	$202K	30x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XTZ-USDT	+0.0100%	4h	0.3405	−0.013%	—	$1.1M	—	as long as short
BloFin XTZ-USDT	+0.0128%	4h	0.3406	+0.016%	$282K	$95K	75x	as long as short