Funding arb · Price arb /

GRIFFAIN

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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 −0.027%

Price spread now: KuCoin against Hyperliquid−0.286%7-day average −0.326% · you buy dearer than you sell

Net, funding: paid 7d − costs−$318as in the Funding arb table

Net, price: spread back to 7d avg − costs−$306as in the Price arb table

costs, in and out, $10k−$3103.105% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now −0.286%, 7d avg −0.326%

Together, before fees−0.091%+ Points / potential airdropHyperliquid: Season 2 · farm board−$9 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 0.040% dearer against Hyperliquid than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.326%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid GRIFFAIN	0.01573	0.0100	pay 0.0013% / 1h	27m 44s	$1.2M	$100K	3x
Short	KuCoin GRIFFAINUSDTM	0.01569	0.0100	get 0.0050% / 4h	27m 44s	$480K	$52K	20x

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 −0.286%Rate

Funding earned: $0
Price spread: −0.286% → −0.326%: $4
Slippage, 4 orders: −$289.47
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$306.47
Costs to cover: 3.105%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; KuCoin: live order book, 55 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, 3 min ago	12.99 bp	42.6 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 55 min ago	12.75 bp	94.9 bp −$95	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	−25.192%	—	—	—	as long as short
Hyperliquid GRIFFAINlong	+0.0100%	1h	0.01573	long leg	$1.2M	$100K	3x
Bybit GRIFFAINUSDT	+0.0100%	4h	0.01571	−0.146%	$772K	$459K	25x	as long as short
Gate GRIFFAIN_USDT	+0.0100%	4h	0.01571	−0.133%	$433K	$84K	10x	as long as short
KuCoin GRIFFAINUSDTMshort	+0.0100%	4h	0.01569	−0.286%	$480K	$52K	20x
Bitget GRIFFAINUSDT	+0.0248%	4h	0.01571	−0.159%	$377K	$278K	10x	as long as short
Binance GRIFFAINUSDT	+0.0594%	4h	0.01572	−0.101%	$4.2M	$1.8M	20x	as long as short
BingX GRIFFAIN-USDT	+0.0606%	4h	0.01571	−0.146%	—	$6.5M	—	as long as short
MEXC GRIFFAIN_USDT	+0.0610%	4h	0.01570	−0.222%	$292K	$115K	100x	as long as short
BloFin GRIFFAIN-USDT	+0.0635%	4h	0.01577	+0.248%	$280K	$12K	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	+0.0755%	4h	0.01574	+0.043%	$15K	$20K	5x	as long as short
Kraken Futures PF_GRIFFAINUSD	+1.5693%	1h	0.01577	+0.206%	$18K	$21K	10x	as long as short