Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0024%/8h= +2.7% APRpaid last 24h −0.002%

Price spread now: BloFin against Hyperliquid+0.068%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$670.674% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)−0.200%−$20 · spread now +0.068%, 7d avg −0.025%

Together, before fees−0.220%+ Points / potential airdropHyperliquid: Season 2 · farm board−$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BloFin is 0.093% dearer against Hyperliquid than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRB	19.104	0.0100	pay 0.0013% / 1h	40m 41s	$486K	$226K	3x
Short	BloFin TRB-USDT	19.117	0.0124	get 0.0062% / 4h	1h 40m	$360K	$174K	50x

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

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 BloFinbpOrdersPrice spread, now +0.068%Rate

Funding earned: $5.12
Price spread: +0.068% → −0.025%: $9.32
Slippage, 4 orders: −$46.41
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$52.97
Costs to cover: 0.674%
Break-even: 79.4 days

Slippage from Hyperliquid: live order book, 39 min ago; BloFin: live order book, 39 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, 39 min ago	2.87 bp	13.6 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 39 min ago	0.52 bp	16.2 bp −$16	37.8 bp −$378	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	19.104	long leg	$486K	$226K	3x
Aster TRBUSDT	+0.0100%	4h	19.083	−0.110%	$10K	$21K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.106	+0.010%	$5.0M	$10.2M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.136	+0.168%	$6.3M	$1.9M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.130	+0.136%	$4.4M	$4.6M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.102	−0.010%	$14.5M	$897K	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.105	+0.005%	$1.1M	$304K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.113	+0.047%	$1.2M	$1.3M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.118	+0.073%	—	$16.5M	—	as long as short
Variational Omni TRB	+0.0100%	4h	19.120	+0.083%	$14K	$3K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin TRB-USDTshort	+0.0124%	4h	19.117	+0.068%	$360K	$174K	50x
Gate TRB_USDT	+0.0220%	4h	19.110	+0.031%	$572K	$1.5M	50x	as long as short
Kraken Futures PF_TRBUSD	+0.1239%	1h	19.123	+0.101%	$102K	$98K	10x	as long as short