Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1089%/8h= −119.3% APRpaid last 24h −0.185%

Price spread now: Binance against Hyperliquid−0.124%7-day average −0.231% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.637%−$64 on $10k

Price spread, last 7 days−0.062%−$6 · spread now −0.124%, 7d avg −0.231%

Together, before fees−0.699%+ Points / potential airdropHyperliquid: Season 2 · farm board−$70 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.107% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.124% now, against its 7-day average of −0.231%): +$11 on $10k if it goes back. Holding the pair costs −$33 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.637% in total) that is about 28 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.637% in total (about -33.2% 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 0G	0.2312	0.1189	pay 0.0149% / 1h	45m 59s	$2.5M	$505K	3x
Short	Binance 0GUSDT	0.2309	0.0100	get 0.0050% / 4h	1h 45m	$6.8M	$9.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.124%Rate

Funding earned: −$228.75
Price spread: −0.124% → −0.231%: $10.71
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$237.05
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 5 min ago; Binance: live order book, 9 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	1.52 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	2.17 bp	19.4 bp −$19	52.8 bp −$528	761.3 bp −$76.1K	doesn't fit

0G on 16 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
BingX 0G-USDT	−0.1300%	4h	0.2309	−0.138%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2307	−0.246%	$2K	—	100x	as long as short
BloFin 0G-USDT	+0.0049%	4h	0.2303	−0.398%	—	$9K	50x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2306	−0.250%	$18K	$42K	5x	as long as short
Binance 0GUSDTshort	+0.0100%	4h	0.2309	−0.124%	$6.8M	$9.0M	50x
Bybit 0GUSDT	+0.0100%	4h	0.2308	−0.182%	$2.3M	$2.4M	50x	as long as short
OKX 0G-USDT-SWAP	+0.0100%	4h	0.2311	−0.052%	$890K	$2.4M	20x	as long as short
Gate 0G_USDT	+0.0100%	8h	0.2302	−0.441%	$596K	$145K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2308	−0.182%	$2.0M	$192K	50x	as long as short
KuCoin 0GUSDTM	+0.0100%	4h	0.2307	−0.225%	$2.4M	$2.4M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget 0GUSDT	+0.0100%	4h	0.2306	−0.268%	$1.9M	$729K	50x	as long as short
Backpack 0G_USDC_PERP	+0.0100%	1h	0.2308	−0.182%	$31K	$50K	5x	as long as short
Variational Omni 0G	+0.0100%	4h	0.2308	−0.199%	$12K	$3K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2303	−0.420%	$18K	$624K	50x	as long as short
Hyperliquid 0Glong	+0.1189%	1h	0.2312	long leg	$2.5M	$505K	3x
Lighter 0G	+0.1352%	1h	0.2312	−0.009%	$48K	$104K	3x	as long as short