Funding arb · Price arb /

ANIME

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Swap Backtest

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: BingX against Hyperliquid−0.179%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1081.078% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$5 on $10k

Price spread, last 4 days (all we have)+0.429%+$43 · spread now −0.179%, 7d avg +0.063%

Together, before fees+0.474%+ Points / potential airdropHyperliquid: Season 2 · farm board+$47 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: BingX is 0.242% cheaper against Hyperliquid than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of +0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ANIME	0.003356	0.0100	pay 0.0013% / 1h	32m 00s	$292K	$100K	3x
Short	BingX ANIME-USDT	0.003350	0.0100	get 0.0050% / 4h	32m 00s	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.179%Rate

Funding earned: $0
Price spread: −0.179% → +0.063%: −$24.21
Slippage, 4 orders: −$88.76
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$131.97
Costs to cover: 1.078%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 57 min ago; BingX: live order book, 4 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, 57 min ago	1.48 bp	34.8 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	4.48 bp	20.5 bp −$21	133.4 bp −$1,334	701.9 bp −$70.2K	1123.3 bp −$561.6K

ANIME on 13 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
Hyperliquid ANIMElong	+0.0100%	1h	0.003356	long leg	$292K	$100K	3x
Aster ANIMEUSDT	+0.0100%	4h	0.003349	−0.220%	$27K	$3K	5x	as long as short
Binance ANIMEUSDT	+0.0100%	4h	0.003359	+0.077%	$1.3M	$1.7M	20x	as long as short
Bybit ANIMEUSDT	+0.0100%	4h	0.003359	+0.089%	$700K	$291K	25x	as long as short
OKX ANIME-USDT-SWAP	+0.0100%	4h	0.003359	+0.089%	$428K	$546K	20x	as long as short
Gate ANIME_USDT	+0.0100%	4h	0.003350	−0.179%	$140K	$63K	25x	as long as short
MEXC ANIME_USDT	+0.0100%	4h	0.003357	+0.030%	$211K	$89K	20x	as long as short
KuCoin ANIMEUSDTM	+0.0100%	4h	0.003348	−0.238%	$436K	$60K	20x	as long as short
Bitget ANIMEUSDT	+0.0100%	4h	0.003346	−0.298%	$847K	$165K	10x	as long as short
BingX ANIME-USDTshort	+0.0100%	4h	0.003350	−0.179%	—	$6.5M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ANIME	+0.0100%	4h	0.003349	−0.196%	$11K	$553	—	as long as short
Kraken Futures PF_ANIMEUSD	+0.0241%	1h	0.003357	+0.028%	$33K	$1K	10x	as long as short
GMX ANIME/USD [ANIME-USDC]	L +0.0497% / S −0.2017%	1h	0.003354	−0.060%	$820	—	100x	as long as short