Funding arb · Price arb /

STABLE

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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 −0.005%

Price spread now: Hyperliquid against Binance+0.050%7-day average +0.009% · you sell dearer than you buy

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

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.284%−$28 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now +0.050%, 7d avg +0.009%

Together, before fees−0.310%+ Points / potential airdropHyperliquid: Season 2 · farm board−$31 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 0.042% dearer against Binance than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance STABLEUSDT	0.02470	0.0100	pay 0.0050% / 4h	2h 42m	$2.4M	$2.7M	75x
Short	Hyperliquid STABLE	0.02471	0.0100	get 0.0013% / 1h	42m 15s	$872K	$235K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.050%Rate

Funding earned: $0
Price spread: +0.050% → +0.009%: $4.15
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$14.85
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 8 min ago; Hyperliquid: live order book, 43 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 Binance live order book, 8 min ago	2.02 bp	19.6 bp −$20	95.2 bp −$952	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 43 min ago	6.87 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit

STABLE on 15 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
Aster STABLEUSDT	−0.0294%	4h	0.02470	+0.008%	$19K	$7K	20x	as long as short
Lighter STABLE	+0.0096%	1h	0.02489	+0.787%	$114K	$3K	3x	as long as short
Hyperliquid STABLEshort	+0.0100%	1h	0.02471	+0.050%	$872K	$235K	3x
Binance STABLEUSDTlong	+0.0100%	4h	0.02470	long leg	$2.4M	$2.7M	75x
Bybit STABLEUSDT	+0.0100%	4h	0.02474	+0.188%	$1.5M	$819K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02474	+0.176%	$204K	$417K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02471	+0.054%	$171K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02470	+0.014%	$659K	$157K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02480	+0.419%	$175K	$27K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02474	+0.176%	$291K	$116K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02474	+0.176%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02474	+0.176%	$145K	$51K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02471	+0.042%	$1K	$644K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02469	−0.011%	$12K	$175K	10x	as long as short
BloFin STABLE-USDT	+0.0127%	4h	0.02469	−0.027%	$115K	$8K	75x	as long as short