Funding you earn now, next payment 01:00 UTC−0.0453%/8h= −49.6% APRpaid last 24h −0.064%
Price spread now: Variational Omni against Hyperliquid+0.132%7-day average −0.069% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.087%−$9 on $10k
+Price spread, last 7 days−0.176%−$18 · spread now +0.132%, 7d avg −0.069%
=Together, before fees−0.263%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board−$26 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.201% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.132% now, against its 7-day average of −0.069%): +$20 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 36 hours. At the pace of the last 3 days (−0.087% in total) that is about 7.8 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.087% in total (about -9.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid LINK | 13.140 | 0.0553 | pay 0.0069% / 1h | 18m 23s | $81.2M | $25.0M | 10x |
| Short | Variational Omni LINK | 13.157 | 0.0100 | get 0.0100% / 8h | 7h 18m | $3.4M | $1.5M | — |
Hyperliquid LINK
Variational Omni LINKFunding 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
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
- −$95.12
- Price spread: +0.132% → −0.069%
- $20.13
- 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
- −$83.99
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Hyperliquid: live order book, 5 min ago; Variational Omni: RFQ quote, 1 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 Hyperliquid live order book, 5 min ago | 1.14 bp | 5.8 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 1 min ago | 3.12 bp | doesn't fit | 9.1 bp −$91 | doesn't fit | doesn't fit |
LINK on 40 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 | |
|---|---|---|---|---|---|---|---|---|
| GMX LINK/USD [LINK-USDC] | L −0.0091% / S +0.0167% | 1h | 13.131 | −0.067% | $1.8M | — | 200x | as long as short |
| Kalshi KXLINKPERP | 0.0000% | 8h | 13.154 | +0.109% | $475K | $2.2M | 3.7x | as long as short |
| gTrade (Gains Network) LINK/USD | L +0.0004% / S −0.0007% | 1h | 13.134 | −0.049% | $133K | — | 150x | as long as short |
| Injective LINK/USDC PERP | +0.0033% | 1h | 12.400 | −5.632% | $4K | $48K | 12x | as long as short |
| Phoenix LINK | +0.0036% | 1h | 13.168 | +0.209% | $4K | $89K | 10x | as long as short |
| Orderly PERP_LINK_USDC | +0.0066% | 8h | 13.139 | −0.008% | $133K | $1.5M | 20x | as long as short |
| Deribit LINK_USDC-PERPETUAL | +0.0070% | 1h | 13.145 | +0.041% | $780K | $211K | 50x | as long as short |
| Lighter LINK | +0.0096% | 1h | 13.114 | −0.197% | $2.0M | $2.7M | 10x | as long as short |
| Paradex LINK-USD-PERP | +0.0099% | 8h | 13.191 | +0.386% | $32K | $2K | 20x | as long as short |
| Nado LINK-PERP | +0.0100% | 1h | 13.112 | −0.213% | $402K | $307K | 10x | as long as short |
GMX LINK/USD [LINK-USDC]
Kalshi KXLINKPERP
gTrade (Gains Network) LINK/USD
Injective LINK/USDC PERP
Phoenix LINK
Orderly PERP_LINK_USDC
Deribit LINK_USDC-PERPETUAL
Lighter LINK
Paradex LINK-USD-PERP
Nado LINK-PERPShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster LINKUSDT | +0.0100% | 8h | 13.117 | −0.173% | $1.4M | $3.0M | 50x | as long as short |
| Pacifica LINK | +0.0100% | 1h | 13.114 | −0.201% | $275K | $154K | 10x | as long as short |
