Funding arb · Price arb /

GRIFFAIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0772%/8h= +84.5% APRpaid last 24h +0.161%

Price spread now: BloFin against Hyperliquid−0.103%47s7-day average −0.049% · you buy dearer than you sell

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

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.595%+$60 on $10k

Price spread, last 3 days (all we have)−0.011%−$1 · spread now −0.103%, 7d avg −0.049%

Together, before fees+0.584%+ Points / potential airdropHyperliquid: Season 2 · farm board+$58 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.054% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.103% now, against its 7-day average of −0.049%). If the spread goes back, that is −$5 on $10k: about 6 hours of funding at the current rate (+$23 a day). At the pace of the last 7 days (+0.595% in total) that is about 15 hours. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid GRIFFAIN	0.01550	0.0304	pay 0.0038% / 1h	42m 26s	$1.2M	$97K	3x
Short	BloFin GRIFFAIN-USDT	0.01548	0.1076	get 0.0538% / 4h	3h 42m	$273K	$11K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpOrdersPrice spread, now −0.103%Rate

Funding earned: $162.1
Price spread: −0.103% → −0.049%: −$5.42
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: $135.68
Costs to cover: 0.210%
Break-even: 1.1 days

Slippage unknown: Hyperliquid: live order book, 8 min ago; BloFin: live order book, 24 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, 8 min ago	7.11 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 24 min ago	3.25 bp	34.2 bp −$34	doesn't fit	doesn't fit	doesn't fit

GRIFFAIN on 12 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 GRIFFAINRUSDPERP	0.0000%	1h	0.01177	−24.060%	—	—	—	as long as short
Bybit GRIFFAINUSDT	+0.0100%	4h	0.01549	−0.045%	$731K	$401K	25x	as long as short
Gate GRIFFAIN_USDT	+0.0100%	4h	0.01545	−0.310%	$424K	$81K	10x	as long as short
KuCoin GRIFFAINUSDTM	+0.0100%	4h	0.01545	−0.323%	$487K	$49K	20x	as long as short
Hyperliquid GRIFFAINlong	+0.0304%	1h	0.01550	long leg	$1.2M	$97K	3x
Bitget GRIFFAINUSDT	+0.1000%	4h	0.01547	−0.194%	$365K	$252K	10x	as long as short
BingX GRIFFAIN-USDT	+0.1026%	4h	0.01551	+0.039%	—	$6.5M	—	as long as short
BloFin GRIFFAIN-USDTshort	+0.1076%	4h	0.01548	−0.103%	$273K	$11K	20x
MEXC GRIFFAIN_USDT	+0.1106%	4h	0.01548	−0.129%	$305K	$112K	100x	as long as short
Binance GRIFFAINUSDT	+0.1117%	4h	0.01547	−0.212%	$4.1M	$1.7M	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GRIFFAINUSDT	+0.1268%	4h	0.01545	−0.290%	$15K	$31K	5x	as long as short
Kraken Futures PF_GRIFFAINUSD	+1.8801%	1h	0.01561	+0.737%	$18K	$26K	10x	as long as short