Funding arb · Price arb /

HYPER

all HYPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0049%/8h= +5.3% APRpaid last 24h +0.005%

Price spread now: Hyperliquid against BloFin+0.205%7-day average +0.041% · you sell dearer than you buy

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

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.163%−$16 · spread now +0.205%, 7d avg +0.041%

Together, before fees−0.166%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.164% dearer against BloFin than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin HYPER-USDT	0.07417	0.0051	pay 0.0026% / 4h	1h 24m	$189K	$22K	50x
Short	Hyperliquid HYPER	0.07432	0.0100	get 0.0013% / 1h	24m 47s	$71K	$119K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.205%Rate

Funding earned: $10.25
Price spread: +0.205% → +0.041%: $16.37
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $5.62
Costs to cover: 0.210%
Break-even: 3.2 days

Slippage unknown: BloFin: live order book, 50 min ago; Hyperliquid: live order book, 44 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 BloFin live order book, 50 min ago	1.34 bp	21.7 bp −$22	51.4 bp −$514	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 44 min ago	1.55 bp	19.2 bp −$19	doesn't fit	doesn't fit	doesn't fit

HYPER on 10 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
KuCoin HYPERUSDTM	−0.0142%	4h	0.07409	−0.108%	$127K	$93K	30x	as long as short
Gate HYPER_USDT	−0.0008%	4h	0.07420	+0.040%	$90K	$46K	50x	as long as short
BloFin HYPER-USDTlong	+0.0051%	4h	0.07417	long leg	$189K	$22K	50x
Hyperliquid HYPERshort	+0.0100%	1h	0.07432	+0.205%	$71K	$119K	3x
Aster HYPERUSDT	+0.0100%	4h	0.07426	+0.122%	$20K	$4K	5x	as long as short
Binance HYPERUSDT	+0.0100%	4h	0.07429	+0.159%	$2.0M	$2.1M	50x	as long as short
Bybit HYPERUSDT	+0.0100%	4h	0.07426	+0.121%	$1.2M	$699K	25x	as long as short
MEXC HYPER_USDT	+0.0100%	4h	0.07426	+0.121%	$255K	$130K	20x	as long as short
Bitget HYPERUSDT	+0.0100%	4h	0.07426	+0.121%	$310K	$259K	50x	as long as short
Variational Omni HYPER	+0.0100%	4h	0.07425	+0.102%	$7K	$1K	—	as long as short