Funding arb · Price arb /

COMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Hyperliquid+0.165%7-day average — · 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)—no history yet

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

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.165% dearer against Hyperliquid than usual: you sell high and buy low, +$17 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	Hyperliquid COMP	22.377	0.0100	pay 0.0013% / 1h	12m 39s	$839K	$519K	5x
Short	Variational Omni COMP	22.414	0.0100	get 0.0100% / 8h	2h 12m	$15K	$37K	—

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 +0.165%Rate

Funding earned: $0
Price spread: +0.165% → 0.000%: $16.53
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: $7.53
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 7 min ago; Variational Omni: no order-book sample. 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, 7 min ago	1.78 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

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.

COMP on 16 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
Deribit COMP_USDC-PERPETUAL	−0.1536%	1h	22.360	−0.076%	$326	$327	50x	as long as short
Injective COMP/USDC PERP	−0.1289%	1h	22.200	−0.791%	$3K	$12K	12x	as long as short
Kraken Futures PF_COMPUSD	−0.0847%	1h	22.407	+0.134%	$236K	$84K	20x	as long as short
Coinbase International COMP-PERP-INTX	−0.0024%	1h	22.530	+0.684%	$18K	$53K	25x	as long as short
dYdX COMP-USD	0.0000%	1h	22.410	+0.147%	$68K	—	5x	as long as short
Hyperliquid COMPlong	+0.0100%	1h	22.377	long leg	$839K	$519K	5x
Binance COMPUSDT	+0.0100%	8h	22.350	−0.121%	$4.2M	$7.8M	75x	as long as short
Bybit COMPUSDT	+0.0100%	8h	22.360	−0.076%	$3.8M	$2.1M	75x	as long as short
OKX COMP-USDT-SWAP	+0.0100%	8h	22.350	−0.121%	$1.6M	$2.3M	20x	as long as short
Gate COMP_USDT	+0.0100%	8h	22.340	−0.165%	$219K	$83K	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC COMP_USDT	+0.0100%	8h	22.350	−0.121%	$2.7M	$864K	20x	as long as short
KuCoin COMPUSDTM	+0.0100%	8h	22.370	−0.031%	$452K	$102K	30x	as long as short
Bitget COMPUSDT	+0.0100%	8h	22.390	+0.058%	$1.9M	$753K	75x	as long as short
BingX COMP-USDT	+0.0100%	8h	22.380	+0.013%	—	$36.4M	—	as long as short
Variational Omni COMPshort	+0.0100%	8h	22.414	+0.165%	$15K	$37K	—
BloFin COMP-USDT	+0.0122%	8h	22.340	−0.165%	$238K	$149K	20x	as long as short