Funding you earn now, next payment 22:00 UTC−0.1412%/8h= −154.6% APRpaid last 24h −0.234%
Price spread now: Variational Omni against Hyperliquid−0.345%7-day average −0.255% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.301%−$30 on $10k
+Price spread, last 3 days (all we have)+0.274%+$27 · spread now −0.345%, 7d avg −0.255%
=Together, before fees−0.027%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board−$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$42 a day on $10k at the current rate, and Variational Omni is 0.090% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.255%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.301% in total (about -34.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid POPCAT | 0.05501 | 0.1512 | pay 0.0189% / 1h | 40m 26s | $2.5M | $1.1M | 3x |
| Short | Variational Omni POPCAT | 0.05482 | 0.0100 | get 0.0050% / 4h | 2h 40m | $502K | $174K | — |
Hyperliquid POPCAT
Variational Omni POPCATFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$296.47
- Price spread: −0.345% → −0.255%
- −$9.02
- 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
- −$314.49
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 1 min ago; Variational Omni: RFQ quote, 48 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, 1 min ago | 1.55 bp | 21.6 bp −$22 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 48 min ago | 8.13 bp | doesn't fit | 91.2 bp −$912 | doesn't fit | doesn't fit |
POPCAT on 18 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 POPCAT/USDC PERP | −0.4569% | 1h | 0.05434 | −1.218% | $3K | $2K | 5.5x | as long as short |
| Kraken Futures PF_POPCATUSD | −0.1070% | 1h | 0.05478 | −0.415% | $140K | $114K | 20x | as long as short |
| Reya POPCATRUSDPERP | −0.0228% | 1h | 0.05488 | −0.234% | $1 | — | 10x | as long as short |
| Lighter POPCAT | +0.0096% | 1h | 0.05489 | −0.218% | $100K | $45K | 10x | as long as short |
| Binance POPCATUSDT | +0.0100% | 4h | 0.05490 | −0.209% | $2.3M | $6.3M | 50x | as long as short |
| Bybit POPCATUSDT | +0.0100% | 4h | 0.05478 | −0.418% | $8.8M | $5.8M | 50x | as long as short |
| OKX POPCAT-USDT-SWAP | +0.0100% | 4h | 0.05487 | −0.254% | $675K | $1.4M | 20x | as long as short |
| Gate POPCAT_USDT | +0.0100% | 4h | 0.05490 | −0.200% | $416K | $673K | 50x | as long as short |
| MEXC POPCAT_USDT | +0.0100% | 4h | 0.05490 | −0.200% | $1.9M | $909K | 200x | as long as short |
| KuCoin POPCATUSDTM | +0.0100% | 4h | 0.05489 | −0.218% | $1.1M | $992K | 50x | as long as short |
Injective POPCAT/USDC PERP
Kraken Futures PF_POPCATUSD
Reya POPCATRUSDPERP
Lighter POPCAT
Binance POPCATUSDT
Bybit POPCATUSDT
OKX POPCAT-USDT-SWAP
Gate POPCAT_USDT
MEXC POPCAT_USDT
KuCoin POPCATUSDTMShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget POPCATUSDT | +0.0100% | 4h | 0.05484 | −0.309% | $1.1M | $884K | 50x | as long as short |
| BingX POPCAT-USDC | +0.0100% | 4h | 0.05483 | −0.327% | — | $1.6M | — | as long as short |
| Variational Omni POPCATshort | +0.0100% | 4h | 0.05482 | −0.345% | $502K | $174K | — | |
| GRVT POPCAT_USDT_Perp | +0.0100% | 4h | 0.05500 | −0.016% | $244K | $501K | 10x | as long as short |
| ApeX Omni POPCATUSDT | +0.0100% | 1h | 0.05500 | −0.018% | $22K | $639K | 25x | as long as short |
| Extended POPCAT-USD | +0.0104% | 1h | 0.05486 | −0.268% | $97K | $440K | 10x | as long as short |
| BloFin POPCAT-USDT | +0.0340% | 4h | 0.05499 | −0.036% | $125K | $282K | 50x | as long as short |
| Hyperliquid POPCATlong | +0.1512% | 1h | 0.05501 | long leg | $2.5M | $1.1M | 3x |
Bitget POPCATUSDT
BingX POPCAT-USDC
GRVT POPCAT_USDT_Perp
ApeX Omni POPCATUSDT
Extended POPCAT-USD
BloFin POPCAT-USDT