Funding arb · Price arb /

GRASS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1358%/8h= −148.7% APRpaid last 24h −0.171%

Price spread now: Bitget against Hyperliquid−0.252%7-day average −0.233% · you buy dearer than you sell

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

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.500%−$50 on $10k

Price spread, last 7 days+0.019%+$2 · spread now −0.252%, 7d avg −0.233%

Together, before fees−0.480%+ Points / potential airdropHyperliquid: Season 2 · farm board−$48 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.233%, so right now this pair is about funding alone: −$41 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.500% in total (about -26.0% 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	Hyperliquid GRASS	0.4211	0.1458	pay 0.0182% / 1h	53m 15s	$15.8M	$3.8M	3x
Short	Bitget GRASSUSDT	0.4200	0.0100	get 0.0050% / 4h	2h 53m	$4.9M	$3.0M	75x

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 −0.252%Rate

Funding earned: −$285.1
Price spread: −0.252% → −0.233%: −$1.88
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$307.98
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; Bitget: live order book, 5 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 Hyperliquid live order book, 10 min ago	0.60 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	6.71 bp	25.7 bp −$26	67.4 bp −$674	doesn't fit	doesn't fit

GRASS on 17 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
Reya GRASSRUSDPERP	−0.0112%	1h	0.4203	−0.171%	$632	—	15x	as long as short
Injective GRASS/USDC PERP	+0.0033%	1h	0.4267	+1.339%	$7	$23K	5.5x	as long as short
Binance GRASSUSDT	+0.0100%	4h	0.4215	+0.099%	$9.9M	$27.1M	75x	as long as short
Bybit GRASSUSDT	+0.0100%	4h	0.4211	+0.005%	$23.8M	$15.4M	25x	as long as short
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4215	+0.104%	$3.2M	$14.1M	20x	as long as short
Gate GRASS_USDT	+0.0100%	4h	0.4200	−0.252%	$1.1M	$1.5M	50x	as long as short
MEXC GRASS_USDT	+0.0100%	4h	0.4212	+0.033%	$1.3M	$2.2M	100x	as long as short
Bitget GRASSUSDTshort	+0.0100%	4h	0.4200	−0.252%	$4.9M	$3.0M	75x
BingX GRASS-USDT	+0.0100%	4h	0.4201	−0.228%	—	$7.3M	—	as long as short
Variational Omni GRASS	+0.0100%	4h	0.4149	−1.454%	$2.0M	$1.2M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended GRASS-USD	+0.0104%	1h	0.4205	−0.138%	$207K	$900K	10x	as long as short
BloFin GRASS-USDT	+0.0159%	4h	0.4212	+0.033%	$536K	$297K	20x	as long as short
KuCoin GRASSUSDTM	+0.0228%	4h	0.4209	−0.038%	$1.3M	$1.5M	50x	as long as short
Aster GRASSUSDT	+0.0568%	4h	0.4196	−0.337%	$68K	$209K	10x	as long as short
Kraken Futures PF_GRASSUSD	+0.0630%	1h	0.4207	−0.075%	$150K	$127K	20x	as long as short
Hyperliquid GRASSlong	+0.1458%	1h	0.4211	long leg	$15.8M	$3.8M	3x
Lighter GRASS	+0.2024%	1h	0.4229	+0.444%	$826K	$780K	5x	as long as short