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

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.053%
Price spread now: Hyperliquid against Bitget+0.043%7-day average +0.123% · you sell dearer than you buy
Net, funding: paid 7d − costs−$65as in the Funding arb table
Net, price: spread back to 7d avg − costs−$91as in the Price arb table
costs, in and out, $10k−$830.828% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.179%+$18 on $10k
Price spread, last 4 days (all we have)+0.465%+$46 · spread now +0.043%, 7d avg +0.123%
Together, before fees+0.644%+ Points / potential airdropHyperliquid: Season 2 · farm board+$64 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 0.080% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.123%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget CCUSDT0.11700.0100pay 0.0050% / 4h58m 30s$916K$774K20x
ShortHyperliquid CC0.11700.0100get 0.0013% / 1h58m 30s$5.5M$1.4M3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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
$0
Price spread: +0.043% → +0.123%
−$8
Slippage, 4 orders
−$61.76
Fee Bitget: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$90.77
Costs to cover
0.828%
Break-even
never at this rate
Slippage from Bitget: live order book, 62 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
LegHalf-spread$10k$100k$1M$5M
Buy Bitget live order book, 62 min ago2.97 bp36.7 bp −$3791.9 bp −$919doesn't fitdoesn't fit
Sell Hyperliquid live order book, 3 min ago1.71 bp9.8 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−0.3024%1h0.1180+0.872%$402$3K5.5xas long as short
Bybit CCUSDT−0.0143%4h0.1169−0.085%$10.6M$3.8M25xas long as short
MEXC CC_USDT−0.0136%4h0.1169−0.103%$1.7M$323K100xas long as short
Paradex CC-USD-PERP+0.0098%8h0.1170+0.007%$1K5xas long as short
Hyperliquid CCshort+0.0100%1h0.1170+0.043%$5.5M$1.4M3x
Aster CCUSDT+0.0100%4h0.1170+0.024%$35K$32K20xas long as short
Binance CCUSDT+0.0100%4h0.1169−0.075%$11.0M$12.1M75xas long as short
OKX CC-USDT-SWAP+0.0100%4h0.1168−0.111%$2.5M$3.4M20xas long as short
Gate CC_USDT+0.0100%4h0.1170+0.051%$362K$216K50xas long as short
KuCoin CCUSDTM+0.0100%4h0.1170+0.034%$482K$122K50xas long as short
Show all 19 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget CCUSDTlong+0.0100%4h0.1170long leg$916K$774K20x
BingX CC-USDT+0.0100%4h0.1168−0.154%$6.6Mas long as short
Backpack CC_USDC_PERP+0.0100%1h0.1169−0.060%$15K$22K10xas long as short
Variational Omni CC+0.0100%4h0.1170−0.016%$595K$55Kas long as short
GRVT CC_USDT_Perp+0.0100%4h0.1170−0.006%$90K$2.4M10xas long as short
Derive CC-PERP+0.0100%1h0.1168−0.147%$6K$35K6.7xas long as short
BloFin CC-USDT+0.0340%4h0.1168−0.162%$597K$98K75xas long as short
GMX CC/USD [WBTC.b-USDC]L +0.0447% / S −0.0241%1h0.1169−0.110%$44K50xas long as short
Lighter CC+0.0624%1h0.1175+0.462%$243K$160K5xas long as short