Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.027%

Price spread now: Variational Omni against Hyperliquid−0.004%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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ALT	0.007631	0.0100	pay 0.0013% / 1h	5m 30s	$1.1M	$176K	3x
Short	Variational Omni ALT	0.007631	0.0100	get 0.0050% / 4h	5m 30s	$4K	$16K	—

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 −0.004%Rate

Funding earned: $0
Price spread: −0.004% → 0.000%: −$0.44
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: −$9.44
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 5 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, 5 min ago	0.65 bp	31.8 bp −$32	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.

ALT on 14 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 ALT_USDC-PERPETUAL	0.0000%	1h	0.007637	+0.079%	—	$0	25x	as long as short
Hyperliquid ALTlong	+0.0100%	1h	0.007631	long leg	$1.1M	$176K	3x
Binance ALTUSDT	+0.0100%	4h	0.007635	+0.048%	$2.7M	$3.9M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007633	+0.026%	$1.2M	$1.9M	25x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007630	−0.013%	$50K	$421K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007636	+0.066%	$387K	$188K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007643	+0.157%	$152K	$22K	30x	as long as short
Bitget ALTUSDT	+0.0100%	4h	0.007634	+0.039%	$615K	$123K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007635	+0.052%	—	$1.3M	—	as long as short
Variational Omni ALTshort	+0.0100%	4h	0.007631	−0.004%	$4K	$16K	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ALT-USDT	+0.0130%	4h	0.007661	+0.393%	$173K	$11K	50x	as long as short
Kraken Futures PF_ALTUSD	+0.0313%	1h	0.007641	+0.135%	$45K	$8K	10x	as long as short
Coinbase International ALT-PERP-INTX	+0.0456%	1h	0.007691	+0.786%	$14K	$3K	50x	as long as short
Injective ALT/USDC PERP	+0.5000%	1h	0.007691	+0.786%	$837	$4K	5.5x	as long as short