Funding arb · Price arb /

BLUR

all BLUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0044%/8h= −4.9% APRpaid last 24h −0.007%

Price spread now: BloFin against Hyperliquid−0.101%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$980.980% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 3 days (all we have)+0.285%+$28 · spread now −0.101%, 7d avg +0.039%

Together, before fees+0.348%+ Points / potential airdropHyperliquid: Season 2 · farm board+$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.140% cheaper against Hyperliquid than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.039%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.063%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BLUR	0.01980	0.0100	pay 0.0013% / 1h	54m 59s	$1.3M	$434K	3x
Short	BloFin BLUR-USDT	0.01978	0.0056	get 0.0028% / 4h	2h 54m	$367K	$2K	50x

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 −0.101%Rate

Funding earned: −$9.33
Price spread: −0.101% → +0.039%: −$13.98
Slippage, 4 orders: −$76.96
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$121.26
Costs to cover: 0.980%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; BloFin: live order book, 10 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, 5 min ago	1.76 bp	18.8 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 10 min ago	2.49 bp	28.3 bp −$28	76.6 bp −$766	doesn't fit	doesn't fit

BLUR on 15 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_BLURUSD	−0.3624%	1h	0.01977	−0.166%	$13K	$6K	10x	as long as short
dYdX BLUR-USD	0.0000%	1h	0.01981	+0.071%	$25K	$328	5x	as long as short
Injective BLUR/USDC PERP	+0.0033%	1h	0.01998	+0.909%	$1K	$212	5.5x	as long as short
BloFin BLUR-USDTshort	+0.0056%	4h	0.01978	−0.101%	$367K	$2K	50x
Hyperliquid BLURlong	+0.0100%	1h	0.01980	long leg	$1.3M	$434K	3x
Aster BLURUSDT	+0.0100%	4h	0.01981	+0.072%	$4K	$3K	5x	as long as short
Binance BLURUSDT	+0.0100%	4h	0.01980	0.000%	$2.0M	$3.6M	50x	as long as short
Bybit BLURUSDT	+0.0100%	8h	0.01981	+0.040%	$1.3M	$984K	25x	as long as short
OKX BLUR-USDT-SWAP	+0.0100%	4h	0.01981	+0.051%	$974K	$1.7M	20x	as long as short
MEXC BLUR_USDT	+0.0100%	4h	0.01979	−0.051%	$1.1M	$114K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BLURUSDTM	+0.0100%	4h	0.01981	+0.051%	$575K	$101K	30x	as long as short
Bitget BLURUSDT	+0.0100%	4h	0.01981	+0.051%	$818K	$471K	50x	as long as short
BingX BLUR-USDT	+0.0100%	4h	0.01981	+0.051%	—	$13.7M	—	as long as short
Variational Omni BLUR	+0.0100%	8h	0.01979	−0.038%	$1K	$849	—	as long as short
Gate BLUR_USDT	+0.0286%	4h	0.01984	+0.202%	$792K	$259K	50x	as long as short