Funding arb · Price arb /

0G

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0608%/8h= −66.6% APRpaid last 24h −0.182%

Price spread now: Variational Omni against Hyperliquid−0.377%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Variational Omni

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 airdropHyperliquid: Season 2 · Variational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Variational Omni is 0.377% cheaper against Hyperliquid than usual: you would sell low and buy high (−$38 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	Hyperliquid 0G	0.2310	0.0708	pay 0.0089% / 1h	1m 41s	$2.4M	$502K	3x
Short	Variational Omni 0G	0.2302	0.0100	get 0.0050% / 4h	1h 01m	$12K	$10K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Hyperliquid. 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 HyperliquidbpFee Variational OmnibpOrdersPrice spread, now −0.377%Rate

Funding earned: −$127.74
Price spread: −0.377% → 0.000%: −$37.7
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$174.44
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 min ago; 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 Hyperliquid live order book, 9 min ago	1.52 bp	22.6 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

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.

0G 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
BingX 0G-USDT	−0.0640%	4h	0.2307	−0.147%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2305	−0.225%	$2K	—	100x	as long as short
BloFin 0G-USDT	+0.0053%	4h	0.2308	−0.104%	$323K	$9K	50x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2306	−0.177%	$23K	$22K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2307	−0.147%	$6.7M	$8.9M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2306	−0.190%	$2.3M	$2.3M	50x	as long as short
OKX 0G-USDT-SWAP	+0.0100%	4h	0.2309	−0.061%	$874K	$2.3M	20x	as long as short
Gate 0G_USDT	+0.0100%	8h	0.2304	−0.277%	$594K	$165K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2307	−0.147%	$2.0M	$204K	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2307	−0.147%	$1.8M	$657K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 0Gshort	+0.0100%	4h	0.2302	−0.377%	$12K	$10K	—
ApeX Omni 0GUSDT	+0.0100%	1h	0.2303	−0.320%	$18K	$632K	50x	as long as short
Backpack 0G_USDC_PERP	+0.0108%	1h	0.2307	−0.147%	$37K	$47K	5x	as long as short
KuCoin 0GUSDTM	+0.0216%	4h	0.2308	−0.100%	$2.4M	$2.6M	50x	as long as short
Hyperliquid 0Glong	+0.0708%	1h	0.2310	long leg	$2.4M	$502K	3x
Lighter 0G	+0.0776%	1h	0.2310	−0.017%	$44K	$100K	3x	as long as short