Funding arb · Price arb /

DYM

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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: Bitget against Hyperliquid−0.055%7-day average +0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$169as in the Price arb table

costs, in and out, $10k−$1531.528% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 4 days (all we have)+0.086%+$9 · spread now −0.055%, 7d avg +0.112%

Together, before fees+0.144%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 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: Bitget is 0.167% cheaper against Hyperliquid than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.112%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid DYM	0.01821	0.0100	pay 0.0013% / 1h	42m 38s	$364K	$259K	3x
Short	Bitget DYMUSDT	0.01820	0.0100	get 0.0050% / 4h	2h 42m	$396K	$193K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → +0.112%: −$16.7
Slippage, 4 orders: −$131.76
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$169.46
Costs to cover: 1.528%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 41 min ago; Bitget: live order book, 41 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, 41 min ago	2.73 bp	55.8 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 41 min ago	2.73 bp	29.1 bp −$29	155.8 bp −$1,558	doesn't fit	doesn't fit

DYM on 14 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
dYdX DYM-USD	0.0000%	1h	0.01818	−0.168%	$249	$5	5x	as long as short
Injective DYM/USDC PERP	+0.0033%	1h	0.01718	−5.656%	$237	$12K	5.5x	as long as short
Hyperliquid DYMlong	+0.0100%	1h	0.01821	long leg	$364K	$259K	3x
Aster DYMUSDT	+0.0100%	4h	0.01823	+0.085%	$75K	$6K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01821	−0.020%	$2.4M	$4.9M	10x	as long as short
Bybit DYMUSDT	+0.0100%	4h	0.01820	−0.060%	$780K	$414K	25x	as long as short
Gate DYM_USDT	+0.0100%	4h	0.01823	+0.110%	$141K	$170K	25x	as long as short
MEXC DYM_USDT	+0.0100%	4h	0.01820	−0.055%	$1.2M	$698K	20x	as long as short
Bitget DYMUSDTshort	+0.0100%	4h	0.01820	−0.055%	$396K	$193K	25x
BingX DYM-USDT	+0.0100%	4h	0.01821	0.000%	—	$12.6M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DYM	+0.0100%	4h	0.01822	+0.055%	$9K	$5K	—	as long as short
Extended DYM-USD	+0.0104%	1h	0.01820	−0.032%	$4K	$263K	5x	as long as short
KuCoin DYMUSDTM	+0.1504%	4h	0.01827	+0.329%	$430K	$146K	25x	as long as short
Kraken Futures PF_DYMUSD	+0.2181%	1h	0.01824	+0.157%	$14K	$5K	10x	as long as short