Settings8H · net · $10k
Funding arb · Price arb /

ALT

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Hyperliquid against BingX+0.119%7-day average −0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$106as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$940.944% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.121%−$12 on $10k
Price spread, last 7 days−0.098%−$10 · spread now +0.119%, 7d avg −0.014%
Together, before fees−0.219%+ Points / potential airdropHyperliquid: Season 2 · farm board−$22 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 0.133% dearer against BingX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.014%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX ALT-USDT0.0075890.0100pay 0.0050% / 4h57m 33s$1.3M
ShortHyperliquid ALT0.0075980.0100get 0.0013% / 1h57m 33s$1.1M$193K3x

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

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

Funding earned
$0
Price spread: +0.119% → −0.014%
$13.27
Slippage, 4 orders
−$75.39
Fee BingX: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$81.12
Costs to cover
0.944%
Break-even
never at this rate
Slippage from BingX: live order book, 2 min ago; Hyperliquid: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 2 min ago4.60 bp22.9 bp −$2383.3 bp −$833627.1 bp −$62.7K810.8 bp −$405.4K
Sell Hyperliquid live order book, 3 min ago3.94 bp14.8 bp −$15doesn't fitdoesn't fitdoesn't fit

ALT on 14 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit ALT_USDC-PERPETUAL0.0000%1h0.007610+0.277%$025xas long as short
BloFin ALT-USDT+0.0063%4h0.007610+0.277%$125K$10K50xas long as short
Hyperliquid ALTshort+0.0100%1h0.007598+0.119%$1.1M$193K3x
Binance ALTUSDT+0.0100%4h0.007592+0.040%$2.6M$3.7M50xas long as short
Bybit ALTUSDT+0.0100%4h0.007579−0.132%$1.2M$1.7M25xas long as short
Gate ALT_USDT+0.0100%8h0.007587−0.026%$48K$389K25xas long as short
MEXC ALT_USDT+0.0100%4h0.007597+0.105%$404K$183K50xas long as short
KuCoin ALTUSDTM+0.0100%4h0.007615+0.343%$151K$21K30xas long as short
Bitget ALTUSDT+0.0100%4h0.007580−0.119%$598K$107K50xas long as short
BingX ALT-USDTlong+0.0100%4h0.007589long leg$1.3M
Show all 14 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni ALT+0.0100%4h0.007607+0.243%$4K$16Kas long as short
Kraken Futures PF_ALTUSD+0.0314%1h0.007612+0.309%$44K$8K10xas long as short
Coinbase International ALT-PERP-INTX+0.0456%1h0.007700+1.463%$14K$3K50xas long as short
Injective ALT/USDC PERP+0.5000%1h0.007691+1.344%$837$4K5.5xas long as short