Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0182%/8h= −19.9% APRpaid last 24h −0.130%

Price spread now: Variational Omni against Hyperliquid+0.025%7-day average −0.085% · 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)−0.250%−$25 on $10k

Price spread, last 7 days−0.059%−$6 · spread now +0.025%, 7d avg −0.085%

Together, before fees−0.309%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.110% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.025% now, against its 7-day average of −0.085%): +$11 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LTC	62.416	0.0100	pay 0.0013% / 1h	18m 16s	$38.4M	$23.1M	10x
Short	Variational Omni LTC	62.432	−0.0082	pay 0.0082% / 8h	2h 18m	$3.6M	$4.0M	—

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 +0.025%Rate

Funding earned: −$38.19
Price spread: +0.025% → −0.085%: $10.99
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: −$36.2
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 5 min ago; Variational Omni: RFQ quote, 1 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 Hyperliquid live order book, 5 min ago	1.36 bp	6.8 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	3.50 bp	doesn't fit	16.3 bp −$163	doesn't fit	doesn't fit

LTC on 37 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
Polymarket Perps LTC-USD	−0.0307%	1h	62.306	−0.176%	$79K	$371K	10x	as long as short
Variational Omni LTCshort	−0.0082%	8h	62.432	+0.025%	$3.6M	$4.0M	—
GMX LTC/USD [ETH-USDC]	L −0.0029% / S +0.0259%	1h	62.364	−0.083%	$129K	—	200x	as long as short
Gate LTC_USDT	−0.0027%	8h	62.340	−0.122%	$12.8M	$20.9M	75x	as long as short
Kalshi KXLTCPERP	0.0000%	8h	62.432	+0.026%	$348K	$4.0M	4x	as long as short
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	62.395	−0.034%	$698K	$1.0M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	62.374	−0.068%	$31K	—	150x	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−5.906%	$5K	$22K	12x	as long as short
Backpack LTC_USDC_PERP	+0.0057%	1h	62.334	−0.131%	$161K	$268K	10x	as long as short
Bybit LTCUSDT	+0.0082%	8h	62.340	−0.122%	$79.0M	$59.7M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter LTC	+0.0096%	1h	62.429	+0.021%	$1.3M	$1.2M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	62.360	−0.090%	$12K	$212K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	62.338	−0.125%	$16K	$10K	20x	as long as short
Nado LTC-PERP	+0.0100%	1h	62.330	−0.138%	$253K	$327K	10x	as long as short
Hyperliquid LTClong	+0.0100%	1h	62.416	long leg	$38.4M	$23.1M	10x
Aster LTCUSDT	+0.0100%	8h	62.427	+0.018%	$2.6M	$2.1M	75x	as long as short
Pacifica LTC	+0.0100%	1h	62.351	−0.105%	$546K	$84K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	62.350	−0.106%	$96.5M	$221.3M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	62.340	−0.122%	$27.8M	$75.2M	50x	as long as short
MEXC LTC_USDT	+0.0100%	8h	62.340	−0.122%	$61.6M	$35.3M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	62.350	−0.106%	$18.8M	$12.1M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	62.380	−0.058%	$32.4M	$21.8M	75x	as long as short
BingX LTC-USDT	+0.0100%	8h	62.340	−0.122%	—	$37.5M	—	as long as short
edgeX LTCUSDC	+0.0100%	4h	62.447	+0.049%	$42K	$346K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	62.388	−0.045%	$345K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	62.460	+0.070%	$104K	$711K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	62.450	+0.054%	$17K	$4.2M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	62.340	−0.122%	$642	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	62.330	−0.138%	$1.9M	$4.9M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	62.360	−0.090%	$22.3M	$9.1M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	62.333	−0.133%	$694K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	62.359	−0.091%	$476K	$499	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	62.360	−0.090%	$4.9M	$11.8M	50x	as long as short
Kraken Futures PF_LTCUSD	+0.0226%	1h	62.400	−0.025%	$6.9M	$5.8M	50x	as long as short
Reya LTCRUSDPERP	+0.0334%	1h	62.333	−0.132%	$8K	—	25x	as long as short
dYdX LTC-USD	+0.0536%	1h	62.360	−0.090%	$438K	$8K	10x	as long as short
Coinbase International LTC-PERP-INTX	+0.0712%	1h	62.580	+0.263%	$1.2M	$2.1M	50x	as long as short