Funding arb · Price arb /

AZTEC

all AZTEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h +0.053%

Price spread now: BingX against Hyperliquid−0.117%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$157as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1221.219% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.353%−$35 on $10k

Price spread, last 7 days−0.023%−$2 · spread now −0.117%, 7d avg −0.078%

Together, before fees−0.376%+ Points / potential airdropHyperliquid: Season 2 · farm board−$38 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BingX is 0.039% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.078%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AZTEC	0.01622	0.0164	pay 0.0020% / 1h	57m 33s	$1.1M	$1.2M	3x
Short	BingX AZTEC-USDT	0.01620	0.0036	get 0.0018% / 4h	1h 57m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.117%Rate

Funding earned: −$26.79
Price spread: −0.117% → −0.078%: −$3.94
Slippage, 4 orders: −$102.87
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$152.6
Costs to cover: 1.219%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; BingX: 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 Hyperliquid live order book, 3 min ago	2.16 bp	23.9 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	9.27 bp	30.6 bp −$31	96.8 bp −$968	712.4 bp −$71.2K	1161.7 bp −$580.9K

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-USDTshort	+0.0036%	4h	0.01620	−0.117%	—	$1.6M	—
BloFin AZTEC-USDT	+0.0094%	4h	0.01617	−0.302%	$97K	$30K	25x	as long as short
Lighter AZTEC	+0.0096%	1h	0.01617	−0.271%	$81K	$95K	3x	as long as short
Aster AZTECUSDT	+0.0100%	4h	0.01618	−0.232%	$7K	$21K	5x	as long as short
Binance AZTECUSDT	+0.0100%	4h	0.01620	−0.096%	$1.9M	$4.1M	25x	as long as short
Bybit AZTECUSDT	+0.0100%	4h	0.01619	−0.179%	$1.5M	$1.3M	25x	as long as short
OKX AZTEC-USDT-SWAP	+0.0100%	4h	0.01620	−0.117%	$363K	$889K	20x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01617	−0.302%	$295K	$428K	25x	as long as short
MEXC AZTEC_USDT	+0.0100%	4h	0.01620	−0.117%	$243K	$104K	20x	as long as short
KuCoin AZTECUSDTM	+0.0100%	4h	0.01619	−0.179%	$284K	$287K	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	0.01621	−0.055%	$358K	$276K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01616	−0.367%	$65K	$81K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01620	−0.101%	$57K	$387K	5x	as long as short
Hyperliquid AZTEClong	+0.0164%	1h	0.01622	long leg	$1.1M	$1.2M	3x