Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Variational Omni against Hyperliquid+0.295%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 4 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 0.295% dearer against Hyperliquid than usual: you sell high and buy low, +$29 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 TRB	20.016	0.0100	pay 0.0013% / 1h	6m 05s	$511K	$276K	3x
Short	Variational Omni TRB	20.075	0.0100	get 0.0050% / 4h	6m 05s	$16K	$14K	—

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 +0.295%Rate

Funding earned: $0
Price spread: +0.295% → 0.000%: $29.48
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: $20.48
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	1.25 bp	13.5 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.

TRB on 13 exchanges

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
Hyperliquid TRBlong	+0.0100%	1h	20.016	long leg	$511K	$276K	3x
Aster TRBUSDT	+0.0100%	4h	20.012	−0.019%	$2K	$35K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.990	−0.130%	$5.5M	$11.6M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	20.034	+0.090%	$6.5M	$2.3M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	20.000	−0.080%	$4.6M	$4.3M	20x	as long as short
Gate TRB_USDT	+0.0100%	4h	20.020	+0.020%	$556K	$3.1M	50x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.993	−0.115%	$7.1M	$1.3M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	20.049	+0.165%	$1.3M	$310K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	20.018	+0.010%	$1.2M	$1.5M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	20.048	+0.160%	—	$13.2M	—	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRBshort	+0.0100%	4h	20.075	+0.295%	$16K	$14K	—
BloFin TRB-USDT	+0.0103%	4h	20.020	+0.020%	$392K	$161K	50x	as long as short
Kraken Futures PF_TRBUSD	+0.0662%	1h	20.015	−0.006%	$127K	$56K	10x	as long as short