Funding you earn now, next payment 22:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h +0.027%
Price spread now: Hyperliquid against Variational Omni−0.145%7-day average +0.080% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.062%+$6 on $10k
+Price spread, last 7 days+0.181%+$18 · spread now −0.145%, 7d avg +0.080%
=Together, before fees+0.244%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board+$24 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.225% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.145% now, against its 7-day average of +0.080%). If the spread goes back, that is −$22 on $10k: about 35 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.062% in total) that is about 12 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni ETHFI | 0.7192 | 0.0079 | pay 0.0039% / 4h | 2h 37m | $1.0M | $714K | — |
| Short | Hyperliquid ETHFI | 0.7182 | 0.0100 | get 0.0013% / 1h | 37m 20s | $19.3M | $7.6M | 5x |
Variational Omni ETHFI
Hyperliquid ETHFIFunding 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
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $4.44
- Price spread: −0.145% → +0.080%
- −$22.48
- 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
- −$27.05
- Costs to cover
- 0.090%
- Break-even
- 49.7 days
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Hyperliquid: live order book, 6 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, 2 min ago | 4.19 bp | doesn't fit | 54.4 bp −$544 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 6 min ago | 1.04 bp | 11.3 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
ETHFI on 24 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 ETHFI_USDC-PERPETUAL | −0.0585% | 1h | 0.7178 | −0.195% | $42K | $18K | 10x | as long as short |
| Kraken Futures PF_ETHFIUSD | −0.0213% | 1h | 0.7181 | −0.150% | $280K | $131K | 20x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0151% | 4h | 0.7174 | −0.251% | $16K | $1K | 10x | as long as short |
| HTX ETHFI-USDT | −0.0027% | 4h | 0.7171 | −0.292% | $83K | $164K | 20x | as long as short |
| Bitget ETHFIUSDT | +0.0020% | 4h | 0.7168 | −0.334% | $6.1M | $5.5M | 75x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +0.667% | $321 | $51K | 5.5x | as long as short |
| Paradex ETHFI-USD-PERP | +0.0044% | 8h | 0.7175 | −0.242% | $6K | — | 5x | as long as short |
| Variational Omni ETHFIlong | +0.0079% | 4h | 0.7192 | long leg | $1.0M | $714K | — | |
| Lighter ETHFI | +0.0096% | 1h | 0.7180 | −0.167% | $1.1M | $889K | 5x | as long as short |
| Hyperliquid ETHFIshort | +0.0100% | 1h | 0.7182 | −0.145% | $19.3M | $7.6M | 5x |
Deribit ETHFI_USDC-PERPETUAL
Kraken Futures PF_ETHFIUSD
Orderly PERP_ETHFI_USDC
HTX ETHFI-USDT
Bitget ETHFIUSDT
Injective ETHFI/USDC PERP
Paradex ETHFI-USD-PERP
Lighter ETHFIShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster ETHFIUSDT | +0.0100% | 4h | 0.7183 | −0.120% | $183K | $248K | 10x | as long as short |
| Binance ETHFIUSDT | +0.0100% | 4h | 0.7178 | −0.190% | $25.3M | $35.7M | 75x | as long as short |
| Bybit ETHFIUSDT | +0.0100% | 4h | 0.7181 | −0.153% | $18.4M | $12.4M | 25x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7178 | −0.195% | $4.9M | $12.0M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7179 | −0.181% | $1.7M | $2.0M | 75x | as long as short |
| MEXC ETHFI_USDT | +0.0100% | 4h | 0.7179 | −0.181% | $15.5M | $3.7M | 125x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7177 | −0.209% | $1.2M | $268K | 50x | as long as short |
| BingX ETHFI-USDT | +0.0100% | 4h | 0.7179 | −0.181% | — | $25.8M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7194 | +0.025% | $57K | $81K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7183 | −0.126% | $1K | $1.1M | 20x | as long as short |
| Extended ETHFI-USD | +0.0104% | 1h | 0.7176 | −0.223% | $100K | $488K | 10x | as long as short |
| Aevo ETHFI-PERP | +0.0104% | 1h | 0.7175 | −0.237% | $9K | — | 3x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0152% | 1h | 0.7207 | +0.208% | $32K | $8K | 50x | as long as short |
| BloFin ETHFI-USDT | +0.0340% | 4h | 0.7159 | −0.459% | $1.3M | $293K | 75x | as long as short |
Aster ETHFIUSDT
Binance ETHFIUSDT
Bybit ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
MEXC ETHFI_USDT
KuCoin ETHFIUSDTM
BingX ETHFI-USDT
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
Extended ETHFI-USD
Aevo ETHFI-PERP
Coinbase International ETHFI-PERP-INTX
BloFin ETHFI-USDT