Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Hyperliquid−0.021%7-day average +0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$850.854% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.203%+$20 · spread now −0.021%, 7d avg +0.049%

Together, before fees+0.201%+ Points / potential airdropHyperliquid: Season 2 · farm board+$20 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: Bitget is 0.070% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRB	19.128	0.0100	pay 0.0013% / 1h	44m 24s	$487K	$226K	3x
Short	Bitget TRBUSDT	19.124	0.0100	get 0.0050% / 4h	1h 44m	$1.2M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → +0.049%: −$7.01
Slippage, 4 orders: −$64.44
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$92.45
Costs to cover: 0.854%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 35 min ago; Bitget: live order book, 2 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 Hyperliquid live order book, 35 min ago	2.87 bp	13.6 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	3.93 bp	28.2 bp −$28	93.9 bp −$939	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
Hyperliquid TRBlong	+0.0100%	1h	19.128	long leg	$487K	$226K	3x
Aster TRBUSDT	+0.0100%	4h	19.096	−0.170%	$9K	$21K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.129	+0.005%	$5.0M	$10.2M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.156	+0.146%	$6.3M	$1.9M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.140	+0.063%	$4.5M	$4.6M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.127	−0.005%	$14.5M	$897K	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.100	−0.146%	$1.1M	$308K	50x	as long as short
Bitget TRBUSDTshort	+0.0100%	4h	19.124	−0.021%	$1.2M	$1.3M	50x
BingX TRB-USDT	+0.0100%	4h	19.121	−0.037%	—	$16.5M	—	as long as short
Variational Omni TRB	+0.0100%	4h	19.120	−0.042%	$14K	$3K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRB_USDT	+0.0150%	4h	19.110	−0.094%	$574K	$1.5M	50x	as long as short
BloFin TRB-USDT	+0.0156%	4h	19.091	−0.193%	$359K	$174K	50x	as long as short
Kraken Futures PF_TRBUSD	+0.1239%	1h	19.124	−0.023%	$102K	$98K	10x	as long as short