Funding you earn now, next payment 04:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.033%
Price spread now: Hyperliquid against Variational Omni+0.196%7-day average +0.081% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.053%+$5 on $10k
+Price spread, last 4 days (all we have)−0.290%−$29 · spread now +0.196%, 7d avg +0.081%
=Together, before fees−0.237%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board−$24 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.115% dearer against Variational Omni than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.081%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni OP | 0.1263 | 0.0056 | pay 0.0056% / 8h | 4h 06m | $223K | $48K | — |
| Short | Hyperliquid OP | 0.1265 | 0.0100 | get 0.0013% / 1h | 6m 07s | $3.7M | $2.8M | 5x |
Variational Omni OP
Hyperliquid OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $9.25
- Price spread: +0.196% → +0.081%
- $11.51
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $11.76
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 53 min ago; Hyperliquid: live order book, 5 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 RFQ quote, 53 min ago | 7.92 bp | doesn't fit | 23.8 bp −$238 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 1.57 bp | 9.4 bp −$9 | 23.9 bp −$239 | doesn't fit | doesn't fit |
OP on 30 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective OP/USDC PERP | −0.1607% | 1h | 0.1262 | −0.081% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1264 | +0.097% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1264 | +0.059% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1264 | +0.077% | $42K | $139K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1265 | +0.128% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1263 | −0.002% | $6K | $45K | 10x | as long as short |
| Variational Omni OPlong | +0.0056% | 8h | 0.1263 | long leg | $223K | $48K | — | |
| OKX OP-USDT-SWAP | +0.0064% | 8h | 0.1264 | +0.069% | $6.2M | $28.5M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1264 | +0.101% | $278K | $941K | 15x | as long as short |
| Hyperliquid OPshort | +0.0100% | 1h | 0.1265 | +0.196% | $3.7M | $2.8M | 5x |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
OKX OP-USDT-SWAP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1265 | +0.180% | $211K | $219K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1264 | +0.077% | $20.4M | $60.3M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1263 | +0.006% | $18.6M | $24.8M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1264 | +0.077% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1264 | +0.077% | $21.3M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1263 | −0.002% | $2.9M | $6.5M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1264 | +0.077% | $5.8M | $6.4M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1264 | +0.045% | — | $6.3M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1263 | +0.021% | $120K | $200K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1271 | +0.598% | $4K | $386K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1270 | +0.552% | $318K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1271 | +0.631% | $44K | $711K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1264 | +0.061% | $209 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1264 | +0.101% | $174K | $226K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1263 | +0.031% | $104K | $394K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1264 | +0.041% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0168% | 1h | 0.1262 | −0.081% | $24K | $63K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1268 | +0.370% | $1.0M | $280K | 75x | as long as short |
| Kraken Futures PF_OPUSD | +0.0348% | 1h | 0.1265 | +0.134% | $783K | $548K | 20x | as long as short |
| Reya OPRUSDPERP | +0.0441% | 1h | 0.1264 | +0.101% | $703 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Kraken Futures PF_OPUSD
Reya OPRUSDPERP