Funding arb · Price arb /

STBL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.049%

Price spread now: Variational Omni against Hyperliquid+0.083%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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.083% dearer against Hyperliquid than usual: you sell high and buy low, +$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid STBL	0.02628	0.0100	pay 0.0013% / 1h	57m 46s	$1.9M	$283K	3x
Short	Variational Omni STBL	0.02630	0.0100	get 0.0050% / 4h	1h 57m	$961	$282	—

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 +0.083%Rate

Funding earned: $0
Price spread: +0.083% → 0.000%: $8.3
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: −$0.7
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 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, 3 min ago	1.71 bp	41.3 bp −$41	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.

STBL on 12 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
Lighter STBL	+0.0096%	1h	0.02618	−0.388%	$79K	$2K	3x	as long as short
Hyperliquid STBLlong	+0.0100%	1h	0.02628	long leg	$1.9M	$283K	3x
Binance STBLUSDT	+0.0100%	4h	0.02633	+0.180%	$1.9M	$2.2M	50x	as long as short
Bybit STBLUSDT	+0.0100%	4h	0.02631	+0.107%	$1.5M	$687K	20x	as long as short
MEXC STBL_USDT	+0.0100%	4h	0.02633	+0.183%	$365K	$146K	100x	as long as short
KuCoin STBLUSDTM	+0.0100%	4h	0.02626	−0.084%	$1.1M	$229K	20x	as long as short
Variational Omni STBLshort	+0.0100%	4h	0.02630	+0.083%	$961	$282	—
SunX STBL-USDT	+0.0100%	4h	0.02630	+0.068%	$2K	$1.1M	20x	as long as short
BloFin STBL-USDT	+0.0155%	4h	0.02632	+0.145%	$127K	$22K	50x	as long as short
BingX STBL-USDT	+0.0162%	4h	0.02632	+0.145%	—	$6.6M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate STBL_USDT	+0.0572%	4h	0.02635	+0.259%	$1.2M	$117K	50x	as long as short
Aster STBLUSDT	+0.0820%	4h	0.02629	+0.049%	$88K	$6K	5x	as long as short