Funding arb · Price arb /

UMA

all UMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0007%/8h= +0.8% APRpaid last 24h +0.001%

Price spread now: BloFin against Hyperliquid+0.230%107s7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on BloFin

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BloFin is 0.230% dearer against Hyperliquid than usual: you sell high and buy low, +$23 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 107 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	Hyperliquid UMA	0.4037	0.0100	pay 0.0013% / 1h	43m 24s	$213K	$68K	3x
Short	BloFin UMA-USDT	0.4046	0.0107	get 0.0053% / 4h	2h 43m	$74K	$7K	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 +0.230%Rate

Funding earned: $1.47
Price spread: +0.230% → 0.000%: $23.04
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: $3.51
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 26 min ago; BloFin: no order-book sample. 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 Hyperliquid live order book, 26 min ago	1.98 bp	28.3 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell BloFin no order-book sample	—	—	—	—	—

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
Hyperliquid UMAlong	+0.0100%	1h	0.4037	long leg	$213K	$68K	3x
Aster UMAUSDT	+0.0100%	4h	0.4036	−0.019%	$24K	$769	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4032	−0.109%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4037	+0.007%	$672K	$151K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4037	+0.007%	$314K	$238K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4039	+0.057%	$78K	$43K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4031	−0.141%	$250K	$162K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4036	−0.017%	$155K	$62K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4044	+0.181%	$975K	$68K	50x	as long as short
BingX UMA-USDT	+0.0100%	4h	0.4034	−0.067%	—	$2.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni UMA	+0.0100%	4h	0.4049	+0.300%	$5K	$7	—	as long as short
BloFin UMA-USDTshort	+0.0107%	4h	0.4046	+0.230%	$74K	$7K	50x
Kraken Futures PF_UMAUSD	+0.1846%	1h	0.4047	+0.256%	$14K	$6K	10x	as long as short