Funding arb · Price arb /

AZTEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h −0.087%

Price spread now: Variational Omni against Hyperliquid−0.541%7-day average — · 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)—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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.541% cheaper against Hyperliquid than usual: you would sell low and buy high (−$54 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	Hyperliquid AZTEC	0.01632	0.0139	pay 0.0017% / 1h	4m 07s	$1.1M	$1.2M	3x
Short	Variational Omni AZTEC	0.01623	0.0100	get 0.0050% / 4h	4m 07s	$65K	$80K	—

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

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 HyperliquidbpFee Variational OmnibpOrdersPrice spread, now −0.541%Rate

Funding earned: −$8.16
Price spread: −0.541% → 0.000%: −$54.05
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: −$71.21
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 6 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, 6 min ago	1.85 bp	20.0 bp −$20	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.

AZTEC 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
BingX AZTEC-USDT	+0.0070%	4h	0.01630	−0.098%	—	$1.7M	—	as long as short
Lighter AZTEC	+0.0096%	1h	0.01627	−0.294%	$72K	$101K	3x	as long as short
Bybit AZTECUSDT	+0.0100%	4h	0.01637	+0.331%	$1.5M	$1.3M	25x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01625	−0.405%	$296K	$429K	25x	as long as short
Bitget AZTECUSDT	+0.0100%	4h	0.01635	+0.208%	$353K	$279K	20x	as long as short
Variational Omni AZTECshort	+0.0100%	4h	0.01623	−0.541%	$65K	$80K	—
Hyperliquid AZTEClong	+0.0139%	1h	0.01632	long leg	$1.1M	$1.2M	3x
OKX AZTEC-USDT-SWAP	+0.0156%	4h	0.01636	+0.270%	$362K	$882K	20x	as long as short
MEXC AZTEC_USDT	+0.0348%	4h	0.01629	−0.159%	$236K	$115K	20x	as long as short
Extended AZTEC-USD	+0.0360%	1h	0.01629	−0.148%	$57K	$383K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AZTECUSDT	+0.0361%	4h	0.01625	−0.407%	$7K	$21K	5x	as long as short
Binance AZTECUSDT	+0.0363%	4h	0.01636	+0.297%	$2.0M	$4.1M	25x	as long as short
BloFin AZTEC-USDT	+0.0388%	4h	0.01622	−0.588%	$96K	$30K	25x	as long as short
KuCoin AZTECUSDTM	+0.0628%	4h	0.01623	−0.527%	$285K	$286K	20x	as long as short