Funding arb · Price arb /

FOGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against KuCoin+0.158%7-day average −0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$684as in the Funding arb table

Net, price: spread back to 7d avg − costs−$653as in the Price arb table

costs, in and out, $10k−$6766.761% of the position

Long on KuCoin 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)−0.111%−$11 · spread now +0.158%, 7d avg −0.073%

Together, before fees−0.186%+ Points / potential airdropHyperliquid: Season 2 · farm board−$19 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 0.231% dearer against KuCoin than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin FOGOUSDTM	0.006970	0.0100	pay 0.0050% / 4h	1m 07s	$286K	$93K	50x
Short	Hyperliquid FOGO	0.006981	0.0100	get 0.0013% / 1h	1m 07s	$711K	$292K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.158%Rate

Funding earned: $0
Price spread: +0.158% → −0.073%: $23.08
Slippage, 4 orders: −$655.15
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$653.07
Costs to cover: 6.761%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Hyperliquid: live order book, 29 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 KuCoin live order book, 10 min ago	21.50 bp	319.0 bp −$319	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 29 min ago	2.89 bp	25.9 bp −$26	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	0.006998	+0.402%	$11K	$10K	3x	as long as short
Hyperliquid FOGOshort	+0.0100%	1h	0.006981	+0.158%	$711K	$292K	3x
Aster FOGOUSDT	+0.0100%	4h	0.006971	+0.014%	$13K	$12K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006990	+0.288%	$1.9M	$2.1M	50x	as long as short
Bybit FOGOUSDT	+0.0100%	4h	0.006970	0.000%	$760K	$201K	50x	as long as short
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006979	+0.129%	$532K	$871K	10x	as long as short
Gate FOGO_USDT	+0.0100%	4h	0.006960	−0.143%	$112K	$54K	50x	as long as short
MEXC FOGO_USDT	+0.0100%	4h	0.006986	+0.230%	$320K	$125K	50x	as long as short
KuCoin FOGOUSDTMlong	+0.0100%	4h	0.006970	long leg	$286K	$93K	50x
Bitget FOGOUSDT	+0.0100%	4h	0.006980	+0.143%	$135K	$64K	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	0.006960	−0.143%	—	$1.3M	—	as long as short
Variational Omni FOGO	+0.0100%	4h	0.006974	+0.061%	$98K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006970	0.000%	$1K	$1.2M	20x	as long as short