Funding arb · Price arb /

COMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Gate+0.089%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$186as in the Price arb table

costs, in and out, $10k−$1901.899% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.089%, 7d avg +0.049%

Together, before fees−0.009%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 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 0.040% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate COMP_USDT	22.440	0.0100	pay 0.0100% / 8h	2h 19m	$220K	$83K	25x
Short	Hyperliquid COMP	22.460	0.0100	get 0.0013% / 1h	19m 54s	$842K	$518K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.089%Rate

Funding earned: $0
Price spread: +0.089% → +0.049%: $4.05
Slippage, 4 orders: −$165.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$185.84
Costs to cover: 1.899%
Break-even: never at this rate

Slippage from Gate: live order book, 64 min ago; Hyperliquid: live order book, 65 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 Gate live order book, 64 min ago	11.19 bp	71.4 bp −$71	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 65 min ago	2.23 bp	26.6 bp −$27	doesn't fit	doesn't fit	doesn't fit

COMP on 16 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
Injective COMP/USDC PERP	−0.1289%	1h	22.280	−0.713%	$3K	$12K	12x	as long as short
Deribit COMP_USDC-PERPETUAL	−0.1085%	1h	22.450	+0.045%	$229	$229	50x	as long as short
Kraken Futures PF_COMPUSD	−0.0844%	1h	22.498	+0.257%	$236K	$84K	20x	as long as short
Coinbase International COMP-PERP-INTX	−0.0024%	1h	22.530	+0.401%	$18K	$53K	25x	as long as short
dYdX COMP-USD	0.0000%	1h	22.490	+0.223%	$68K	—	5x	as long as short
BloFin COMP-USDT	+0.0084%	8h	22.430	−0.045%	$237K	$149K	20x	as long as short
Hyperliquid COMPshort	+0.0100%	1h	22.460	+0.089%	$842K	$518K	5x
Binance COMPUSDT	+0.0100%	8h	22.440	0.000%	$4.2M	$7.9M	75x	as long as short
Bybit COMPUSDT	+0.0100%	8h	22.430	−0.045%	$3.8M	$2.1M	75x	as long as short
OKX COMP-USDT-SWAP	+0.0100%	8h	22.450	+0.045%	$1.6M	$2.3M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate COMP_USDTlong	+0.0100%	8h	22.440	long leg	$220K	$83K	25x
MEXC COMP_USDT	+0.0100%	8h	22.450	+0.045%	$2.7M	$861K	20x	as long as short
KuCoin COMPUSDTM	+0.0100%	8h	22.460	+0.089%	$454K	$103K	30x	as long as short
Bitget COMPUSDT	+0.0100%	8h	22.440	0.000%	$1.9M	$755K	75x	as long as short
BingX COMP-USDT	+0.0100%	8h	22.450	+0.045%	—	$36.4M	—	as long as short
Variational Omni COMP	+0.0100%	8h	22.474	+0.150%	$15K	$37K	—	as long as short