Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Variational Omni−0.044%7-day average −0.111% · you buy dearer than you sell

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

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.273%−$27 · spread now −0.044%, 7d avg −0.111%

Together, before fees−0.270%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · 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: Hyperliquid is 0.067% dearer against Variational Omni than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MELANIA	0.1095	0.0100	pay 0.0050% / 4h	1h 37m	$114K	$340	—
Short	Hyperliquid MELANIA	0.1094	0.0100	get 0.0013% / 1h	37m 11s	$1.7M	$206K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Variational Omni. 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 Variational OmnibpFee HyperliquidbpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.111%: $6.67
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$2.33
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 27 min ago; Hyperliquid: live order book, 3 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 Variational Omni RFQ quote, 27 min ago	13.60 bp	doesn't fit	276.6 bp −$2,766	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	2.74 bp	23.5 bp −$23	doesn't fit	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
BloFin MELANIA-USDT	+0.0046%	4h	0.1093	−0.181%	$199K	$6K	75x	as long as short
Hyperliquid MELANIAshort	+0.0100%	1h	0.1094	−0.044%	$1.7M	$206K	3x
Binance MELANIAUSDT	+0.0100%	4h	0.1094	−0.072%	$3.0M	$3.2M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1095	+0.001%	$1.5M	$733K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1093	−0.136%	$420K	$66K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1094	−0.072%	$1.2M	$136K	100x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1094	−0.054%	$956K	$216K	50x	as long as short
BingX MELANIA-USDT	+0.0100%	4h	0.1095	+0.001%	—	$1.5M	—	as long as short
Variational Omni MELANIAlong	+0.0100%	4h	0.1095	long leg	$114K	$340	—
Aevo MELANIA-PERP	+0.0104%	1h	0.1094	−0.030%	$250K	—	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MELANIAUSDTM	+0.0260%	4h	0.1094	−0.063%	$447K	$1.4M	30x	as long as short
Aster MELANIAUSDT	+0.0786%	4h	0.1094	−0.029%	$21K	$15K	5x	as long as short
Kraken Futures PF_MELANIAUSD	+0.1875%	1h	0.1094	−0.093%	$25K	$3K	10x	as long as short