data as of
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Spread before costs (cost unknown: a leg has no order-book sample)+0.038%
7d average−0.046%if it closes, per $10,000$4funding while held, a day−$1.55
Long on HyperliquidShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid BTC85,4880.0152pay 0.0019% / 1h59m 55s$3.84B$4.02B40x
ShortVariational Omni BTC85,520.50.0100get 0.0100% / 8h1h 59m$173.2M$463.3M—

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$3.81
Funding while held
−$1.55
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
−$6.74
Spread needed to break even
0.090%
Slippage unknown: Hyperliquid: live order book, 6 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0052%
Per $10,000 a day
−$1.55
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 6 min ago0.06 bp4.6 bp −$55.1 bp −$51doesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 1 min ago0.56 bpdoesn't fit0.6 bp −$63.0 bp −$304doesn't fit

BTC price on every exchange

against the cheapest. Click to use as the short leg.
Aevo85,354.6cheapestExtended85,361+0.007%Arcus85,363.2+0.010%Derive85,366.5+0.014%Orderly85,366.7+0.014%Backpack85,367.2+0.015%SunX85,373.5+0.022%SoDEX85,375+0.024%Lighter85,375.1+0.024%Lighter RH85,380.9+0.031%Katana Perps85,384+0.034%HTX85,388+0.039%Reya85,388.3+0.039%Aster85,389+0.040%Nado85,389.6+0.041%Phemex85,389.9+0.041%Bitget85,392.6+0.045%gTrade (Gains Network)85,393+0.045%OKX85,393.8+0.046%Popdex85,394+0.046%Bullet85,395+0.047%Binance85,395.9+0.048%BingX85,395.9+0.048%MEXC85,396.1+0.049%Bluefin85,396.2+0.049%Bybit85,398.7+0.052%Kraken Futures85,400.1+0.053%Gate85,400.6+0.054%GMX85,400.8+0.054%Perpl85,402.6+0.056%01 Exchange85,408.9+0.064%Polymarket Perps85,409+0.064%KuCoin85,411.4+0.067%Hotstuff85,412+0.067%Coinbase International85,416.8+0.073%BloFin85,416.9+0.073%Ondo Perps85,418+0.074%RISEx85,421.6+0.078%Paradex85,422.5+0.080%Jupiter Perps85,425.2+0.083%dYdX85,431.3+0.090%Kalshi85,437+0.097%Hibachi85,441.2+0.102%Pacifica85,446.1+0.107%Deribit85,450.2+0.112%Aftermath Perps85,451.8+0.114%edgeX85,463.2+0.127%Vest85,465.3+0.130%Phoenix85,476+0.142%ApeX Omni85,481.9+0.149%
Hyperliquid85,488+0.156%
StandX85,506.3+0.178%
Variational Omni85,520.5+0.194%
Injective85,674+0.374%Bulk85,777.6+0.496%

