Funding arb · Price arb /

AR

all AR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h −0.027%

Price spread now: BloFin against Hyperliquid−0.121%7-day average −0.170% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$600.603% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 3 days (all we have)+0.378%+$38 · spread now −0.121%, 7d avg −0.170%

Together, before fees+0.346%+ Points / potential airdropHyperliquid: Season 2 · farm board+$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.049% dearer against Hyperliquid than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.170%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AR	4.4764	0.0100	pay 0.0013% / 1h	41m 10s	$3.8M	$4.9M	5x
Short	BloFin AR-USDT	4.4710	0.0220	get 0.0220% / 8h	2h 41m	$422K	$674K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.121%Rate

Funding earned: $25.2
Price spread: −0.121% → −0.170%: $4.94
Slippage, 4 orders: −$39.33
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$30.19
Costs to cover: 0.603%
Break-even: 15.4 days

Slippage from Hyperliquid: live order book, 11 min ago; BloFin: live order book, 45 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, 11 min ago	3.35 bp	16.6 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 45 min ago	6.65 bp	14.1 bp −$14	19.7 bp −$197	155.4 bp −$15.5K	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	−0.2007%	1h	4.4706	−0.129%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4720	−0.098%	$575K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.136%	$3K	$363	5.5x	as long as short
Hyperliquid ARlong	+0.0100%	1h	4.4764	long leg	$3.8M	$4.9M	5x
Aster ARUSDT	+0.0100%	8h	4.4680	−0.188%	$20K	$630K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4690	−0.165%	$8.8M	$56.7M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4680	−0.188%	$4.6M	$8.9M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.4660	−0.232%	$2.2M	$20.8M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4670	−0.210%	$2.5M	$2.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4690	−0.165%	$6.6M	$4.7M	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	4.4730	−0.076%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4660	−0.232%	$3.8M	$5.7M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4680	−0.188%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4725	−0.087%	$137K	$173K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4700	−0.143%	$57K	$747K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4685	−0.177%	$36K	$237K	10x	as long as short
BloFin AR-USDTshort	+0.0220%	8h	4.4710	−0.121%	$422K	$674K	20x