Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Hyperliquid+0.278%7-day average +0.112% · 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 4 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.270%+$27 · spread now +0.278%, 7d avg +0.112%

Together, before fees+0.266%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board+$27 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 0.166% dearer against Hyperliquid than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.112%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MELANIA	0.1086	0.0100	pay 0.0013% / 1h	51m 50s	$1.7M	$222K	3x
Short	Variational Omni MELANIA	0.1089	0.0100	get 0.0050% / 4h	3h 51m	$113K	$672	—

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 +0.278%Rate

Funding earned: $0
Price spread: +0.278% → +0.112%: $16.58
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: $7.58
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 9 min ago; Variational Omni: RFQ quote, 47 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, 9 min ago	1.84 bp	19.2 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 47 min ago	13.77 bp	doesn't fit	224.9 bp −$2,249	doesn't fit	doesn't fit

MELANIA on 13 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
Hyperliquid MELANIAlong	+0.0100%	1h	0.1086	long leg	$1.7M	$222K	3x
Binance MELANIAUSDT	+0.0100%	4h	0.1087	+0.064%	$2.9M	$3.4M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1087	+0.092%	$1.5M	$855K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1085	−0.092%	$409K	$120K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1087	+0.129%	$1.2M	$138K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1086	+0.009%	$407K	$2.1M	30x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1087	+0.147%	$933K	$249K	50x	as long as short
BingX MELANIA-USDT	+0.0100%	4h	0.1087	+0.138%	—	$1.5M	—	as long as short
Variational Omni MELANIAshort	+0.0100%	4h	0.1089	+0.278%	$113K	$672	—
Aevo MELANIA-PERP	+0.0104%	1h	0.1085	−0.083%	$248K	—	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MELANIA-USDT	+0.0117%	4h	0.1088	+0.221%	$190K	$5K	75x	as long as short
Aster MELANIAUSDT	+0.0619%	4h	0.1086	+0.028%	$21K	$17K	5x	as long as short
Kraken Futures PF_MELANIAUSD	+0.2804%	1h	0.1088	+0.189%	$25K	$3K	10x	as long as short