Funding arb · Price arb /

COMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Hyperliquid+0.192%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 0.192% dearer against Hyperliquid than usual: you sell high and buy low, +$19 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 COMP	22.277	0.0100	pay 0.0013% / 1h	57m 37s	$838K	$542K	5x
Short	Variational Omni COMP	22.320	0.0100	get 0.0100% / 8h	2h 57m	$15K	$39K	—

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 +0.192%Rate

Funding earned: $0
Price spread: +0.192% → 0.000%: $19.23
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: $10.23
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 27 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, 27 min ago	2.23 bp	20.6 bp −$21	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.

COMP on 16 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
Injective COMP/USDC PERP	−0.1289%	1h	22.330	+0.236%	$4K	$12K	12x	as long as short
Kraken Futures PF_COMPUSD	−0.0850%	1h	22.329	+0.230%	$235K	$86K	20x	as long as short
Deribit COMP_USDC-PERPETUAL	−0.0198%	1h	22.290	+0.056%	$227	$229	50x	as long as short
Coinbase International COMP-PERP-INTX	−0.0024%	1h	22.420	+0.640%	$18K	$52K	25x	as long as short
dYdX COMP-USD	0.0000%	1h	22.270	−0.034%	$67K	—	5x	as long as short
BloFin COMP-USDT	+0.0090%	8h	22.300	+0.101%	$240K	$159K	20x	as long as short
Hyperliquid COMPlong	+0.0100%	1h	22.277	long leg	$838K	$542K	5x
Binance COMPUSDT	+0.0100%	8h	22.250	−0.123%	$4.2M	$8.3M	75x	as long as short
Bybit COMPUSDT	+0.0100%	8h	22.270	−0.034%	$3.8M	$2.2M	75x	as long as short
OKX COMP-USDT-SWAP	+0.0100%	8h	22.260	−0.079%	$1.6M	$2.3M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate COMP_USDT	+0.0100%	8h	22.230	−0.213%	$219K	$82K	25x	as long as short
MEXC COMP_USDT	+0.0100%	8h	22.250	−0.123%	$2.9M	$799K	20x	as long as short
KuCoin COMPUSDTM	+0.0100%	8h	22.260	−0.079%	$451K	$112K	30x	as long as short
Bitget COMPUSDT	+0.0100%	8h	22.270	−0.034%	$1.9M	$770K	75x	as long as short
BingX COMP-USDT	+0.0100%	8h	22.250	−0.123%	—	$36.3M	—	as long as short
Variational Omni COMPshort	+0.0100%	8h	22.320	+0.192%	$15K	$39K	—