Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Hyperliquid against Bitget+0.247%7-day average +0.206% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$740.738% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 7 days−0.100%−$10 · spread now +0.247%, 7d avg +0.206%

Together, before fees−0.030%+ 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: Hyperliquid is 0.041% dearer against Bitget than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.206%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ARUSDT	4.4960	0.0100	pay 0.0100% / 8h	5h 47m	$3.9M	$5.3M	75x
Short	Hyperliquid AR	4.5071	0.0100	get 0.0013% / 1h	47m 11s	$4.1M	$4.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.247%Rate

Funding earned: $0
Price spread: +0.247% → +0.206%: $4.08
Slippage, 4 orders: −$52.83
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$69.75
Costs to cover: 0.738%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Hyperliquid: 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 Bitget live order book, 1 min ago	4.45 bp	26.7 bp −$27	86.4 bp −$864	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	3.64 bp	12.0 bp −$12	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	4.5025	+0.144%	$579K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0104%	8h	4.4970	+0.022%	$2.3M	$18.8M	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5290	+0.734%	$548	$3K	5.5x	as long as short
MEXC AR_USDT	+0.0085%	8h	4.5000	+0.089%	$6.3M	$4.2M	100x	as long as short
Binance ARUSDT	+0.0088%	8h	4.5010	+0.111%	$9.0M	$51.7M	75x	as long as short
Extended AR-USD	+0.0088%	1h	4.4993	+0.073%	$37K	$239K	10x	as long as short
Hyperliquid ARshort	+0.0100%	1h	4.5071	+0.247%	$4.1M	$4.5M	5x
Aster ARUSDT	+0.0100%	8h	4.5043	+0.185%	$19K	$500K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5020	+0.133%	$4.6M	$8.4M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4990	+0.067%	$2.5M	$1.9M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.5000	+0.089%	$1.2M	$1.2M	50x	as long as short
Bitget ARUSDTlong	+0.0100%	8h	4.4960	long leg	$3.9M	$5.3M	75x
BingX AR-USDT	+0.0100%	8h	4.5020	+0.133%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5296	+0.748%	$235K	$258K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5090	+0.289%	$20K	$725K	50x	as long as short
BloFin AR-USDT	+0.0208%	8h	4.5040	+0.178%	—	$496K	20x	as long as short
Kraken Futures PF_ARUSD	+0.1937%	1h	4.5130	+0.377%	$55K	$149K	20x	as long as short