Funding arb · Price arb /

AZTEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h −0.036%

Price spread now: Hyperliquid against BingX−0.032%7-day average +0.074% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.350%+$35 on $10k

Price spread, last 7 days+0.110%+$11 · spread now −0.032%, 7d avg +0.074%

Together, before fees+0.460%+ Points / potential airdropHyperliquid: Season 2 · farm board+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.105% cheaper against BingX than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.074%). If the spread goes back, that is −$11 on $10k: about 5.5 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.350% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AZTEC-USDT	0.01587	0.0036	pay 0.0018% / 4h	6m 05s	—	$1.6M	—
Short	Hyperliquid AZTEC	0.01587	0.0100	get 0.0013% / 1h	6m 05s	$1.1M	$1.2M	3x

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

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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 BingXbpFee HyperliquidbpOrdersPrice spread, now −0.032%Rate

Funding earned: $13.44
Price spread: −0.032% → +0.074%: −$10.54
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$16.1
Costs to cover: 0.190%
Break-even: 15.4 days

Slippage unknown: BingX: live order book, 11 min ago; Hyperliquid: live order book, 4 min ago. Net counts fees only.

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, 11 min ago	9.45 bp	28.8 bp −$29	99.8 bp −$998	1014.2 bp −$101.4K	1381.1 bp −$690.5K
Sell Hyperliquid live order book, 4 min ago	2.20 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

AZTEC on 14 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
BingX AZTEC-USDTlong	+0.0036%	4h	0.01587	long leg	—	$1.6M	—
BloFin AZTEC-USDT	+0.0085%	4h	0.01587	0.000%	$93K	$33K	25x	as long as short
Lighter AZTEC	+0.0096%	1h	0.01587	+0.025%	$56K	$107K	3x	as long as short
Hyperliquid AZTECshort	+0.0100%	1h	0.01587	−0.032%	$1.1M	$1.2M	3x
Aster AZTECUSDT	+0.0100%	4h	0.01586	−0.063%	$9K	$24K	5x	as long as short
Binance AZTECUSDT	+0.0100%	4h	0.01587	−0.010%	$1.9M	$4.4M	25x	as long as short
Bybit AZTECUSDT	+0.0100%	4h	0.01585	−0.107%	$1.5M	$1.3M	25x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01586	−0.063%	$296K	$430K	25x	as long as short
MEXC AZTEC_USDT	+0.0100%	4h	0.01586	−0.063%	$251K	$118K	20x	as long as short
KuCoin AZTECUSDTM	+0.0100%	4h	0.01588	+0.063%	$284K	$311K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AZTECUSDT	+0.0100%	4h	0.01588	+0.063%	$367K	$305K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01585	−0.112%	$63K	$65K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01587	−0.013%	$56K	$444K	5x	as long as short
OKX AZTEC-USDT-SWAP	+0.0110%	4h	0.01585	−0.126%	$327K	$932K	20x	as long as short