Funding arb · Price arb /

HIMS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0307%/8h= −33.6% APRpaid last 24h −0.026%

Price spread now: Variational Omni against Nado−0.066%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Nado 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 airdropNado: Active · Variational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Variational Omni is 0.066% cheaper against Nado than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado HIMS-PERP	29.271	0.0307	pay 0.0038% / 1h	20m 04s	$2K	$2K	10x
Short	Variational Omni HIMS	29.251	0	get 0.0000% / 8h	1h 20m	$98K	$87K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 NadobpFee Variational OmnibpOrdersPrice spread, now −0.066%Rate

Funding earned: −$64.43
Price spread: −0.066% → 0.000%: −$6.62
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$78.04
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Nado: no order-book sample; 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 Nado no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

Nado and 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.

HIMS on 14 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
QFEX HIMS-USD	−0.0016%	1h	29.260	−0.037%	$1.3M	$652K	10x	as long as short
Aster HIMSUSDT	0.0000%	8h	29.261	−0.033%	$4K	$2K	20x	as long as short
Bybit HIMSUSDT	0.0000%	8h	29.270	−0.002%	$299K	$118K	25x	as long as short
OKX HIMS-USDT-SWAP	0.0000%	8h	29.270	−0.002%	$289K	$187K	20x	as long as short
Gate HIMS_USDT	0.0000%	8h	29.250	−0.071%	$505K	$210K	25x	as long as short
Variational Omni HIMSshort	0.0000%	8h	29.251	−0.066%	$98K	$87K	—
SunX HIMS-USDT	0.0000%	8h	29.246	−0.084%	—	$2.6M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.242	−0.098%	$6K	$38K	10x	as long as short
Binance HIMSUSDT	+0.0038%	8h	29.255	−0.054%	$1.0M	$2.7M	20x	as long as short
Vest HIMS-USD-PERP	+0.0046%	1h	29.280	+0.032%	—	—	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin HIMSUSDTM	+0.0100%	8h	29.260	−0.037%	$136K	$22K	20x	as long as short
tradeXYZ xyz:HIMS	+0.0106%	1h	29.265	−0.019%	$3.3M	$1.7M	10x	as long as short
Injective HIMS/USDC PERP	+0.0220%	1h	29.550	+0.954%	$13K	$22K	5.5x	as long as short
Nado HIMS-PERPlong	+0.0307%	1h	29.271	long leg	$2K	$2K	10x