Funding arb · Price arb /

DYM

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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 0.000%

Price spread now: Variational Omni against Hyperliquid+0.116%7-day average — · you sell dearer than you buy

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.116% dearer against Hyperliquid than usual: you sell high and buy low, +$12 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid DYM	0.01836	0.0100	pay 0.0013% / 1h	57m 46s	$369K	$242K	3x
Short	Variational Omni DYM	0.01838	0.0100	get 0.0050% / 4h	57m 46s	$9K	$5K	—

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

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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 HyperliquidbpFee Variational OmnibpOrdersPrice spread, now +0.116%Rate

Funding earned: $0
Price spread: +0.116% → 0.000%: $11.56
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: $2.56
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 32 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, 32 min ago	2.70 bp	doesn't fit	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.

DYM 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
dYdX DYM-USD	0.0000%	1h	0.01838	+0.090%	$252	$5	5x	as long as short
Injective DYM/USDC PERP	+0.0033%	1h	0.01718	−6.427%	$237	$12K	5.5x	as long as short
Hyperliquid DYMlong	+0.0100%	1h	0.01836	long leg	$369K	$242K	3x
Aster DYMUSDT	+0.0100%	4h	0.01839	+0.187%	$76K	$5K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01838	+0.109%	$2.4M	$4.5M	10x	as long as short
Bybit DYMUSDT	+0.0100%	4h	0.01835	−0.044%	$782K	$455K	25x	as long as short
Gate DYM_USDT	+0.0100%	4h	0.01840	+0.218%	$146K	$90K	25x	as long as short
MEXC DYM_USDT	+0.0100%	4h	0.01836	0.000%	$1.2M	$578K	20x	as long as short
Bitget DYMUSDT	+0.0100%	4h	0.01839	+0.163%	$407K	$159K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01839	+0.163%	—	$24.7M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DYMshort	+0.0100%	4h	0.01838	+0.116%	$9K	$5K	—
Extended DYM-USD	+0.0104%	1h	0.01838	+0.084%	$3K	$288K	5x	as long as short
KuCoin DYMUSDTM	+0.0354%	4h	0.01838	+0.109%	$433K	$142K	25x	as long as short
Kraken Futures PF_DYMUSD	+0.3702%	1h	0.01844	+0.442%	$15K	$5K	10x	as long as short