Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.073%

Price spread now: Variational Omni against Hyperliquid−0.147%7-day average +0.038% · you buy dearer than you sell

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)−0.099%−$10 on $10k

Price spread, last 7 days+0.156%+$16 · spread now −0.147%, 7d avg +0.038%

Together, before fees+0.057%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.185% cheaper against Hyperliquid than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XMR	582.69	0.1088	pay 0.0136% / 1h	45m 23s	$87.6M	$71.9M	5x
Short	Variational Omni XMR	581.83	0.1069	get 0.1069% / 8h	5h 45m	$6.6M	$2.4M	—

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 −0.147%Rate

Funding earned: −$4.02
Price spread: −0.147% → +0.038%: −$18.51
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: −$31.53
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 8 min ago; Variational Omni: RFQ quote, 4 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, 8 min ago	0.09 bp	7.8 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.31 bp	doesn't fit	30.1 bp −$301	doesn't fit	doesn't fit

XMR on 31 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
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0010%	1h	581.39	−0.223%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+2.415%	$3K	$4K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	582.86	+0.028%	$1.0M	$663K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	581.11	−0.271%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	581.00	−0.290%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0208%	1h	582.68	−0.002%	$12K	—	3x	as long as short
Polymarket Perps XMR-USD	+0.0388%	1h	582.33	−0.062%	$31K	$2.1M	5x	as long as short
dYdX XMR-USD	+0.0461%	1h	580.69	−0.344%	$105K	$50K	5x	as long as short
Backpack XMR_USDC_PERP	+0.0472%	1h	581.52	−0.201%	$170K	$539K	20x	as long as short
Lighter XMR	+0.0488%	1h	581.63	−0.182%	$3.3M	$7.1M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XMRUSDT	+0.0513%	8h	582.51	−0.031%	$53.0M	$166.9M	75x	as long as short
MEXC XMR_USDT	+0.0515%	8h	582.66	−0.005%	$20.7M	$15.2M	100x	as long as short
Bitget XMRUSDT	+0.0612%	8h	582.73	+0.007%	$9.5M	$14.1M	50x	as long as short
Gate XMR_USDT	+0.0641%	8h	581.77	−0.158%	$1.6M	$4.5M	50x	as long as short
BingX XMR-USDT	+0.0671%	8h	583.01	+0.055%	—	$5.7M	—	as long as short
Bybit XMRUSDT	+0.0683%	8h	582.63	−0.010%	$47.3M	$64.8M	75x	as long as short
Aster XMRUSDT	+0.0699%	8h	581.65	−0.179%	$648K	$2.4M	75x	as long as short
KuCoin XMRUSDTM	+0.0774%	8h	581.69	−0.172%	$47.8M	$26.1M	50x	as long as short
BloFin XMR-USDT	+0.0793%	8h	582.78	+0.015%	—	$11.4M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0959%	1h	581.50	−0.205%	$5.5M	$19.7M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0982%	8h	581.71	−0.168%	$344K	$786K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0992% / S −0.1296%	1h	581.15	−0.264%	$648K	—	100x	as long as short
Nado XMR-PERP	+0.0994%	1h	582.89	+0.034%	$1.3M	$463K	10x	as long as short
Pacifica XMR	+0.0996%	1h	581.86	−0.143%	$262K	$1.1M	10x	as long as short
Paradex XMR-USD-PERP	+0.1035%	8h	581.85	−0.144%	$8K	$4K	20x	as long as short
Variational Omni XMRshort	+0.1069%	8h	581.83	−0.147%	$6.6M	$2.4M	—
Orderly PERP_XMR_USDC	+0.1084%	8h	582.38	−0.053%	$42K	$736K	10x	as long as short
Hyperliquid XMRlong	+0.1088%	1h	582.69	long leg	$87.6M	$71.9M	5x
SoDEX XMR-USD	+0.1254%	1h	582.77	+0.014%	$443K	$3K	5x	as long as short
Extended XMR-USD	+0.1440%	1h	582.67	−0.003%	$3.1M	$8.0M	25x	as long as short
Aftermath Perps XMRUSD	+0.2616%	1h	582.53	−0.027%	$1K	$46K	10x	as long as short