Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.009%

Price spread now: Hyperliquid against KuCoin−0.160%7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$643as in the Funding arb table

Net, price: spread back to 7d avg − costs−$637as in the Price arb table

costs, in and out, $10k−$6286.282% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.144%−$14 on $10k

Price spread, last 4 days (all we have)+0.146%+$15 · spread now −0.160%, 7d avg −0.073%

Together, before fees+0.002%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 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 0.087% cheaper against KuCoin than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ALTUSDTM	0.007486	0.0100	pay 0.0050% / 4h	2h 39m	$150K	$21K	30x
Short	Hyperliquid ALT	0.007474	0.0100	get 0.0013% / 1h	39m 11s	$1.1M	$186K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now −0.160%Rate

Funding earned: $0
Price spread: −0.160% → −0.073%: −$8.74
Slippage, 4 orders: −$607.18
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$636.92
Costs to cover: 6.282%
Break-even: never at this rate

Slippage from KuCoin: live order book, 39 min ago; Hyperliquid: live order book, 1 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 KuCoin live order book, 39 min ago	18.00 bp	345.1 bp −$345	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 1 min ago	2.67 bp	18.4 bp −$18	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
Bybit ALTUSDT	−0.0563%	4h	0.007475	−0.147%	$1.2M	$1.6M	25x	as long as short
Variational Omni ALT	−0.0384%	4h	0.007474	−0.166%	$4K	$12K	—	as long as short
Deribit ALT_USDC-PERPETUAL	−0.0151%	1h	0.007474	−0.160%	—	$0	25x	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−1.403%	$815	$4K	5.5x	as long as short
BloFin ALT-USDT	+0.0071%	4h	0.007487	+0.013%	$172K	$9K	50x	as long as short
Hyperliquid ALTshort	+0.0100%	1h	0.007474	−0.160%	$1.1M	$186K	3x
Binance ALTUSDT	+0.0100%	4h	0.007472	−0.188%	$2.6M	$3.5M	50x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007486	0.000%	$51K	$414K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007473	−0.174%	$399K	$195K	50x	as long as short
KuCoin ALTUSDTMlong	+0.0100%	4h	0.007486	long leg	$150K	$21K	30x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ALTUSDT	+0.0100%	4h	0.007462	−0.321%	$613K	$102K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007477	−0.120%	—	$1.3M	—	as long as short
Kraken Futures PF_ALTUSD	+0.0200%	1h	0.007491	+0.062%	$44K	$8K	10x	as long as short
Coinbase International ALT-PERP-INTX	+0.0384%	1h	0.007512	+0.347%	$14K	$2K	50x	as long as short