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Price arb /

FET

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Spread before costs (cost unknown: a leg has no order-book sample)−0.279%
7d average−0.033%if it closes, per $10,000$28funding while held, a day+$0.00
Long on HyperliquidShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid FET0.19750.0100pay 0.0013% / 1h59m 57s$9.2M$7.2M5x
ShortVariational Omni FET0.19700.0100get 0.0100% / 8h5h 59m$269K$287K—

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
−$27.91
Funding while held
$0
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
−$36.91
Spread needed to break even
0.090%
Slippage unknown: Hyperliquid: live order book, 4 min ago; Variational Omni: RFQ quote, 40 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
0.0000%
Per $10,000 a day
+$0.00
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, 4 min ago1.52 bp9.0 bp −$918.4 bp −$184doesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 40 min ago7.47 bpdoesn't fit22.4 bp −$224doesn't fitdoesn't fit

FET price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.1740cheapest
Variational Omni0.1970+13.200%
BloFin0.1970+13.218%Gate0.1971+13.276%GMX0.1971+13.295%gTrade (Gains Network)0.1972+13.322%MEXC0.1972+13.333%Orderly0.1972+13.333%Deribit0.1972+13.333%BingX0.1973+13.391%Extended0.1974+13.438%KuCoin0.1974+13.448%Kraken Futures0.1974+13.449%Aster0.1974+13.452%Binance0.1975+13.478%Bitget0.1975+13.506%Coinbase International0.1975+13.506%
Hyperliquid0.1975+13.517%
OKX0.1976+13.563%Phoenix0.1977+13.615%

FET on 20 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective FET/USDC PERP−11.908%+0.0033%1h$2K$43K12xas long as short
Variational Omni FETshort−0.279%+0.0100%8h$269K$287K—
BloFin FET-USDT−0.263%+0.0220%8h$1.7M$2.5M100xas long as short
Gate FET_USDT−0.213%−0.0054%8h$2.7M$11.5M50xas long as short
GMX FET/USD [ETH-USDC]−0.196%L +0.0200% / S −0.0278%1h$13K—100xas long as short
gTrade (Gains Network) FET/USD−0.172%L +0.0006% / S −0.0011%1h$34K—150xas long as short
MEXC FET_USDT−0.162%+0.0100%8h$32.9M$23.1M200xas long as short
Orderly PERP_FET_USDC−0.162%+0.0080%8h$36K$6K10xas long as short
Deribit FET_USDC-PERPETUAL−0.162%−0.0763%1h$15K$218K10xas long as short
BingX FET-USDT−0.111%+0.0100%8h—$5.1M—as long as short
Show all 20 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Extended FET-USD−0.070%+0.0104%1h$31K$146K10xas long as short
KuCoin FETUSDTM−0.061%+0.0100%8h$10.2M$17.4M50xas long as short
Kraken Futures PF_FETUSD−0.060%−0.1174%1h$1.0M$2.2M50xas long as short
Aster FETUSDT−0.058%+0.0100%8h$329K$515K10xas long as short
Binance FETUSDT−0.035%+0.0100%8h$30.9M$105.4M75xas long as short
Bitget FETUSDT−0.010%+0.0100%8h$15.9M$11.3M75xas long as short
Coinbase International FET-PERP-INTX−0.010%+0.0048%1h$177K$175K50xas long as short
Hyperliquid FETlong0.000%+0.0100%1h$9.2M$7.2M5x
OKX FET-USDT-SWAP+0.041%+0.0100%4h$817K$7.2M20xas long as short
Phoenix FET+0.086%+0.0390%1h$27K$53K5xas long as short