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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%
Price spread now: Hyperliquid against Variational Omni+0.229%7-day average +0.034% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.033%+$3 on $10k
Price spread, last 7 days−0.196%−$20 · spread now +0.229%, 7d avg +0.034%
Together, before fees−0.164%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board−$16 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.196% dearer against Variational Omni than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of +0.034%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni ETH2,7690.0100pay 0.0100% / 8h16m 32s$147.5M$336.1M—
ShortHyperliquid ETH2,775.30.0100get 0.0013% / 1h16m 32s$3.17B$2.36B25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Variational Omni. 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

Funding earned
$0
Price spread: +0.229% → +0.034%
$19.55
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$10.55
Costs to cover
0.090%
Break-even
from the start
Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Hyperliquid: live order book, 8 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Variational Omni RFQ quote, 3 min ago0.50 bpdoesn't fit0.5 bp −$51.6 bp −$162doesn't fit
Sell Hyperliquid live order book, 8 min ago0.18 bp4.7 bp −$54.7 bp −$475.8 bp −$5778.1 bp −$4,043

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETH−0.0223%43m2,772.5+0.126%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,773+0.144%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.248%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,772.9+0.142%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0026%1h2,773+0.145%$8.8M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,773.4+0.160%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,773.5+0.163%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,769.9+0.034%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,772.9+0.140%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,772.6+0.130%$1.70B$11.89B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,771.4+0.087%$12.8M—200xas long as short
Aftermath Perps ETHUSD+0.0026%1h2,772.4+0.126%$29K$22K20xas long as short
Phemex ETHUSDT+0.0032%8h2,772.2+0.115%$270.3M$68.9M150xas long as short
Aster ETHUSDT+0.0033%8h2,773+0.144%$256.0M$1.00B200xas long as short
SoDEX ETH-USD+0.0040%1h2,772.1+0.113%$55.2M$229.0M40xas long as short
Bullet ETH-USD+0.0043%1h2,772.2+0.117%$181K$1.7M20xas long as short
Aevo ETH-PERP+0.0056%1h2,771.8+0.103%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0057%8h2,772.8+0.137%$1.62B$2.66B500xas long as short
Binance ETHUSDT+0.0058%8h2,772.7+0.133%$6.46B$17.31B150xas long as short
Bitget ETHUSDT+0.0065%8h2,772.8+0.139%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0068%8h2,772.9+0.142%$3.29B$9.68B200xas long as short
Deribit ETH-PERPETUAL+0.0075%1h2,773.8+0.174%$259.0M$222.5M50xas long as short
KuCoin ETHUSDTM+0.0081%8h2,772.8+0.140%$421.2M$739.2M100xas long as short
BingX ETH-USDT+0.0088%8h2,772.8+0.138%—$1.24B—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,773.3+0.156%$60.2M$4.60B50xas long as short
Bybit ETHUSDT+0.0088%8h2,772.9+0.142%$2.51B$4.63B150xas long as short
Vest ETH-PERP+0.0094%1h2,773.2+0.154%—$1.1M50xas long as short
HTX ETH-USDT+0.0095%8h2,771.2+0.080%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,773.4+0.161%$115.2M$500.1M50xas long as short
Lighter RH ETH+0.0096%1h2,775.1+0.221%$25.3M$121.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,773.3+0.155%—$43.4M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,773+0.146%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,772.6+0.131%$476K$2.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,772.6+0.132%$14.3M$118.3M50xas long as short
Hyperliquid ETHshort+0.0100%1h2,775.3+0.229%$3.17B$2.36B25x
Pacifica ETH+0.0100%1h2,773.6+0.166%$31.3M$315.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,772.8+0.138%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,773.9+0.177%$2.7M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,773+0.144%$170.1M$265.7M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,772.1+0.114%$15.1M$44.3M50xas long as short
Variational Omni ETHlong+0.0100%8h2,769long leg$147.5M$336.1M—
edgeX ETHUSDC+0.0100%4h2,771.2+0.080%$181.9M$784.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,773+0.145%$161.2M$89.9M50xas long as short
StandX ETH-USD+0.0100%1h2,771.2+0.080%$21.4M$58.5M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,773+0.145%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,772+0.110%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,772+0.109%$972K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,773.2+0.153%$42.7M$29.4M15xas long as short
Extended ETH-USD+0.0104%1h2,772.1+0.113%$32.5M$78.2M50xas long as short
Kalshi KXETHPERP+0.0113%8h2,773+0.145%$8.3M$687.6M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,773.5+0.163%$89.1M$337.3M100xas long as short
Orderly PERP_ETH_USDC+0.0142%8h2,773.4+0.160%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0178%8h2,772.1+0.113%$286.4M$194.7M150xas long as short
Reya ETHRUSDPERP+0.0204%1h2,772.5+0.129%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0216%1h2,772.2+0.116%$252K$1.6M20xas long as short