Eloi Eloi lama sabachthani?" is Greek transliteration of Aramaic words. If it was Hebrew, then azabthani would have been used instead of Aramaic word "Sabachthani."
Check this link for Hebrew NT of Mark 15:34.
In Hebrew, "Eloi Eloi lama sabachthani?" will become "Eliy ‘Eliy lamah `azab’taniy?"
The spoken language of first century Israel was Aramaic. Not Hebrew or Greek. Check this link for more information.
Why didn't the Jews understand "Eli, Eli, lama sabachthani"?
The word for God in Aramaic was Eil and Elaha (also written as Alaha). In first century Judea, they used both "Eil" and "Elaha" for God. But in Samaria, Galilee, Lebanon, and in Syria during first century, they mostly used Elaha (also written as Alaha).
Since Jesus Christ grew up in Galilee, he would have used Elaha.
If you check Matthew 27:46 of Aramaic Peshitta (Aramaic NT), then you will see "Eil Eil." This was somewhat clumsily transliterated by Greek scribe as "Eli Eli." Sometimes Greek scribes have difficulty transliterating Aramaic words into Greek. For Example, Aramaic words "Khqel Dama" in Acts 1:19 is transliterated as "Akeldama" in Greek.
YHWH is Hebrew. But Jesus spoke Aramaic. Not Hebrew.
In first century Israel, Jews used Aramaic Old Testament known as Peshitta Tanakh.
The information about Peshitta Tanakh is available here - http://www.pshitta.org/
YA (in Aramaic OT and Aramaic NT Peshitta) is the Aramaic form of Hebrew "YH" in "YHWH." Because of this, Hebrew name "Yehochanan" becomes "Yochanan" in Aramaic. Another example is Hebrew name "Yehonathan" becomes "Yonathan" in Aramaic and Hebrew name "Yehoseph" becomes "Yoseph" in Aramaic.
For Respect, "YA" is addressed as "MarYA" (Master YA) in Aramaic OT, in Aramaic NT, & in First century Israel.