Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.001%

Price spread now: Orderly against Hyperliquid−0.077%7-day average −0.067% · you buy dearer than you sell

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

Long on Hyperliquid Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 3 days (all we have)+0.287%+$29 · spread now −0.077%, 7d avg −0.067%

Together, before fees+0.327%+ Points / potential airdropHyperliquid: Season 2 · farm board+$33 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TIA	0.4305	0.0100	pay 0.0013% / 1h	39m 45s	$4.2M	$1.5M	5x
Short	Orderly PERP_TIA_USDC	0.4302	0.0099	get 0.0049% / 4h	2h 39m	$5K	$359K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.077%Rate

Funding earned: −$0.25
Price spread: −0.077% → −0.067%: −$0.92
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$16.17
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 2 min ago; Orderly: 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, 2 min ago	0.93 bp	14.5 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

TIA on 27 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
Bybit TIAUSDT	−0.0550%	4h	0.4297	−0.193%	$9.3M	$13.0M	50x	as long as short
Kraken Futures PF_TIAUSD	−0.0391%	1h	0.4304	−0.039%	$354K	$239K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	−0.0214%	1h	0.4304	−0.030%	$30K	$27K	25x	as long as short
ApeX Omni TIAUSDT	−0.0196%	1h	0.4299	−0.146%	$48K	$234K	50x	as long as short
Gate TIA_USDT	−0.0128%	4h	0.4299	−0.146%	$992K	$1.8M	75x	as long as short
OKX TIA-USDT-SWAP	−0.0033%	4h	0.4297	−0.193%	$2.7M	$5.7M	50x	as long as short
Backpack TIA_USDC_PERP	−0.0028%	1h	0.4303	−0.056%	$102K	$153K	10x	as long as short
KuCoin TIAUSDTM	−0.0026%	4h	0.4299	−0.146%	$4.1M	$8.6M	50x	as long as short
Variational Omni TIA	−0.0018%	4h	0.4296	−0.216%	$96K	$81K	—	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4305	−0.007%	$1K	—	150x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0095%	4h	0.4306	+0.006%	$34K	$272K	10x	as long as short
Lighter TIA	+0.0096%	1h	0.4306	+0.014%	$127K	$353K	10x	as long as short
Orderly PERP_TIA_USDCshort	+0.0099%	4h	0.4302	−0.077%	$5K	$359K	10x
Hyperliquid TIAlong	+0.0100%	1h	0.4305	long leg	$4.2M	$1.5M	5x
Binance TIAUSDT	+0.0100%	4h	0.4300	−0.130%	$14.0M	$41.1M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4302	−0.077%	$9.1M	$5.6M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4302	−0.077%	$4.4M	$3.5M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4299	−0.146%	—	$101.0M	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4302	−0.077%	$73K	$15K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4300	−0.134%	$58K	$169K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4302	−0.077%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0178%	1h	0.4299	−0.147%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0200%	1h	0.4322	+0.388%	$48K	$71K	50x	as long as short
Injective TIA/USDC PERP	+0.0210%	1h	0.4311	+0.132%	$26K	$10K	12x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4299	−0.146%	$995K	$511K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0456% / S −0.3505%	1h	0.4304	−0.033%	$35K	—	100x	as long as short
dYdX TIA-USD	+0.0850%	1h	0.4304	−0.034%	$51K	$59	10x	as long as short