Funding arb · Price arb /

ALT

all ALT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.008%

Price spread now: Hyperliquid against BloFin−0.040%87s7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$860.856% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 3 days (all we have)−0.204%−$20 · spread now −0.040%, 7d avg −0.071%

Together, before fees−0.305%+ Points / potential airdropHyperliquid: Season 2 · farm board−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.031% dearer against BloFin than usual: you sell high and buy low (spread −0.040% now, against its 7-day average of −0.071%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.1 days. The two prices were read 87 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ALT-USDT	0.007516	0.0148	pay 0.0074% / 4h	35m 34s	$171K	$10K	50x
Short	Hyperliquid ALT	0.007513	0.0100	get 0.0013% / 1h	35m 34s	$1.1M	$184K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$10.14
Price spread: −0.040% → −0.071%: $3.07
Slippage, 4 orders: −$64.63
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$92.71
Costs to cover: 0.856%
Break-even: never at this rate

Slippage from BloFin: live order book, 34 min ago; Hyperliquid: live order book, 5 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 BloFin live order book, 34 min ago	3.33 bp	14.4 bp −$14	52.1 bp −$521	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	2.66 bp	16.0 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
Deribit ALT_USDC-PERPETUAL	−0.0547%	1h	0.007518	+0.027%	—	$0	25x	as long as short
Kraken Futures PF_ALTUSD	−0.0089%	1h	0.007522	+0.080%	$44K	$8K	10x	as long as short
Variational Omni ALT	−0.0023%	4h	0.007507	−0.125%	$5K	$13K	—	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−1.796%	$815	$4K	5.5x	as long as short
Hyperliquid ALTshort	+0.0100%	1h	0.007513	−0.040%	$1.1M	$184K	3x
Binance ALTUSDT	+0.0100%	4h	0.007513	−0.040%	$2.6M	$3.6M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007514	−0.027%	$1.2M	$1.6M	25x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007514	−0.027%	$51K	$411K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007512	−0.053%	$400K	$185K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007525	+0.120%	$149K	$21K	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ALTUSDT	+0.0100%	4h	0.007516	0.000%	$617K	$100K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007513	−0.040%	—	$1.3M	—	as long as short
BloFin ALT-USDTlong	+0.0148%	4h	0.007516	long leg	$171K	$10K	50x
Coinbase International ALT-PERP-INTX	+0.0416%	1h	0.007548	+0.426%	$14K	$3K	50x	as long as short