Funding arb · Price arb /

FOGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Hyperliquid+0.115%7-day average +0.153% · you sell dearer than you buy

Net, funding: paid 7d − costs−$178as in the Funding arb table

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$1861.858% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.071%+$7 · spread now +0.115%, 7d avg +0.153%

Together, before fees+0.146%+ Points / potential airdropHyperliquid: Season 2 · farm board+$15 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 0.037% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.153%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid FOGO	0.006942	0.0100	pay 0.0013% / 1h	33m 58s	$706K	$291K	3x
Short	Bitget FOGOUSDT	0.006950	0.0100	get 0.0050% / 4h	3h 33m	$134K	$63K	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 +0.115%Rate

Funding earned: $0
Price spread: +0.115% → +0.153%: −$3.74
Slippage, 4 orders: −$164.77
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$189.51
Costs to cover: 1.858%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 56 min ago; Bitget: live order book, 10 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, 56 min ago	2.89 bp	51.2 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 10 min ago	7.18 bp	58.3 bp −$58	352.8 bp −$3,528	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	0.006956	+0.202%	$11K	$9K	3x	as long as short
Hyperliquid FOGOlong	+0.0100%	1h	0.006942	long leg	$706K	$291K	3x
Aster FOGOUSDT	+0.0100%	4h	0.006955	+0.186%	$13K	$12K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006951	+0.130%	$1.9M	$2.1M	50x	as long as short
Bybit FOGOUSDT	+0.0100%	4h	0.006945	+0.043%	$757K	$200K	50x	as long as short
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006934	−0.115%	$528K	$867K	10x	as long as short
Gate FOGO_USDT	+0.0100%	4h	0.006950	+0.115%	$112K	$53K	50x	as long as short
MEXC FOGO_USDT	+0.0100%	4h	0.006950	+0.115%	$319K	$122K	50x	as long as short
KuCoin FOGOUSDTM	+0.0100%	4h	0.006950	+0.115%	$283K	$94K	50x	as long as short
Bitget FOGOUSDTshort	+0.0100%	4h	0.006950	+0.115%	$134K	$63K	25x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX FOGO-USDT	+0.0100%	4h	0.006949	+0.101%	—	$1.3M	—	as long as short
Variational Omni FOGO	+0.0100%	4h	0.006947	+0.069%	$97K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006930	−0.173%	$2K	$1.2M	20x	as long as short