Funding arb · Price arb /

HYPER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Hyperliquid−0.019%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 HYPER	0.07426	0.0100	pay 0.0013% / 1h	24m 58s	$71K	$120K	3x
Short	Variational Omni HYPER	0.07425	0.0100	get 0.0050% / 4h	1h 24m	$7K	$1K	—

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 −0.019%Rate

Funding earned: $0
Price spread: −0.019% → 0.000%: −$1.92
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: −$10.92
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 44 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, 44 min ago	1.55 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.

HYPER on 10 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
KuCoin HYPERUSDTM	−0.0142%	4h	0.07409	−0.229%	$127K	$93K	30x	as long as short
Gate HYPER_USDT	−0.0008%	4h	0.07420	−0.081%	$90K	$46K	50x	as long as short
BloFin HYPER-USDT	+0.0051%	4h	0.07417	−0.121%	$189K	$22K	50x	as long as short
Hyperliquid HYPERlong	+0.0100%	1h	0.07426	long leg	$71K	$120K	3x
Aster HYPERUSDT	+0.0100%	4h	0.07426	−0.001%	$20K	$4K	5x	as long as short
Binance HYPERUSDT	+0.0100%	4h	0.07427	+0.009%	$2.0M	$2.1M	50x	as long as short
Bybit HYPERUSDT	+0.0100%	4h	0.07426	0.000%	$1.2M	$699K	25x	as long as short
MEXC HYPER_USDT	+0.0100%	4h	0.07426	0.000%	$255K	$130K	20x	as long as short
Bitget HYPERUSDT	+0.0100%	4h	0.07426	0.000%	$310K	$259K	50x	as long as short
Variational Omni HYPERshort	+0.0100%	4h	0.07425	−0.019%	$7K	$1K	—