Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Hyperliquid against Variational Omni−0.147%7-day average — · 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 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.147% cheaper against Variational Omni than usual: you would sell low and buy high, −$15 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	Variational Omni TRB	19.173	0.0100	pay 0.0050% / 4h	1h 35m	$15K	$4K	—
Short	Hyperliquid TRB	19.145	0.0100	get 0.0013% / 1h	35m 34s	$476K	$274K	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 −0.147%Rate

Funding earned: $0
Price spread: −0.147% → 0.000%: −$14.68
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: −$23.68
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Hyperliquid: live order book, 34 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 no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 34 min ago	1.31 bp	18.4 bp −$18	doesn't fit	doesn't fit	doesn't fit

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.

TRB 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 TRBshort	+0.0100%	1h	19.145	−0.147%	$476K	$274K	3x
Aster TRBUSDT	+0.0100%	4h	19.150	−0.120%	$7K	$25K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.137	−0.191%	$5.0M	$11.8M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.170	−0.016%	$6.3M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.140	−0.173%	$4.4M	$5.3M	20x	as long as short
Gate TRB_USDT	+0.0100%	4h	19.160	−0.069%	$569K	$2.2M	50x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.139	−0.178%	$15.4M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.161	−0.063%	$1.2M	$333K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.160	−0.069%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.156	−0.089%	—	$5.0M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRBlong	+0.0100%	4h	19.173	long leg	$15K	$4K	—
BloFin TRB-USDT	+0.0139%	4h	19.166	−0.037%	$356K	$167K	50x	as long as short
Kraken Futures PF_TRBUSD	+0.1564%	1h	19.166	−0.037%	$103K	$51K	10x	as long as short