Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0176%/8h= −19.3% APRpaid last 24h −0.019%

Price spread now: Hyperliquid against Gate+0.234%7-day average −0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$740.740% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.344%−$34 · spread now +0.234%, 7d avg −0.057%

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

The price spread pays, funding is against you. Hyperliquid is 0.291% dearer against Gate than usual: you sell high and buy low (spread +0.234% now, against its 7-day average of −0.057%): +$29 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TRB_USDT	19.200	0.0276	pay 0.0138% / 4h	32m 25s	$574K	$1.9M	50x
Short	Hyperliquid TRB	19.245	0.0100	get 0.0013% / 1h	32m 25s	$481K	$259K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.234%Rate

Funding earned: −$36.96
Price spread: +0.234% → −0.057%: $29.15
Slippage, 4 orders: −$49.97
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$81.79
Costs to cover: 0.740%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Hyperliquid: live order book, 67 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 Gate live order book, 5 min ago	5.22 bp	13.8 bp −$14	26.1 bp −$261	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 67 min ago	2.32 bp	23.2 bp −$23	doesn't fit	doesn't fit	doesn't fit

TRB 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
BloFin TRB-USDT	+0.0074%	4h	19.173	−0.141%	$367K	$171K	50x	as long as short
Hyperliquid TRBshort	+0.0100%	1h	19.245	+0.234%	$481K	$259K	3x
Aster TRBUSDT	+0.0100%	4h	19.212	+0.061%	$10K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.238	+0.199%	$5.2M	$10.9M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.255	+0.286%	$6.3M	$2.1M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.250	+0.260%	$4.5M	$5.1M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.236	+0.188%	$15.4M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.188	−0.062%	$1.2M	$309K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.228	+0.146%	$1.3M	$1.5M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.226	+0.135%	—	$16.2M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRB	+0.0100%	4h	19.123	−0.400%	$15K	$4K	—	as long as short
Gate TRB_USDTlong	+0.0276%	4h	19.200	long leg	$574K	$1.9M	50x
Kraken Futures PF_TRBUSD	+0.1097%	1h	19.317	+0.607%	$103K	$99K	10x	as long as short