Funding arb · Price arb /

UMA

all UMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0059%/8h= +6.4% APRpaid last 24h −0.001%

Price spread now: Hyperliquid against BloFin+0.096%87s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.096% dearer against BloFin than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 87 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 UMA-USDT	0.4054	0.0041	pay 0.0021% / 4h	3h 33m	$75K	$7K	50x
Short	Hyperliquid UMA	0.4058	0.0100	get 0.0013% / 1h	33m 37s	$214K	$67K	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 +0.096%Rate

Funding earned: $12.34
Price spread: +0.096% → 0.000%: $9.62
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $0.96
Costs to cover: 0.210%
Break-even: 6.5 days

Slippage unknown: BloFin: no order-book sample; Hyperliquid: live order book, 46 min ago. Net counts fees only.

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 no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 46 min ago	2.59 bp	36.2 bp −$36	doesn't fit	doesn't fit	doesn't fit

BloFin: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

UMA 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 UMA-USDTlong	+0.0041%	4h	0.4054	long leg	$75K	$7K	50x
Hyperliquid UMAshort	+0.0100%	1h	0.4058	+0.096%	$214K	$67K	3x
Aster UMAUSDT	+0.0100%	4h	0.4056	+0.043%	$25K	$769	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4054	−0.004%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4055	+0.025%	$672K	$149K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4055	+0.025%	$315K	$242K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4056	+0.049%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4054	0.000%	$254K	$166K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4056	+0.049%	$156K	$62K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4057	+0.074%	$976K	$64K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDT	+0.0100%	4h	0.4055	+0.025%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4058	+0.093%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2088%	1h	0.4061	+0.174%	$14K	$6K	10x	as long as short