Funding arb · Price arb /

HEMI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.008%

Price spread now: Bybit against Binance−0.091%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$199as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$1801.804% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.181%−$18 on $10k

Price spread, last 7 days+0.154%+$15 · spread now −0.091%, 7d avg +0.022%

Together, before fees−0.028%−$3 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: Bybit is 0.114% cheaper against Binance than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HEMIUSDT	0.006421	0.0100	pay 0.0050% / 4h	2h 38m	$6.2M	$10.1M	20x
Short	Bybit HEMIUSDT	0.006415	0.0100	get 0.0050% / 4h	2h 38m	$1.7M	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.091%Rate

Funding earned: $0
Price spread: −0.091% → +0.022%: −$11.35
Slippage, 4 orders: −$159.4
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$191.76
Costs to cover: 1.804%
Break-even: never at this rate

Slippage from Binance: live order book, 1 min ago; Bybit: live order book, 3 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 Binance live order book, 1 min ago	0.78 bp	19.7 bp −$20	139.6 bp −$1,396	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.56 bp	64.9 bp −$65	476.3 bp −$4,763	doesn't fit	doesn't fit

HEMI 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
Hyperliquid HEMI	+0.0100%	1h	0.006426	+0.080%	$975K	$268K	3x	as long as short
Aster HEMIUSDT	+0.0100%	4h	0.006419	−0.027%	$74K	$30K	5x	as long as short
Binance HEMIUSDTlong	+0.0100%	4h	0.006421	long leg	$6.2M	$10.1M	20x
Bybit HEMIUSDTshort	+0.0100%	4h	0.006415	−0.091%	$1.7M	$1.4M	25x
Gate HEMI_USDT	+0.0100%	4h	0.006421	+0.002%	$491K	$229K	20x	as long as short
MEXC HEMI_USDT	+0.0100%	4h	0.006424	+0.049%	$1.6M	$281K	50x	as long as short
KuCoin HEMIUSDTM	+0.0100%	4h	0.006415	−0.091%	$764K	$1.6M	20x	as long as short
BingX HEMI-USDT	+0.0100%	4h	0.006423	+0.033%	—	$1.4M	—	as long as short
Variational Omni HEMI	+0.0100%	4h	0.006414	−0.106%	$22K	$4K	—	as long as short
SunX HEMI-USDT	+0.0100%	4h	0.006565	+2.245%	$1K	$1.1M	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended HEMI-USD	+0.0104%	1h	0.006417	−0.062%	$17K	$516	5x	as long as short
BloFin HEMI-USDT	+0.0138%	4h	0.006423	+0.033%	$344K	$65K	20x	as long as short