BTC on 55 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Aevo BTC-PERP−0.156%+0.0096%1h$2.4M$1.7M20xas long as short
Extended BTC-USD−0.149%+0.0104%1h$47.3M$198.0M50xas long as short
Arcus BTC-USD−0.146%+0.0100%1h$6.2M$76.8M40xas long as short
Derive BTC-PERP−0.142%+0.0100%1h$27.6M$50.8M15xas long as short
Orderly PERP_BTC_USDC−0.142%+0.0100%8h$2.3M$6.6M100xas long as short
Backpack BTC_USDC_PERP−0.141%+0.0081%1h$40.9M$100.1M75xas long as short
SunX BTC-USDT−0.134%+0.0100%8h$3.3M$5.2M100xas long as short
SoDEX BTC-USD−0.132%+0.0014%1h$61.2M$234.4M40xas long as short
Lighter BTC−0.132%+0.0096%1h$182.5M$862.7M50xas long as short
Lighter RH BTC−0.125%+0.0096%1h$25.1M$130.8M50xas long as short
Show all 55 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Katana Perps BTC-USD−0.122%+0.0100%8h$198K$4.8M50xas long as short
HTX BTC-USDT−0.117%+0.0017%8h$2.29B$778.1M200xas long as short
Reya BTCRUSDPERP−0.117%−0.0037%1h$6.8M$134.4M40xas long as short
Aster BTCUSDT−0.116%+0.0047%8h$482.3M$962.8M200xas long as short
Nado BTC-PERP−0.115%+0.0071%1h$24.5M$219.5M50xas long as short
Phemex BTCUSDT−0.115%−0.0027%8h$160.3M$368.6M150xas long as short
Bitget BTCUSDT−0.112%−0.0012%8h$2.96B$4.23B150xas long as short
gTrade (Gains Network) BTC/USD−0.111%L +0.0004% / S −0.0004%1h$36.5M—200xas long as short
OKX BTC-USDT-SWAP−0.110%+0.0063%8h$2.56B$10.58B100xas long as short
Popdex BTCUSDT−0.110%+0.0080%1h$8.4M$39.8M100xas long as short
Bullet BTC-USD−0.109%+0.0083%1h$252K$3.3M20xas long as short
Binance BTCUSDT−0.108%+0.0099%8h$9.51B$19.15B150xas long as short
BingX BTC-USDT−0.108%−0.0012%8h—$1.28B—as long as short
MEXC BTC_USDT−0.108%+0.0100%8h$4.95B$4.63B500xas long as short
Bluefin BTC-PERP−0.107%+0.0100%1h$142K$399K40xas long as short
Bybit BTCUSDT−0.104%+0.0100%8h$5.05B$7.68B150xas long as short
Kraken Futures PF_XBTUSD−0.103%+0.0123%1h$187.1M$740.6M100xas long as short
Gate BTC_USDT−0.102%−0.0028%8h$6.02B$8.45B200xas long as short
GMX BTC/USD [WBTC.b-USDC]−0.102%L +0.0194% / S −0.0201%1h$12.9M—200xas long as short
Perpl BTC−0.100%−0.0447%43m$438K$31.9M6.7xas long as short
01 Exchange BTCUSD−0.093%−0.0032%1h$279K$2.3M50xas long as short
Polymarket Perps BTC-USD−0.092%+0.0100%1h$10.8M$10.4M50xas long as short
KuCoin XBTUSDTM−0.090%+0.0067%8h$793.7M$579.1M125xas long as short
Hotstuff BTC-PERP−0.089%−0.0080%1h$8K$3K50xas long as short
Coinbase International BTC-PERP-INTX−0.083%+0.0120%1h$142.9M$6.07B50xas long as short
BloFin BTC-USDT−0.083%+0.0220%8h$419.4M$476.6M150xas long as short
Ondo Perps BTC-USD.P−0.082%+0.0100%1h$3.9M$15.6M25xas long as short
RISEx BTC/USDC−0.078%+0.0090%1h$8.4M$36.8M25xas long as short
Paradex BTC-USD-PERP−0.077%+0.0091%8h$4.4M$6.7M50xas long as short
Jupiter Perps WBTC-PERP−0.074%L +0.0104% / S +0.0048%1h—$85.1M500xas long as short
dYdX BTC-USD−0.066%0.0000%1h$16.0M$13.6M50xas long as short
Kalshi KXBTCPERP−0.060%0.0000%8h$8.1M$484.2M6.4xas long as short
Hibachi BTC/USDT-P−0.055%+0.0256%1h$596K$7.4M30xas long as short
Pacifica BTC−0.049%+0.0100%1h$36.6M$303.8M50xas long as short
Deribit BTC-PERPETUAL−0.044%+0.0408%1h$840.1M$902.7M50xas long as short
Aftermath Perps BTCUSD−0.042%−0.0035%1h$85K$143K20xas long as short
edgeX BTCUSDC−0.029%−0.0093%4h$283.6M$775.9M100xas long as short
Vest BTC-PERP−0.027%+0.0100%1h—$13.1M50xas long as short
Phoenix BTC−0.014%+0.0126%1h$1.8M$10.3M40xas long as short
ApeX Omni BTCUSDT−0.007%−0.0044%1h$137.7M$315.4M100xas long as short
Hyperliquid BTClong0.000%+0.0152%1h$3.84B$4.02B40x
StandX BTC-USD+0.021%+0.0100%1h$30.6M$246.8M40xas long as short
Variational Omni BTCshort+0.038%+0.0100%8h$173.2M$463.3M—
Injective BTC/USDC PERP+0.218%−0.0036%1h$307K$27.0M52xas long as short
Bulk BTC-USD+0.339%+0.0100%1h$535.7M$60.2M40xas long as short