Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.009%

Price spread now: Hyperliquid against Bitget+0.160%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1161.159% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.107%−$11 on $10k

Price spread, last 4 days (all we have)−0.107%−$11 · spread now +0.160%, 7d avg +0.046%

Together, before fees−0.214%+ Points / potential airdropHyperliquid: Season 2 · farm board−$21 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 0.115% dearer against Bitget than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ALTUSDT	0.007482	0.0100	pay 0.0050% / 4h	1h 24m	$615K	$100K	50x
Short	Hyperliquid ALT	0.007494	0.0100	get 0.0013% / 1h	24m 41s	$1.1M	$185K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.160%Rate

Funding earned: $0
Price spread: +0.160% → +0.046%: $11.46
Slippage, 4 orders: −$94.87
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$104.41
Costs to cover: 1.159%
Break-even: never at this rate

Slippage from Bitget: live order book, 55 min ago; Hyperliquid: live order book, 6 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 Bitget live order book, 55 min ago	8.68 bp	32.1 bp −$32	216.9 bp −$2,169	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	2.67 bp	16.4 bp −$16	doesn't fit	doesn't fit	doesn't fit

ALT 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
Variational Omni ALT	−0.0191%	4h	0.007483	+0.008%	$4K	$12K	—	as long as short
Deribit ALT_USDC-PERPETUAL	0.0000%	1h	0.007496	+0.187%	—	$0	25x	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−1.350%	$815	$4K	5.5x	as long as short
Bybit ALTUSDT	+0.0045%	4h	0.007484	+0.027%	$1.2M	$1.6M	25x	as long as short
Hyperliquid ALTshort	+0.0100%	1h	0.007494	+0.160%	$1.1M	$185K	3x
Binance ALTUSDT	+0.0100%	4h	0.007499	+0.222%	$2.6M	$3.5M	50x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007483	+0.013%	$50K	$415K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007497	+0.200%	$388K	$190K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007493	+0.147%	$149K	$21K	30x	as long as short
Bitget ALTUSDTlong	+0.0100%	4h	0.007482	long leg	$615K	$100K	50x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ALT-USDT	+0.0100%	4h	0.007495	+0.174%	—	$1.3M	—	as long as short
BloFin ALT-USDT	+0.0148%	4h	0.007489	+0.094%	$172K	$9K	50x	as long as short
Kraken Futures PF_ALTUSD	+0.0348%	1h	0.007498	+0.218%	$44K	$8K	10x	as long as short
Coinbase International ALT-PERP-INTX	+0.0448%	1h	0.007518	+0.481%	$14K	$3K	50x	as long as short