Funding arb · Price arb /

TURBO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Binance+0.128%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$930.930% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.128%−$13 · spread now +0.128%, 7d avg +0.083%

Together, before fees−0.127%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 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: Hyperliquid is 0.045% dearer against Binance than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.083%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TURBOUSDT	0.001059	0.0100	pay 0.0050% / 4h	52m 46s	$2.9M	$5.8M	50x
Short	Hyperliquid TURBO	0.001060	0.0100	get 0.0013% / 1h	52m 46s	$315K	$142K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.128%Rate

Funding earned: $0
Price spread: +0.128% → +0.083%: $4.49
Slippage, 4 orders: −$73.98
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$88.49
Costs to cover: 0.930%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Hyperliquid: live order book, 37 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 Binance live order book, 15 min ago	0.94 bp	25.2 bp −$25	125.5 bp −$1,255	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 37 min ago	4.70 bp	13.4 bp −$13	doesn't fit	doesn't fit	doesn't fit

TURBO on 14 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
Kraken Futures PF_TURBOUSD	−0.0511%	1h	0.001059	+0.069%	$68K	$28K	20x	as long as short
Injective TURBO/USDC PERP	+0.0033%	1h	0.001069	+0.978%	$83	$4	5.5x	as long as short
BloFin TURBO-USDT	+0.0086%	4h	0.001059	+0.080%	$158K	$427K	75x	as long as short
Hyperliquid TURBOshort	+0.0100%	1h	0.001060	+0.128%	$315K	$142K	3x
Aster TURBOUSDT	+0.0100%	4h	0.001060	+0.158%	$9K	$20K	10x	as long as short
Binance TURBOUSDTlong	+0.0100%	4h	0.001059	long leg	$2.9M	$5.8M	50x
Bybit 1000TURBOUSDT	+0.0100%	4h	0.001060	+0.137%	$393K	$737K	25x	as long as short
OKX TURBO-USDT-SWAP	+0.0100%	4h	0.001056	−0.241%	$918K	$1.9M	20x	as long as short
Gate TURBO_USDT	+0.0100%	4h	0.001060	+0.146%	$401K	$253K	25x	as long as short
MEXC TURBO_USDT	+0.0100%	4h	0.001058	−0.080%	$5.4M	$559K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TURBOUSDTM	+0.0100%	4h	0.001059	+0.080%	$1.9M	$805K	20x	as long as short
Bitget TURBOUSDT	+0.0100%	4h	0.001060	+0.128%	$1.0M	$488K	25x	as long as short
BingX TURBO-USDT	+0.0100%	4h	0.001061	+0.250%	—	$7.7M	—	as long as short
Extended TURBO-USD	+0.0104%	1h	0.001059	+0.026%	$402	$168K	5x	as long as short