Funding arb · Price arb /

AIXBT

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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 0.000%

Price spread now: BingX against Hyperliquid−0.181%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$800.802% of the position

Long on Hyperliquid Short on BingX

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)+0.045%+$5 · spread now −0.181%, 7d avg −0.058%

Together, before fees+0.039%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 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: BingX is 0.123% cheaper against Hyperliquid than usual: you would sell low and buy high, −$12 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	Hyperliquid AIXBT	0.02266	0.0100	pay 0.0013% / 1h	46m 20s	$376K	$180K	3x
Short	BingX AIXBT-USDT	0.02262	0.0100	get 0.0050% / 4h	3h 46m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.181%Rate

Funding earned: $0
Price spread: −0.181% → −0.058%: −$12.27
Slippage, 4 orders: −$61.16
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$92.42
Costs to cover: 0.802%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; BingX: live order book, 11 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, 3 min ago	1.32 bp	12.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	2.20 bp	28.9 bp −$29	86.9 bp −$869	676.1 bp −$67.6K	1106.5 bp −$553.3K

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	−0.1551%	1h	0.02264	−0.082%	$18K	$7K	10x	as long as short
Bybit AIXBTUSDT	−0.0561%	4h	0.02261	−0.221%	$1.2M	$982K	25x	as long as short
Variational Omni AIXBT	−0.0018%	4h	0.02264	−0.086%	$100K	$11K	—	as long as short
Hyperliquid AIXBTlong	+0.0100%	1h	0.02266	long leg	$376K	$180K	3x
Binance AIXBTUSDT	+0.0100%	4h	0.02264	−0.093%	$2.4M	$2.9M	50x	as long as short
OKX AIXBT-USDT-SWAP	+0.0100%	4h	0.02262	−0.181%	$458K	$1.5M	20x	as long as short
Gate AIXBT_USDT	+0.0100%	4h	0.02268	+0.084%	$201K	$97K	25x	as long as short
MEXC AIXBT_USDT	+0.0100%	4h	0.02264	−0.093%	$470K	$187K	100x	as long as short
KuCoin AIXBTUSDTM	+0.0100%	4h	0.02268	+0.084%	$1.2M	$1.4M	30x	as long as short
Bitget AIXBTUSDT	+0.0100%	4h	0.02267	+0.040%	$638K	$464K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AIXBT-USDTshort	+0.0100%	4h	0.02262	−0.181%	—	$6.6M	—
BloFin AIXBT-USDT	+0.0101%	4h	0.02265	−0.049%	$118K	$64K	50x	as long as short
GMX AIXBT/USD [ETH-USDC]	L +0.0270% / S −0.0489%	1h	0.02265	−0.062%	$5K	—	100x	as long as short
Reya AIXBTRUSDPERP	+0.0372%	1h	0.02262	−0.174%	—	—	—	as long as short