Funding arb · Price arb /

HEMI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.030%

Price spread now: Bybit against Variational Omni−0.071%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

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 airdropVariational 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: Bybit is 0.071% cheaper against Variational Omni than usual: you would sell low and buy high, −$7 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	Variational Omni HEMI	0.006499	0.0100	pay 0.0050% / 4h	59m 15s	$23K	$4K	—
Short	Bybit HEMIUSDT	0.006494	0.0100	get 0.0050% / 4h	59m 15s	$1.7M	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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

Position, each leg$Hold fordaysFee Variational OmnibpFee BybitbpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → 0.000%: −$7.11
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$18.11
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Bybit: live order book, 2 min ago. 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 no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	4.62 bp	81.3 bp −$81	524.1 bp −$5,241	doesn't fit	doesn't fit

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.

HEMI 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
Aster HEMIUSDT	+0.0100%	4h	0.006492	−0.099%	$75K	$34K	5x	as long as short
Binance HEMIUSDT	+0.0100%	4h	0.006500	+0.021%	$6.4M	$10.3M	20x	as long as short
Bybit HEMIUSDTshort	+0.0100%	4h	0.006494	−0.071%	$1.7M	$1.4M	25x
Gate HEMI_USDT	+0.0100%	4h	0.006500	+0.021%	$497K	$230K	20x	as long as short
MEXC HEMI_USDT	+0.0100%	4h	0.006499	+0.006%	$1.7M	$283K	50x	as long as short
KuCoin HEMIUSDTM	+0.0100%	4h	0.006503	+0.067%	$831K	$1.7M	20x	as long as short
BingX HEMI-USDT	+0.0100%	4h	0.006498	−0.010%	—	$1.3M	—	as long as short
Variational Omni HEMIlong	+0.0100%	4h	0.006499	long leg	$23K	$4K	—
SunX HEMI-USDT	+0.0100%	4h	0.006645	+2.252%	$1K	$1.1M	20x	as long as short
BloFin HEMI-USDT	+0.0103%	4h	0.006503	+0.067%	$351K	$66K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended HEMI-USD	+0.0104%	1h	0.006499	+0.006%	$17K	$516	5x	as long as short
Hyperliquid HEMI	+0.0855%	1h	0.006511	+0.190%	$1.0M	$294K	3x	as long as short