Funding arb · Price arb /

BLUR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against KuCoin−0.085%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$220as in the Funding arb table

Net, price: spread back to 7d avg − costs−$248as in the Price arb table

costs, in and out, $10k−$2452.449% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.250%+$25 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.085%, 7d avg −0.054%

Together, before fees+0.289%+ Points / potential airdropHyperliquid: Season 2 · farm board+$29 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: Hyperliquid is 0.030% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BLURUSDTM	0.02009	0.0100	pay 0.0050% / 4h	7m 59s	$586K	$97K	30x
Short	Hyperliquid BLUR	0.02007	0.0100	get 0.0013% / 1h	7m 59s	$1.4M	$429K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now −0.085%Rate

Funding earned: $0
Price spread: −0.085% → −0.054%: −$3.02
Slippage, 4 orders: −$223.89
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$247.91
Costs to cover: 2.449%
Break-even: never at this rate

Slippage from KuCoin: live order book, 55 min ago; Hyperliquid: live order book, 3 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 KuCoin live order book, 55 min ago	12.48 bp	110.0 bp −$110	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.25 bp	38.2 bp −$38	doesn't fit	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	−0.0626%	1h	0.02010	+0.038%	$12K	$5K	10x	as long as short
Injective BLUR/USDC PERP	+0.0033%	1h	0.01998	−0.548%	$1K	$212	5.5x	as long as short
Hyperliquid BLURshort	+0.0100%	1h	0.02007	−0.085%	$1.4M	$429K	3x
Aster BLURUSDT	+0.0100%	4h	0.02004	−0.230%	$4K	$3K	5x	as long as short
Binance BLURUSDT	+0.0100%	4h	0.02008	−0.056%	$2.0M	$3.4M	50x	as long as short
Bybit BLURUSDT	+0.0100%	8h	0.02009	+0.015%	$1.3M	$972K	25x	as long as short
OKX BLUR-USDT-SWAP	+0.0100%	4h	0.02011	+0.100%	$982K	$1.7M	20x	as long as short
Gate BLUR_USDT	+0.0100%	4h	0.02008	−0.050%	$798K	$252K	50x	as long as short
MEXC BLUR_USDT	+0.0100%	4h	0.02007	−0.100%	$1.1M	$118K	20x	as long as short
KuCoin BLURUSDTMlong	+0.0100%	4h	0.02009	long leg	$586K	$97K	30x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BLURUSDT	+0.0100%	4h	0.02006	−0.149%	$829K	$439K	50x	as long as short
BingX BLUR-USDT	+0.0100%	4h	0.02006	−0.149%	—	$13.2M	—	as long as short
Variational Omni BLUR	+0.0100%	8h	0.02003	−0.291%	$1K	$849	—	as long as short
BloFin BLUR-USDT	+0.0158%	4h	0.02001	−0.398%	$354K	$2K	50x	as long as short
dYdX BLUR-USD	+0.1413%	1h	0.02004	−0.249%	$26K	$328	5x	as long as short