Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Bitget+0.039%7-day average −0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1111.114% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.244%−$24 on $10k

Price spread, last 4 days (all we have)−0.133%−$13 · spread now +0.039%, 7d avg −0.059%

Together, before fees−0.378%+ Points / potential airdropHyperliquid: Season 2 · farm board−$38 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: Hyperliquid is 0.098% dearer against Bitget than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NOTUSDT	0.0005068	0.0100	pay 0.0050% / 4h	2h 52m	$669K	$407K	50x
Short	Hyperliquid NOT	0.0005070	0.0100	get 0.0013% / 1h	52m 32s	$370K	$51K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0
Price spread: +0.039% → −0.059%: $9.82
Slippage, 4 orders: −$90.41
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$101.59
Costs to cover: 1.114%
Break-even: never at this rate

Slippage from Bitget: live order book, 13 min ago; Hyperliquid: live order book, 57 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 Bitget live order book, 13 min ago	8.79 bp	33.6 bp −$34	174.9 bp −$1,749	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 57 min ago	9.81 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit

NOT on 16 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
Variational Omni NOT	−0.0211%	4h	0.0005034	−0.667%	$71K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.828%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0071%	4h	0.0005046	−0.434%	$112K	$17K	50x	as long as short
Bybit NOTUSDT	+0.0073%	4h	0.0005062	−0.118%	$2.1M	$864K	25x	as long as short
KuCoin NOTUSDTM	+0.0088%	4h	0.0005053	−0.296%	$462K	$135K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005073	+0.105%	$11K	$5K	3x	as long as short
Hyperliquid NOTshort	+0.0100%	1h	0.0005070	+0.039%	$370K	$51K	3x
Aster NOTUSDT	+0.0100%	4h	0.0005060	−0.166%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005069	+0.020%	$2.1M	$3.2M	50x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005066	−0.039%	$624K	$637K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NOT_USDT	+0.0100%	4h	0.0005051	−0.335%	$142K	$81K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005067	−0.020%	$1.3M	$465K	200x	as long as short
Bitget NOTUSDTlong	+0.0100%	4h	0.0005068	long leg	$669K	$407K	50x
BingX NOT-USDC	+0.0100%	4h	0.0005057	−0.217%	—	$720K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005066	−0.044%	$4K	$491	5x	as long as short
Kraken Futures PF_NOTUSD	+0.0202%	1h	0.0005080	+0.246%	$50K	$10K	10x	as long as short