Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0108%/8h= +11.8% APRpaid last 24h +0.003%

Price spread now: Hyperliquid against BingX+0.217%7-day average +0.179% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$730.732% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 7 days−0.087%−$9 · spread now +0.217%, 7d avg +0.179%

Together, before fees+0.012%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.039% dearer against BingX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.179%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AR-USDT	4.4680	0.0100	pay 0.0100% / 8h	4h 06m	—	$2.8M	—
Short	Hyperliquid AR	4.4777	0.0208	get 0.0026% / 1h	6m 30s	$4.0M	$4.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.217%Rate

Funding earned: $22.66
Price spread: +0.217% → +0.179%: $3.85
Slippage, 4 orders: −$54.2
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$46.69
Costs to cover: 0.732%
Break-even: 21.4 days

Slippage from BingX: live order book, 3 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 BingX live order book, 3 min ago	5.59 bp	21.2 bp −$21	37.6 bp −$376	388.5 bp −$38.9K	759.1 bp −$379.5K
Sell Hyperliquid live order book, 5 min ago	2.57 bp	15.6 bp −$16	doesn't fit	doesn't fit	doesn't fit

AR on 17 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
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.4780	+0.223%	$576K	—	50x	as long as short
OKX AR-USDT-SWAP	+0.0059%	8h	4.4680	0.000%	$2.3M	$17.7M	20x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4772	+0.206%	$26K	$478K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4677	−0.006%	$8.8M	$49.8M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4690	+0.022%	$4.6M	$8.2M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4720	+0.090%	$2.5M	$1.9M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4700	+0.045%	$6.4M	$4.2M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.4680	0.000%	$1.1M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4660	−0.045%	$3.9M	$5.0M	75x	as long as short
BingX AR-USDTlong	+0.0100%	8h	4.4680	long leg	—	$2.8M	—

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AR	+0.0100%	8h	4.4692	+0.026%	$236K	$246K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4760	+0.179%	$19K	$719K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4682	+0.004%	$37K	$236K	10x	as long as short
Hyperliquid ARshort	+0.0208%	1h	4.4777	+0.217%	$4.0M	$4.3M	5x
BloFin AR-USDT	+0.0220%	8h	4.4780	+0.224%	$423K	$469K	20x	as long as short
Kraken Futures PF_ARUSD	+0.0695%	1h	4.4717	+0.082%	$60K	$159K	20x	as long as short
Injective AR/USDC PERP	+0.0854%	1h	4.4770	+0.201%	$2K	$5K	5.5x	as long as short