Funding arb · Price arb /

GRASS

all GRASS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h −0.175%

Price spread now: Variational Omni against Hyperliquid+0.177%7-day average −0.282% · 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)−0.361%−$36 on $10k

Price spread, last 7 days−0.496%−$50 · spread now +0.177%, 7d avg −0.282%

Together, before fees−0.857%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board−$86 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.459% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.177% now, against its 7-day average of −0.282%): +$46 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 6.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid GRASS	0.4153	0.0344	pay 0.0043% / 1h	2m 19s	$15.5M	$3.6M	3x
Short	Variational Omni GRASS	0.4160	0.0100	get 0.0050% / 4h	2m 19s	$2.0M	$1.2M	—

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 +0.177%Rate

Funding earned: −$51.26
Price spread: +0.177% → −0.282%: $45.91
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: −$14.35
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 11 min ago; Variational Omni: RFQ quote, 2 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, 11 min ago	2.53 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	4.81 bp	doesn't fit	33.7 bp −$337	doesn't fit	doesn't fit

GRASS on 17 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
Reya GRASSRUSDPERP	−0.0113%	1h	0.4149	−0.094%	$623	—	15x	as long as short
Injective GRASS/USDC PERP	+0.0033%	1h	0.4267	+2.743%	$7	$23K	5.5x	as long as short
BloFin GRASS-USDT	+0.0055%	4h	0.4151	−0.051%	$520K	$295K	20x	as long as short
Binance GRASSUSDT	+0.0100%	4h	0.4148	−0.114%	$9.8M	$25.1M	75x	as long as short
Bybit GRASSUSDT	+0.0100%	4h	0.4147	−0.159%	$23.4M	$14.7M	25x	as long as short
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4147	−0.147%	$3.0M	$12.7M	20x	as long as short
Gate GRASS_USDT	+0.0100%	4h	0.4144	−0.219%	$1.1M	$1.5M	50x	as long as short
MEXC GRASS_USDT	+0.0100%	4h	0.4149	−0.099%	$1.1M	$2.2M	100x	as long as short
Bitget GRASSUSDT	+0.0100%	4h	0.4144	−0.224%	$4.8M	$2.8M	75x	as long as short
BingX GRASS-USDT	+0.0100%	4h	0.4146	−0.171%	—	$7.3M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni GRASSshort	+0.0100%	4h	0.4160	+0.177%	$2.0M	$1.2M	—
Extended GRASS-USD	+0.0104%	1h	0.4144	−0.213%	$205K	$823K	10x	as long as short
KuCoin GRASSUSDTM	+0.0122%	4h	0.4149	−0.099%	$1.3M	$1.4M	50x	as long as short
Hyperliquid GRASSlong	+0.0344%	1h	0.4153	long leg	$15.5M	$3.6M	3x
Aster GRASSUSDT	+0.0626%	4h	0.4151	−0.054%	$64K	$208K	10x	as long as short
Kraken Futures PF_GRASSUSD	+0.1405%	1h	0.4154	+0.022%	$147K	$124K	20x	as long as short
Lighter GRASS	+0.2576%	1h	0.4166	+0.320%	$813K	$774K	5x	as long as short