| Binance LINKUSDT | +0.0100% | 8h | 13.138 | −0.012% | $122.0M | $300.1M | 75x | as long as short |
| Bybit LINKUSDT | +0.0100% | 8h | 13.140 | 0.000% | $84.7M | $71.0M | 75x | as long as short |
| OKX LINK-USDT-SWAP | +0.0100% | 8h | 13.139 | −0.008% | $27.5M | $84.1M | 50x | as long as short |
| Arcus LINK-USD | +0.0100% | 1h | 13.132 | −0.061% | $184K | $172K | 10x | as long as short |
| Gate LINK_USDT | +0.0100% | 8h | 13.124 | −0.122% | $130.0M | $12.4M | 75x | as long as short |
| MEXC LINK_USDT | +0.0100% | 8h | 13.122 | −0.137% | $36.7M | $58.9M | 300x | as long as short |
| KuCoin LINKUSDTM | +0.0100% | 8h | 13.120 | −0.152% | $22.9M | $14.5M | 75x | as long as short |
| Bitget LINKUSDT | +0.0100% | 8h | 13.138 | −0.015% | $54.5M | $30.2M | 75x | as long as short |
| BingX LINK-USDC | +0.0100% | 8h | 13.132 | −0.061% | — | $6.6M | — | as long as short |
| Variational Omni LINKshort | +0.0100% | 8h | 13.157 | +0.132% | $3.4M | $1.5M | — | |
| edgeX LINKUSDC | +0.0100% | 4h | 13.155 | +0.112% | $44K | $310K | 20x | as long as short |
| GRVT LINK_USDT_Perp | +0.0100% | 8h | 13.158 | +0.140% | $599K | $2.7M | 10x | as long as short |
| ApeX Omni LINKUSDT | +0.0100% | 1h | 13.158 | +0.137% | $153K | $669K | 50x | as long as short |
| Polymarket Perps LINK-USD | +0.0100% | 1h | 13.123 | −0.129% | $81K | $69K | 10x | as long as short |
| Derive LINK-PERP | +0.0100% | 1h | 13.139 | −0.011% | $16K | $22K | 10x | as long as short |
| SunX LINK-USDT | +0.0100% | 8h | 13.123 | −0.127% | $34K | $1.5M | 30x | as long as short |
| SoDEX LINK-USD | +0.0100% | 1h | 13.141 | +0.008% | $14K | $32K | 10x | as long as short |
| HTX LINK-USDT | +0.0100% | 8h | 13.100 | −0.304% | $644K | $850K | 75x | as long as short |
| Extended LINK-USD | +0.0104% | 1h | 13.136 | −0.032% | $667K | $1.9M | 25x | as long as short |
| Aevo LINK-PERP | +0.0104% | 1h | 13.143 | +0.023% | $551K | $2K | 3x | as long as short |
| Coinbase International LINK-PERP-INTX | +0.0120% | 1h | 13.114 | −0.198% | $999K | $2.7M | 50x | as long as short |
| Backpack LINK_USDC_PERP | +0.0180% | 1h | 13.131 | −0.068% | $363K | $367K | 15x | as long as short |
| BloFin LINK-USDT | +0.0220% | 8h | 13.134 | −0.046% | $5.2M | $15.4M | 75x | as long as short |
| Kraken Futures PF_LINKUSD | +0.0365% | 1h | 13.159 | +0.143% | $6.9M | $8.0M | 50x | as long as short |
| Reya LINKRUSDPERP | +0.0382% | 1h | 13.117 | −0.178% | $5K | — | 20x | as long as short |
| dYdX LINK-USD | +0.0422% | 1h | 13.111 | −0.219% | $347K | $48K | 10x | as long as short |
| Hyperliquid LINKlong | +0.0553% | 1h | 13.140 | long leg | $81.2M | $25.0M | 10x | |
| Phemex LINKUSDT | +0.0695% | 8h | 13.141 | +0.008% | $20.3M | $11.6M | 50x | as long as short |
Aster LINKUSDT
Pacifica LINK
Binance LINKUSDT
Bybit LINKUSDT
OKX LINK-USDT-SWAP
Arcus LINK-USD
Gate LINK_USDT
MEXC LINK_USDT
KuCoin LINKUSDTM
Bitget LINKUSDT
BingX LINK-USDC
edgeX LINKUSDC
GRVT LINK_USDT_Perp
ApeX Omni LINKUSDT
Polymarket Perps LINK-USD
Derive LINK-PERP
SunX LINK-USDT
SoDEX LINK-USD
HTX LINK-USDT
Extended LINK-USD
Aevo LINK-PERP
Coinbase International LINK-PERP-INTX
Backpack LINK_USDC_PERP
BloFin LINK-USDT
Kraken Futures PF_LINKUSD
Reya LINKRUSDPERP
dYdX LINK-USD
Phemex LINKUSDT