Funding arb · Price arb /

FOGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Hyperliquid against Gate+0.044%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$219as in the Funding arb table

Net, price: spread back to 7d avg − costs−$204as in the Price arb table

costs, in and out, $10k−$2122.117% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.044%, 7d avg −0.030%

Together, before fees−0.098%+ Points / potential airdropHyperliquid: Season 2 · farm board−$10 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 0.074% dearer against Gate than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate FOGO_USDT	0.006780	0.0100	pay 0.0050% / 4h	1h 02m	$108K	$47K	50x
Short	Hyperliquid FOGO	0.006783	0.0100	get 0.0013% / 1h	2m 40s	$742K	$277K	3x

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

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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.044%Rate

Funding earned: $0
Price spread: +0.044% → −0.030%: $7.44
Slippage, 4 orders: −$187.74
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$204.3
Costs to cover: 2.117%
Break-even: never at this rate

Slippage from Gate: live order book, 7 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Gate live order book, 7 min ago	7.39 bp	49.3 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	2.22 bp	23.3 bp −$23	doesn't fit	doesn't fit	doesn't fit

FOGO on 13 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
Lighter FOGO	+0.0096%	1h	0.006795	+0.221%	$11K	$11K	3x	as long as short
Hyperliquid FOGOshort	+0.0100%	1h	0.006783	+0.044%	$742K	$277K	3x
Aster FOGOUSDT	+0.0100%	4h	0.006782	+0.030%	$12K	$14K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006790	+0.141%	$1.8M	$2.1M	50x	as long as short
Bybit FOGOUSDT	+0.0100%	4h	0.006779	−0.015%	$754K	$175K	50x	as long as short
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006786	+0.088%	$510K	$782K	10x	as long as short
Gate FOGO_USDTlong	+0.0100%	4h	0.006780	long leg	$108K	$47K	50x
MEXC FOGO_USDT	+0.0100%	4h	0.006787	+0.103%	$328K	$124K	50x	as long as short
KuCoin FOGOUSDTM	+0.0100%	4h	0.006790	+0.147%	$282K	$93K	50x	as long as short
Bitget FOGOUSDT	+0.0100%	4h	0.006780	0.000%	$126K	$99K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX FOGO-USDT	+0.0100%	4h	0.006780	0.000%	—	$1.3M	—	as long as short
Variational Omni FOGO	+0.0100%	4h	0.006765	−0.227%	$95K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006770	−0.147%	$1K	$1.1M	20x	as long as short