Funding arb · Price arb /

ACE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0660%/8h= +72.3% APRpaid last 24h +0.018%

Price spread now: Gate against Hyperliquid0.000%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$940.944% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.181%+$18 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now 0.000%, 7d avg −0.016%

Together, before fees+0.142%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: +$20 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.181% in total (about 9.4% 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 ACE	0.1718	0.0100	pay 0.0013% / 1h	53m 14s	$372K	$398K	3x
Short	Gate ACE_USDT	0.1718	0.0760	get 0.0380% / 4h	2h 53m	$1.1M	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: $138.6
Price spread: 0.000% → −0.016%: $1.56
Slippage, 4 orders: −$70.43
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $45.74
Costs to cover: 0.944%
Break-even: 4.7 days

Slippage from Hyperliquid: live order book, 57 min ago; Gate: live order book, 4 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 Hyperliquid live order book, 57 min ago	5.78 bp	17.0 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	2.91 bp	31.9 bp −$32	188.4 bp −$1,884	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 ACElong	+0.0100%	1h	0.1718	long leg	$372K	$398K	3x
Aster ACEUSDT	+0.0100%	4h	0.1719	+0.050%	$27K	$33K	5x	as long as short
Binance ACEUSDT	+0.0100%	4h	0.1722	+0.250%	$8.5M	$18.1M	20x	as long as short
Bybit ACEUSDT	+0.0100%	4h	0.1724	+0.320%	$2.5M	$2.6M	25x	as long as short
MEXC ACE_USDT	+0.0100%	4h	0.1721	+0.175%	$13.9M	$782K	20x	as long as short
KuCoin ACEUSDTM	+0.0100%	4h	0.1719	+0.081%	$2.0M	$518K	20x	as long as short
Bitget ACEUSDT	+0.0100%	4h	0.1718	0.000%	$1.6M	$2.2M	10x	as long as short
Variational Omni ACE	+0.0100%	4h	0.1709	−0.507%	$114K	$44K	—	as long as short
HTX ACE-USDT	+0.0100%	4h	0.1701	−0.995%	$15K	$117K	20x	as long as short
BingX ACE-USDT	+0.0108%	4h	0.1720	+0.134%	—	$1.4M	—	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	+0.0144%	4h	0.1721	+0.163%	$460K	$70K	20x	as long as short
Gate ACE_USDTshort	+0.0760%	4h	0.1718	0.000%	$1.1M	$1.8M	25x
Kraken Futures PF_ACEUSD	+0.0903%	1h	0.1719	+0.078%	$48K	$631K	10x	as long as short