Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Gate+0.093%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.093% dearer against Gate than usual: you sell high and buy low, +$9 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate INIT_USDT	0.08141	0.0100	pay 0.0100% / 8h	1h 25m	$83K	$56K	25x
Short	Hyperliquid INIT	0.08149	0.0100	get 0.0013% / 1h	25m 00s	$296K	$233K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.093%Rate

Funding earned: $0
Price spread: +0.093% → 0.000%: $9.34
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$14.66
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Gate: no order-book sample; Hyperliquid: live order book, 45 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 Gate no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 45 min ago	1.23 bp	30.1 bp −$30	doesn't fit	doesn't fit	doesn't fit

Gate: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

INIT on 13 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 INITshort	+0.0100%	1h	0.08149	+0.093%	$296K	$233K	3x
Aster INITUSDT	+0.0100%	4h	0.08142	+0.012%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08157	+0.201%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08139	−0.025%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08154	+0.160%	$133K	$631K	10x	as long as short
Gate INIT_USDTlong	+0.0100%	8h	0.08141	long leg	$83K	$56K	25x
MEXC INIT_USDT	+0.0100%	4h	0.08156	+0.184%	$452K	$218K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08144	+0.037%	$324K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08148	+0.086%	$425K	$310K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08140	−0.012%	—	$6.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08133	−0.092%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0128%	4h	0.08150	+0.111%	$153K	$109K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0386%	1h	0.08157	+0.200%	$6K	$17K	10x	as long as short