Funding arb · Price arb /

MOODENG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0027%/8h= −2.9% APRpaid last 24h +0.049%

Price spread now: Variational Omni against Hyperliquid+0.040%7-day average — · 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)—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

The price spread pays, funding is against you. Variational Omni is 0.040% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.040% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MOODENG	0.04756	0.0127	pay 0.0016% / 1h	41m 24s	$462K	$414K	3x
Short	Variational Omni MOODENG	0.04758	0.0100	get 0.0050% / 4h	2h 41m	$7K	$29K	—

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 +0.040%Rate

Funding earned: −$5.62
Price spread: +0.040% → 0.000%: $4.04
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: −$10.58
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 43 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, 43 min ago	2.11 bp	17.4 bp −$17	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.

MOODENG on 17 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
GMX MOODENG/USD [WBTC.b-USDC]	L −1.1224% / S +0.0193%	1h	0.04748	−0.181%	$18	—	100x	as long as short
Aster MOODENGUSDT	+0.0100%	4h	0.04745	−0.243%	$10K	$31K	5x	as long as short
Binance MOODENGUSDT	+0.0100%	4h	0.04754	−0.043%	$2.6M	$11.0M	50x	as long as short
Bybit MOODENGUSDT	+0.0100%	4h	0.04754	−0.044%	$1.7M	$4.2M	50x	as long as short
OKX MOODENG-USDT-SWAP	+0.0100%	4h	0.04753	−0.065%	$2.1M	$4.4M	20x	as long as short
Gate MOODENG_USDT	+0.0100%	4h	0.04745	−0.233%	$564K	$757K	50x	as long as short
MEXC MOODENG_USDT	+0.0100%	4h	0.04752	−0.086%	$894K	$299K	50x	as long as short
KuCoin MOODENGUSDTM	+0.0100%	4h	0.04750	−0.128%	$1.7M	$2.9M	50x	as long as short
Variational Omni MOODENGshort	+0.0100%	4h	0.04758	+0.040%	$7K	$29K	—
GRVT MOODENG_USDT_Perp	+0.0100%	4h	0.04755	−0.019%	$414K	$2.2M	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MOODENG-USDT	+0.0100%	4h	0.04859	+2.164%	$1K	$1.8M	20x	as long as short
Hyperliquid MOODENGlong	+0.0127%	1h	0.04756	long leg	$462K	$414K	3x
Bitget MOODENGUSDT	+0.0146%	4h	0.04756	−0.002%	$1.2M	$1.2M	50x	as long as short
BingX MOODENG-USDT	+0.0158%	4h	0.04753	−0.065%	—	$6.7M	—	as long as short
BloFin MOODENG-USDT	+0.0159%	4h	0.04751	−0.107%	$181K	$137K	50x	as long as short
ApeX Omni MOODENGUSDT	+0.0760%	1h	0.04758	+0.040%	$22K	$640K	25x	as long as short
Kraken Futures PF_MOODENGUSD	+0.9938%	1h	0.04795	+0.813%	$67K	$101K	20x	as long as short