Funding arb · Price arb /

AIXBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against BingX−0.013%7-day average +0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$800.799% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)+0.253%+$25 · spread now −0.013%, 7d avg +0.058%

Together, before fees+0.260%+ Points / potential airdropHyperliquid: Season 2 · farm board+$26 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 0.071% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AIXBT-USDT	0.02251	0.0100	pay 0.0050% / 4h	2h 59m	—	$6.6M	—
Short	Hyperliquid AIXBT	0.02251	0.0100	get 0.0013% / 1h	59m 16s	$375K	$184K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → +0.058%: −$7.11
Slippage, 4 orders: −$60.87
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$86.98
Costs to cover: 0.799%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Hyperliquid: live order book, 25 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 BingX live order book, 8 min ago	2.23 bp	22.6 bp −$23	112.0 bp −$1,120	613.9 bp −$61.4K	930.8 bp −$465.4K
Sell Hyperliquid live order book, 25 min ago	2.44 bp	22.2 bp −$22	doesn't fit	doesn't fit	doesn't fit

AIXBT on 14 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
Kraken Futures PF_AIXBTUSD	−0.1928%	1h	0.02249	−0.084%	$20K	$7K	10x	as long as short
Variational Omni AIXBT	−0.0194%	4h	0.02249	−0.087%	$99K	$11K	—	as long as short
BloFin AIXBT-USDT	+0.0079%	4h	0.02250	−0.044%	$119K	$63K	50x	as long as short
Hyperliquid AIXBTshort	+0.0100%	1h	0.02251	−0.013%	$375K	$184K	3x
Binance AIXBTUSDT	+0.0100%	4h	0.02249	−0.089%	$2.4M	$2.9M	50x	as long as short
Bybit AIXBTUSDT	+0.0100%	4h	0.02246	−0.222%	$1.2M	$974K	25x	as long as short
OKX AIXBT-USDT-SWAP	+0.0100%	4h	0.02246	−0.222%	$453K	$1.5M	20x	as long as short
Gate AIXBT_USDT	+0.0100%	4h	0.02254	+0.133%	$194K	$79K	25x	as long as short
MEXC AIXBT_USDT	+0.0100%	4h	0.02249	−0.089%	$463K	$178K	100x	as long as short
KuCoin AIXBTUSDTM	+0.0100%	4h	0.02250	−0.044%	$1.1M	$1.4M	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AIXBTUSDT	+0.0100%	4h	0.02252	+0.044%	$638K	$461K	20x	as long as short
BingX AIXBT-USDTlong	+0.0100%	4h	0.02251	long leg	—	$6.6M	—
GMX AIXBT/USD [ETH-USDC]	L +0.0269% / S −0.0489%	1h	0.02250	−0.040%	$5K	—	100x	as long as short
Reya AIXBTRUSDPERP	+0.0372%	1h	0.02249	−0.098%	—	—	—	as long as short