TxFlow Level Up: trade perps and earn up to 300 USDC at $4M volume. Until Nov 2 Join
Settings8H · net · $10k
LanguageThe language of the site
ThemeDark, or a soft blue-grey
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / Crypto

SOPH

All SOPH markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
Variational OmniSOPHON
0.001638+0.0100pay 0.0012% / 1h34m 00s$23K$374K50xLong Variational Omni+15% pts
SHORT
HyperliquidSOPH
0.001621+0.0100get 0.0013% / 1h34m 00s$478K$1.7M3xShort Hyperliquid4% off
Price gap−1.036%
Funding gap0.0000% /8h

Funding is ≈ 0 and the gap is 0.945% under its 7d average: the price leg works against you, −$95 on $10k if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding+$1610.0000% /8h now · paid +1.608% over the last 7D
Price−$95spread −1.036% now, avg −0.091% → −0.945% if it goes back
Costs−$5725.723% of $10k · taker + slippage, in and out
Result−$506−5.06%+ Points / potential airdropVariational Omni: points · Hyperliquid: Season 2 · farm boardWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−1.036%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

SOPH on 10 exchanges

lowest funding first

Before you open

3 ok · 3 to watch
  • Watch: Thin at this size243.4 / 97.0 bp
    At $10k entering Variational Omni costs 243.4 bp, fee and slippage, 2.5× Hyperliquid’s.
  • Note: Margin at max leverage$200 + $3,333
    Variational Omni 50x, Hyperliquid 3x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • OK: Same payment interval1h / 1h
    Both legs pay at the same time.
    Next 24h at the current rates, on $10k a leg: $0.00Long Variational Omni: 24 payments, −$3.00; short Hyperliquid: 24 payments, +$3.00.
  • Watch: Gap narrower than usual−1.036% vs −0.091%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Watch: Long leg is thinner$23K vs $478K OI
    Variational Omni sets your exit cost. Check its book before closing.
  • OK: Points on a legVariational Omni points · Hyperliquid Season 2
    Volume here counts toward the points program.
  • OK: No KYC on either legVariational Omni No · Hyperliquid No
    Both exchanges let you trade without ID.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned+0.0766%/8h × 21 periods+$160.78
Price spread−1.036% → −0.091% (7d avg)−$94.53
Slippage, 4 orderslive order books−$563.30
Fee Variational Omni bp × 2 orders$0.00
Fee Hyperliquid bp × 2 orders−$9.00
Net · 7 days · $10k−$506.06
Costs to cover5.723%Break-even29.0 days
Slippage: Variational Omni: RFQ quote, 19 min ago; Hyperliquid: live order book, 6 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGVariational Omni12.32243.4 bp−$243468.3 bp−$4,683doesn’t fitdoesn’t fit
SELL · SHORTHyperliquid12.2897.0 bp−$97doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

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