Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Hyperliquid+0.214%7-day average +0.109% · 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)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.010%−$1 · spread now +0.214%, 7d avg +0.109%

Together, before fees−0.010%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board−$1 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: Variational Omni is 0.105% dearer against Hyperliquid than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.109%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MELANIA	0.1088	0.0100	pay 0.0013% / 1h	46m 33s	$1.7M	$200K	3x
Short	Variational Omni MELANIA	0.1090	0.0100	get 0.0050% / 4h	3h 46m	$113K	$590	—

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 +0.214%Rate

Funding earned: $0
Price spread: +0.214% → +0.109%: $10.48
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: $1.48
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 4 min ago; Variational Omni: RFQ quote, 27 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, 4 min ago	1.84 bp	22.8 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 27 min ago	13.81 bp	doesn't fit	151.9 bp −$1,519	doesn't fit	doesn't fit

MELANIA on 13 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
BloFin MELANIA-USDT	+0.0073%	4h	0.1089	+0.092%	$196K	$6K	75x	as long as short
Hyperliquid MELANIAlong	+0.0100%	1h	0.1088	long leg	$1.7M	$200K	3x
Binance MELANIAUSDT	+0.0100%	4h	0.1088	−0.017%	$3.0M	$3.0M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1089	+0.083%	$1.5M	$678K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1086	−0.147%	$421K	$54K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1089	+0.129%	$1.2M	$135K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1086	−0.156%	$410K	$1.1M	30x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1089	+0.101%	$965K	$211K	50x	as long as short
BingX MELANIA-USDT	+0.0100%	4h	0.1090	+0.165%	—	$1.5M	—	as long as short
Variational Omni MELANIAshort	+0.0100%	4h	0.1090	+0.214%	$113K	$590	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo MELANIA-PERP	+0.0104%	1h	0.1078	−0.880%	$247K	—	3x	as long as short
Aster MELANIAUSDT	+0.0587%	4h	0.1088	+0.064%	$21K	$16K	5x	as long as short
Kraken Futures PF_MELANIAUSD	+0.0976%	1h	0.1090	+0.171%	$25K	$3K	10x	as long as short