Settings8H · net · $10k
Funding arb · Price arb /

CC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 23:00 UTC+0.0027%/8h= +2.9% APRpaid last 24h +0.046%
Price spread now: Hyperliquid against BingX+0.379%7-day average +0.152% · you sell dearer than you buy
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$680.675% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.158%+$16 on $10k
Price spread, last 7 days−0.249%−$25 · spread now +0.379%, 7d avg +0.152%
Together, before fees−0.091%+ Points / potential airdropHyperliquid: Season 2 · farm board−$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.227% dearer against BingX than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.152%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX CC-USDT0.11600.0100pay 0.0050% / 4h1h 24m$6.6M
ShortHyperliquid CC0.11650.0127get 0.0016% / 1h24m 45s$5.4M$1.4M3x

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

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

Funding earned
$5.57
Price spread: +0.379% → +0.152%
$22.69
Slippage, 4 orders
−$48.53
Fee BingX: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$39.27
Costs to cover
0.675%
Break-even
56.4 days
Slippage from BingX: live order book, 2 min ago; Hyperliquid: live order book, 7 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 2 min ago5.61 bp22.3 bp −$2275.6 bp −$756393.1 bp −$39.3K1071.7 bp −$535.9K
Sell Hyperliquid live order book, 7 min ago0.86 bp9.6 bp −$10doesn't fitdoesn't fitdoesn't fit

CC on 19 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective CC/USDC PERP−0.3951%1h0.1147−1.155%$6K$995.5xas long as short
Gate CC_USDT+0.0082%4h0.1161+0.017%$360K$212K50xas long as short
Paradex CC-USD-PERP+0.0092%8h0.1161+0.057%$1K5xas long as short
Aster CCUSDT+0.0100%4h0.1163+0.187%$34K$39K20xas long as short
Binance CCUSDT+0.0100%4h0.1162+0.156%$11.0M$11.1M75xas long as short
Bybit CCUSDT+0.0100%4h0.1162+0.129%$10.5M$3.8M25xas long as short
OKX CC-USDT-SWAP+0.0100%4h0.1163+0.198%$2.5M$3.4M20xas long as short
MEXC CC_USDT+0.0100%4h0.1162+0.138%$1.6M$309K100xas long as short
KuCoin CCUSDTM+0.0100%4h0.1162+0.172%$492K$115K50xas long as short
Bitget CCUSDT+0.0100%4h0.1162+0.164%$927K$789K20xas long as short
Show all 19 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX CC-USDTlong+0.0100%4h0.1160long leg$6.6M
Backpack CC_USDC_PERP+0.0100%1h0.1162+0.112%$16K$22K10xas long as short
Variational Omni CC+0.0100%4h0.1160−0.025%$578K$43Kas long as short
GRVT CC_USDT_Perp+0.0100%4h0.1160−0.055%$87K$2.3M10xas long as short
Derive CC-PERP+0.0100%1h0.1160+0.008%$7K$35K6.7xas long as short
Hyperliquid CCshort+0.0127%1h0.1165+0.379%$5.4M$1.4M3x
BloFin CC-USDT+0.0340%4h0.1161+0.069%$584K$105K75xas long as short
GMX CC/USD [WBTC.b-USDC]L +0.0441% / S −0.0239%1h0.1162+0.153%$43K50xas long as short
Lighter CC+0.1264%1h0.1167+0.543%$234K$152K5xas long as short