Funding arb · Price arb /

GOAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.2147%/8h= +235.0% APRpaid last 24h +0.277%

Price spread now: Hyperliquid against Gate+0.567%7-day average +0.295% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+1.195%+$120 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.567%, 7d avg +0.295%

Together, before fees+1.085%+ Points / potential airdropHyperliquid: Season 2 · farm board+$109 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$64 a day on $10k at the current rate, and Hyperliquid is 0.272% dearer against Gate than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.295%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.195% in total (about 62.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate GOAT_USDT	0.01834	0.0100	pay 0.0050% / 4h	56m 30s	$276K	$168K	25x
Short	Hyperliquid GOAT	0.01844	0.2247	get 0.0281% / 1h	56m 30s	$1.2M	$444K	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 +0.567%Rate

Funding earned: $450.78
Price spread: +0.567% → +0.295%: $27.25
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $454.02
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: Gate: live order book, 60 min ago; Hyperliquid: live order book, 4 min ago. Net counts fees only.

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, 60 min ago	22.19 bp	220.4 bp −$220	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.36 bp	20.7 bp −$21	doesn't fit	doesn't fit	doesn't fit

GOAT on 11 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
Bybit GOATUSDT	+0.0100%	4h	0.01830	−0.185%	$1.9M	$1.0M	25x	as long as short
Gate GOAT_USDTlong	+0.0100%	4h	0.01834	long leg	$276K	$168K	25x
KuCoin GOATUSDTM	+0.0100%	4h	0.01833	−0.033%	$365K	$154K	30x	as long as short
Variational Omni GOAT	+0.0100%	4h	0.01830	−0.217%	$6K	$18K	—	as long as short
BloFin GOAT-USDT	+0.0227%	4h	0.01834	+0.022%	$120K	$15K	25x	as long as short
MEXC GOAT_USDT	+0.0252%	4h	0.01840	+0.349%	$421K	$155K	200x	as long as short
Binance GOATUSDT	+0.0252%	4h	0.01842	+0.458%	$1.8M	$2.8M	25x	as long as short
BingX GOAT-USDT	+0.0286%	4h	0.01834	+0.022%	—	$6.6M	—	as long as short
Orderly PERP_GOAT_USDC	+0.2023%	4h	0.01836	+0.131%	$3K	$2K	10x	as long as short
Hyperliquid GOATshort	+0.2247%	1h	0.01844	+0.567%	$1.2M	$444K	3x

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_GOATUSD	+0.3351%	1h	0.01841	+0.413%	$30K	$4K	10x	as long as short