Funding arb · Price arb /

ANIME

all ANIME markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Hyperliquid against KuCoin−0.121%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$223as in the Funding arb table

Net, price: spread back to 7d avg − costs−$230as in the Price arb table

costs, in and out, $10k−$2202.202% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now −0.121%, 7d avg −0.019%

Together, before fees−0.038%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 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 0.102% cheaper against KuCoin than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ANIMEUSDTM	0.003310	0.0100	pay 0.0050% / 4h	2h 39m	$433K	$58K	20x
Short	Hyperliquid ANIME	0.003306	0.0100	get 0.0013% / 1h	39m 39s	$288K	$83K	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

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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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now −0.121%Rate

Funding earned: $0
Price spread: −0.121% → −0.019%: −$10.22
Slippage, 4 orders: −$199.22
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$230.44
Costs to cover: 2.202%
Break-even: never at this rate

Slippage from KuCoin: live order book, 18 min ago; Hyperliquid: live order book, 30 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, 18 min ago	5.99 bp	80.4 bp −$80	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 30 min ago	1.50 bp	33.3 bp −$33	doesn't fit	doesn't fit	doesn't fit

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
Kraken Futures PF_ANIMEUSD	−0.0041%	1h	0.003318	+0.240%	$33K	$1K	10x	as long as short
Hyperliquid ANIMEshort	+0.0100%	1h	0.003306	−0.121%	$288K	$83K	3x
Aster ANIMEUSDT	+0.0100%	4h	0.003310	−0.008%	$27K	$3K	5x	as long as short
Binance ANIMEUSDT	+0.0100%	4h	0.003310	0.000%	$1.3M	$1.6M	20x	as long as short
Bybit ANIMEUSDT	+0.0100%	4h	0.003308	−0.060%	$679K	$271K	25x	as long as short
OKX ANIME-USDT-SWAP	+0.0100%	4h	0.003307	−0.091%	$423K	$507K	20x	as long as short
Gate ANIME_USDT	+0.0100%	4h	0.003313	+0.091%	$138K	$55K	25x	as long as short
MEXC ANIME_USDT	+0.0100%	4h	0.003308	−0.060%	$204K	$88K	20x	as long as short
KuCoin ANIMEUSDTMlong	+0.0100%	4h	0.003310	long leg	$433K	$58K	20x
Bitget ANIMEUSDT	+0.0100%	4h	0.003307	−0.091%	$845K	$147K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ANIME-USDT	+0.0100%	4h	0.003307	−0.091%	—	$6.5M	—	as long as short
Variational Omni ANIME	+0.0100%	4h	0.003324	+0.423%	$11K	$553	—	as long as short
GMX ANIME/USD [ANIME-USDC]	L +0.0497% / S −0.2017%	1h	0.003315	+0.151%	$810	—	100x	as long as short