Funding arb · Price arb /

HPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against OKX−0.002%7-day average −0.037% · you buy dearer than you sell

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.020%+$2 on $10k

Price spread, last 4 days (all we have)−0.195%−$19 · spread now −0.002%, 7d avg −0.037%

Together, before fees−0.175%+ Points / potential airdropVariational Omni: Active · farm board−$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.035% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HPE-USDT-SWAP	61.480	0	get 0.0000% / 8h	6h 58m	$206K	$300K	20x
Short	Variational Omni HPE	61.479	0	get 0.0000% / 8h	6h 58m	$31K	$270K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. 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 OKXbpFee Variational OmnibpOrdersPrice spread, now −0.002%Rate

Funding earned: $0
Price spread: −0.002% → −0.037%: $3.47
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$6.53
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 32 min ago; Variational Omni: RFQ quote, 36 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 OKX live order book, 32 min ago	4.10 bp	27.1 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 36 min ago	5.77 bp	doesn't fit	114.6 bp −$1,146	doesn't fit	doesn't fit

HPE on 10 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
Aster HPEUSDT	0.0000%	8h	61.472	−0.012%	$829	$146	20x	as long as short
Binance HPEUSDT	0.0000%	8h	61.510	+0.049%	$459K	$4.3M	20x	as long as short
Bybit HPEUSDT	0.0000%	8h	61.410	−0.114%	$318K	$176K	25x	as long as short
OKX HPE-USDT-SWAPlong	0.0000%	8h	61.480	long leg	$206K	$300K	20x
Gate HPE_USDT	0.0000%	8h	61.420	−0.098%	$159K	$33K	20x	as long as short
Bitget HPEUSDT	0.0000%	8h	61.410	−0.114%	$950K	$344K	20x	as long as short
Variational Omni HPEshort	0.0000%	8h	61.479	−0.002%	$31K	$270K	—
SunX HPE-USDT	0.0000%	8h	61.480	0.000%	$995	$244K	10x	as long as short
HTX HPE-USDT	0.0000%	8h	61.440	−0.065%	$8K	$1K	10x	as long as short
KuCoin HPEUSDTM	+0.0295%	8h	61.480	0.000%	$225K	$425K	20x	as long as short