Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Hyperliquid+0.186%7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$728as in the Funding arb table

Net, price: spread back to 7d avg − costs−$730as in the Price arb table

costs, in and out, $10k−$7407.405% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.121%+$12 on $10k

Price spread, last 4 days (all we have)−0.149%−$15 · spread now +0.186%, 7d avg +0.077%

Together, before fees−0.028%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 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: KuCoin is 0.108% dearer against Hyperliquid than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ALT	0.007547	0.0100	pay 0.0013% / 1h	41m 12s	$1.1M	$138K	3x
Short	KuCoin ALTUSDTM	0.007561	0.0100	get 0.0050% / 4h	2h 41m	$145K	$20K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.186%Rate

Funding earned: $0
Price spread: +0.186% → +0.077%: $10.81
Slippage, 4 orders: −$719.46
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$729.65
Costs to cover: 7.405%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; KuCoin: live order book, 14 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, 9 min ago	3.94 bp	27.0 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 14 min ago	7.88 bp	229.2 bp −$229	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	−0.0675%	1h	0.007562	+0.199%	—	$0	25x	as long as short
Kraken Futures PF_ALTUSD	−0.0473%	1h	0.007557	+0.134%	$44K	$8K	10x	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007691	+1.908%	$837	$4K	5.5x	as long as short
Variational Omni ALT	+0.0083%	4h	0.007552	+0.063%	$4K	$16K	—	as long as short
Hyperliquid ALTlong	+0.0100%	1h	0.007547	long leg	$1.1M	$138K	3x
Binance ALTUSDT	+0.0100%	4h	0.007548	+0.016%	$2.6M	$3.5M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007539	−0.106%	$1.2M	$1.8M	25x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007548	+0.013%	$48K	$374K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007553	+0.080%	$379K	$171K	50x	as long as short
KuCoin ALTUSDTMshort	+0.0100%	4h	0.007561	+0.186%	$145K	$20K	30x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ALTUSDT	+0.0100%	4h	0.007543	−0.053%	$609K	$130K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007557	+0.133%	—	$1.3M	—	as long as short
BloFin ALT-USDT	+0.0130%	4h	0.007577	+0.398%	$172K	$9K	50x	as long as short
Coinbase International ALT-PERP-INTX	+0.0408%	1h	0.007691	+1.908%	$14K	$3K	50x	as long as short