Funding arb · Price arb /

TURBO

all TURBO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h +0.002%

Price spread now: Hyperliquid against BloFin−0.718%47s7-day average +0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$810.806% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.845%+$84 · spread now −0.718%, 7d avg +0.086%

Together, before fees+0.838%+ Points / potential airdropHyperliquid: Season 2 · farm board+$84 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Hyperliquid is 0.804% cheaper against BloFin than usual: you would sell low and buy high (−$80 if the spread goes back to its 7-day average of +0.086%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TURBO-USDT	0.001072	0.0151	pay 0.0076% / 4h	3h 10m	$159K	$457K	75x
Short	Hyperliquid TURBO	0.001064	0.0100	get 0.0013% / 1h	10m 25s	$321K	$164K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now −0.718%Rate

Funding earned: −$10.75
Price spread: −0.718% → +0.086%: −$80.43
Slippage, 4 orders: −$59.57
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$171.75
Costs to cover: 0.806%
Break-even: never at this rate

Slippage from BloFin: live order book, 20 min ago; Hyperliquid: live order book, 69 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 BloFin live order book, 20 min ago	2.31 bp	14.4 bp −$14	55.5 bp −$555	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 69 min ago	4.73 bp	20.7 bp −$21	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	−0.0192%	1h	0.001072	−0.003%	$68K	$28K	20x	as long as short
Injective TURBO/USDC PERP	+0.0033%	1h	0.001069	−0.252%	$83	$4	5.5x	as long as short
Hyperliquid TURBOshort	+0.0100%	1h	0.001064	−0.718%	$321K	$164K	3x
Aster TURBOUSDT	+0.0100%	4h	0.001063	−0.838%	$9K	$20K	10x	as long as short
Binance TURBOUSDT	+0.0100%	4h	0.001063	−0.844%	$3.0M	$6.1M	50x	as long as short
Bybit 1000TURBOUSDT	+0.0100%	4h	0.001062	−0.896%	$398K	$751K	25x	as long as short
OKX TURBO-USDT-SWAP	+0.0100%	4h	0.001063	−0.840%	$903K	$2.1M	20x	as long as short
Gate TURBO_USDT	+0.0100%	4h	0.001071	−0.037%	$389K	$293K	25x	as long as short
MEXC TURBO_USDT	+0.0100%	4h	0.001062	−0.877%	$5.5M	$602K	20x	as long as short
KuCoin TURBOUSDTM	+0.0100%	4h	0.001062	−0.868%	$1.9M	$814K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TURBOUSDT	+0.0100%	4h	0.001063	−0.812%	$1.1M	$543K	25x	as long as short
BingX TURBO-USDT	+0.0100%	4h	0.001070	−0.140%	—	$7.7M	—	as long as short
Extended TURBO-USD	+0.0104%	1h	0.001071	−0.103%	$460	$229K	5x	as long as short
BloFin TURBO-USDTlong	+0.0151%	4h	0.001072	long leg	$159K	$457K	75x