Funding arb · Price arb /

DYM

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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−0.164%7-day average — · you buy dearer than you sell

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 0.164% cheaper against Hyperliquid than usual: you would sell low and buy high, −$16 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 DYM	0.01825	0.0100	pay 0.0013% / 1h	45m 07s	$365K	$259K	3x
Short	Variational Omni DYM	0.01822	0.0100	get 0.0050% / 4h	2h 45m	$9K	$5K	—

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 −0.164%Rate

Funding earned: $0
Price spread: −0.164% → 0.000%: −$16.39
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: −$25.39
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 39 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, 39 min ago	2.73 bp	55.8 bp −$56	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.

DYM on 14 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
dYdX DYM-USD	0.0000%	1h	0.01820	−0.247%	$249	$5	5x	as long as short
Injective DYM/USDC PERP	+0.0033%	1h	0.01718	−5.863%	$237	$12K	5.5x	as long as short
Hyperliquid DYMlong	+0.0100%	1h	0.01825	long leg	$365K	$259K	3x
Aster DYMUSDT	+0.0100%	4h	0.01827	+0.110%	$75K	$6K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01825	0.000%	$2.4M	$4.9M	10x	as long as short
Bybit DYMUSDT	+0.0100%	4h	0.01823	−0.110%	$778K	$402K	25x	as long as short
Gate DYM_USDT	+0.0100%	4h	0.01822	−0.164%	$137K	$166K	25x	as long as short
MEXC DYM_USDT	+0.0100%	4h	0.01825	0.000%	$1.2M	$698K	20x	as long as short
Bitget DYMUSDT	+0.0100%	4h	0.01824	−0.055%	$397K	$193K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01824	−0.055%	—	$12.6M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DYMshort	+0.0100%	4h	0.01822	−0.164%	$9K	$5K	—
Extended DYM-USD	+0.0104%	1h	0.01825	−0.010%	$4K	$263K	5x	as long as short
KuCoin DYMUSDTM	+0.1476%	4h	0.01830	+0.274%	$431K	$146K	25x	as long as short
Kraken Futures PF_DYMUSD	+0.2180%	1h	0.01825	−0.003%	$14K	$5K	10x	as long as short