Funding arb · Price arb /

ACE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Hyperliquid against Bybit0.000%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1571.567% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.162%+$16 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now 0.000%, 7d avg −0.023%

Together, before fees+0.183%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.023% dearer against Bybit than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ACEUSDT	0.1731	0.0100	pay 0.0050% / 4h	3h 49m	$2.5M	$2.6M	25x
Short	Hyperliquid ACE	0.1731	0.0100	get 0.0013% / 1h	49m 24s	$409K	$383K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. 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 BybitbpFee HyperliquidbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.023%: $2.26
Slippage, 4 orders: −$136.74
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$154.47
Costs to cover: 1.567%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Hyperliquid: live order book, 71 min ago.

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 Bybit live order book, 3 min ago	0.57 bp	51.5 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 71 min ago	2.91 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit

ACE on 13 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
Hyperliquid ACEshort	+0.0100%	1h	0.1731	0.000%	$409K	$383K	3x
Aster ACEUSDT	+0.0100%	4h	0.1730	−0.064%	$27K	$33K	5x	as long as short
Binance ACEUSDT	+0.0100%	4h	0.1730	−0.037%	$8.6M	$18.2M	20x	as long as short
Bybit ACEUSDTlong	+0.0100%	4h	0.1731	long leg	$2.5M	$2.6M	25x
MEXC ACE_USDT	+0.0100%	4h	0.1730	−0.081%	$14.0M	$783K	20x	as long as short
KuCoin ACEUSDTM	+0.0100%	4h	0.1731	+0.023%	$2.0M	$525K	20x	as long as short
Bitget ACEUSDT	+0.0100%	4h	0.1731	0.000%	$1.6M	$2.2M	10x	as long as short
BingX ACE-USDT	+0.0100%	4h	0.1731	+0.023%	—	$1.4M	—	as long as short
Variational Omni ACE	+0.0100%	4h	0.1740	+0.525%	$117K	$44K	—	as long as short
HTX ACE-USDT	+0.0100%	4h	0.1735	+0.208%	$16K	$128K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ACE-USDT	+0.0130%	4h	0.1738	+0.427%	$457K	$70K	20x	as long as short
Gate ACE_USDT	+0.0228%	4h	0.1731	0.000%	$1.1M	$1.8M	25x	as long as short
Kraken Futures PF_ACEUSD	+0.0534%	1h	0.1730	−0.069%	$49K	$633K	10x	as long as short