Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0038%/8h= −4.1% APRpaid last 24h 0.000%

Price spread now: BloFin against Hyperliquid+0.036%7-day average +0.005% · you sell dearer than you buy

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

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.279%+$28 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now +0.036%, 7d avg +0.005%

Together, before fees+0.259%+ Points / potential airdropHyperliquid: Season 2 · farm board+$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.031% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.036% now, against its 7-day average of +0.005%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.7 days. Mind the row above: over the last 7 days funding on this pair paid +0.279%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid STABLE	0.02488	0.0100	pay 0.0013% / 1h	56m 41s	$877K	$210K	3x
Short	BloFin STABLE-USDT	0.02489	0.0062	get 0.0031% / 4h	2h 56m	$116K	$7K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hyperliquid. 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 HyperliquidbpFee BloFinbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$7.9
Price spread: +0.036% → +0.005%: $3.1
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$25.8
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 63 min ago; BloFin: live order book, 58 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 Hyperliquid live order book, 63 min ago	2.58 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 58 min ago	3.99 bp	17.7 bp −$18	51.3 bp −$513	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
BloFin STABLE-USDTshort	+0.0062%	4h	0.02489	+0.036%	$116K	$7K	75x
Lighter STABLE	+0.0096%	1h	0.02503	+0.595%	$115K	$8K	3x	as long as short
Hyperliquid STABLElong	+0.0100%	1h	0.02488	long leg	$877K	$210K	3x
Aster STABLEUSDT	+0.0100%	4h	0.02489	+0.034%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02487	−0.038%	$2.5M	$3.0M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02489	+0.036%	$1.5M	$769K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02488	−0.004%	$201K	$428K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02490	+0.076%	$174K	$69K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02488	−0.004%	$613K	$172K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02498	+0.398%	$185K	$30K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02489	+0.036%	$291K	$96K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02489	+0.036%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02492	+0.159%	$146K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02487	−0.036%	$2K	$806K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02486	−0.065%	$14K	$146K	10x	as long as short