Funding arb · Price arb /

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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 −0.024%

Price spread now: Binance against Hyperliquid−0.208%7-day average −0.143% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$600.598% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$15 on $10k

Price spread, last 7 days+0.130%+$13 · spread now −0.208%, 7d avg −0.143%

Together, before fees−0.025%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 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: Binance is 0.064% cheaper against Hyperliquid than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.143%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AR	4.4773	0.0100	pay 0.0013% / 1h	18m 33s	$3.8M	$4.8M	5x
Short	Binance ARUSDT	4.4680	0.0100	get 0.0100% / 8h	2h 18m	$8.7M	$56.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.208%Rate

Funding earned: $0
Price spread: −0.208% → −0.143%: −$6.43
Slippage, 4 orders: −$40.78
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$66.21
Costs to cover: 0.598%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Binance: live order book, 9 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, 3 min ago	1.67 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	1.11 bp	17.1 bp −$17	48.0 bp −$480	367.2 bp −$36.7K	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
Kraken Futures PF_ARUSD	−0.2003%	1h	4.4781	+0.018%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4797	+0.053%	$576K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.115%	$3K	$363	5.5x	as long as short
Hyperliquid ARlong	+0.0100%	1h	4.4773	long leg	$3.8M	$4.8M	5x
Aster ARUSDT	+0.0100%	8h	4.4763	−0.023%	$20K	$621K	10x	as long as short
Binance ARUSDTshort	+0.0100%	8h	4.4680	−0.208%	$8.7M	$56.1M	75x
Bybit ARUSDT	+0.0100%	8h	4.4690	−0.185%	$4.6M	$9.0M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.4660	−0.252%	$2.2M	$20.6M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4700	−0.163%	$2.5M	$2.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4690	−0.185%	$6.8M	$4.8M	100x	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	4.4770	−0.007%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4750	−0.051%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4700	−0.163%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4848	+0.166%	$137K	$172K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4880	+0.239%	$58K	$747K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4684	−0.199%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4720	−0.118%	$419K	$668K	20x	as long as short