Funding arb · Price arb /

FOGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: KuCoin against Hyperliquid−0.259%7-day average +0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$954as in the Funding arb table

Net, price: spread back to 7d avg − costs−$995as in the Price arb table

costs, in and out, $10k−$9629.618% of the position

Long on Hyperliquid Short on KuCoin

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)+0.256%+$26 · spread now −0.259%, 7d avg +0.070%

Together, before fees+0.331%+ Points / potential airdropHyperliquid: Season 2 · farm board+$33 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: KuCoin is 0.329% cheaper against Hyperliquid than usual: you would sell low and buy high, −$33 on $10k if it goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid FOGO	0.006938	0.0100	pay 0.0013% / 1h	15m 34s	$717K	$318K	3x
Short	KuCoin FOGOUSDTM	0.006920	0.0100	get 0.0050% / 4h	3h 15m	$285K	$94K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.259%Rate

Funding earned: $0
Price spread: −0.259% → +0.070%: −$32.95
Slippage, 4 orders: −$940.77
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$994.72
Costs to cover: 9.618%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 44 min ago; KuCoin: live order book, 35 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, 44 min ago	1.46 bp	43.6 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 35 min ago	28.78 bp	530.7 bp −$531	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	0.006947	+0.130%	$11K	$11K	3x	as long as short
Hyperliquid FOGOlong	+0.0100%	1h	0.006938	long leg	$717K	$318K	3x
Aster FOGOUSDT	+0.0100%	4h	0.006921	−0.239%	$13K	$13K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006943	+0.072%	$1.9M	$2.1M	50x	as long as short
Bybit FOGOUSDT	+0.0100%	4h	0.006938	0.000%	$764K	$188K	50x	as long as short
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006934	−0.058%	$524K	$834K	10x	as long as short
Gate FOGO_USDT	+0.0100%	4h	0.006920	−0.259%	$110K	$48K	50x	as long as short
MEXC FOGO_USDT	+0.0100%	4h	0.006942	+0.058%	$321K	$125K	50x	as long as short
KuCoin FOGOUSDTMshort	+0.0100%	4h	0.006920	−0.259%	$285K	$94K	50x
Bitget FOGOUSDT	+0.0100%	4h	0.006940	+0.029%	$132K	$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	0.006925	−0.187%	—	$1.3M	—	as long as short
Variational Omni FOGO	+0.0100%	4h	0.006924	−0.203%	$97K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006930	−0.115%	$1K	$1.2M	20x	as long as short