Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Gate against Hyperliquid−0.040%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Gate

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: Gate is 0.040% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 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	Hyperliquid INIT	0.08172	0.0100	pay 0.0013% / 1h	19m 55s	$297K	$234K	3x
Short	Gate INIT_USDT	0.08169	0.0100	get 0.0100% / 8h	2h 19m	$83K	$56K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.040%Rate

Funding earned: $0
Price spread: −0.040% → 0.000%: −$4.04
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$28.04
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 64 min ago; Gate: no order-book sample. 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, 64 min ago	1.89 bp	38.1 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Gate no order-book sample	—	—	—	—	—

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 INITlong	+0.0100%	1h	0.08172	long leg	$297K	$234K	3x
Aster INITUSDT	+0.0100%	4h	0.08173	+0.013%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08177	+0.058%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08162	−0.126%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08172	−0.004%	$132K	$630K	10x	as long as short
Gate INIT_USDTshort	+0.0100%	8h	0.08169	−0.040%	$83K	$56K	25x
MEXC INIT_USDT	+0.0100%	4h	0.08176	+0.045%	$444K	$216K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08176	+0.045%	$325K	$55K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08171	−0.016%	$427K	$311K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08171	−0.016%	—	$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	0.08162	−0.132%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0118%	4h	0.08170	−0.028%	$154K	$110K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0535%	1h	0.08176	+0.046%	$6K	$17K	10x	as long as short