Funding arb · Price arb /

HIMS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0225%/8h= −24.7% APRpaid last 24h −0.008%

Price spread now: Gate against tradeXYZ−0.044%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$289as in the Funding arb table

Net, price: spread back to 7d avg − costs−$300as in the Price arb table

costs, in and out, $10k−$2932.927% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.044%, 7d avg +0.033%

Together, before fees+0.031%+ Points / potential airdroptradeXYZ: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Gate is 0.077% cheaper against tradeXYZ than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.039% in total (about 2.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:HIMS	29.284	0.0225	pay 0.0028% / 1h	46m 28s	$3.4M	$1.6M	10x
Short	Gate HIMS_USDT	29.271	0	get 0.0000% / 8h	2h 46m	$506K	$198K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against tradeXYZ. 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 tradeXYZbpFee GatebpOrdersPrice spread, now −0.044%Rate

Funding earned: −$47.35
Price spread: −0.044% → +0.033%: −$7.74
Slippage, 4 orders: −$259.73
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$347.82
Costs to cover: 2.927%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 2 min ago; Gate: live order book, 64 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 tradeXYZ live order book, 2 min ago	1.20 bp	14.9 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 64 min ago	12.66 bp	53.1 bp −$53	doesn't fit	doesn't fit	doesn't fit

HIMS 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
Nado HIMS-PERP	−0.0113%	1h	29.278	−0.021%	$2K	$2K	10x	as long as short
QFEX HIMS-USD	−0.0004%	1h	29.250	−0.116%	$1.3M	$528K	10x	as long as short
Aster HIMSUSDT	0.0000%	8h	29.276	−0.027%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.272	−0.041%	$969K	$2.6M	20x	as long as short
Bybit HIMSUSDT	0.0000%	8h	29.290	+0.020%	$295K	$128K	25x	as long as short
OKX HIMS-USDT-SWAP	0.0000%	8h	29.230	−0.184%	$287K	$174K	20x	as long as short
Gate HIMS_USDTshort	0.0000%	8h	29.271	−0.044%	$506K	$198K	25x
Variational Omni HIMS	0.0000%	8h	29.275	−0.031%	$98K	$78K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.267	−0.058%	—	$2.4M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.277	−0.024%	$7K	$39K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest HIMS-USD-PERP	+0.0046%	1h	29.250	−0.116%	—	—	10x	as long as short
KuCoin HIMSUSDTM	+0.0100%	8h	29.260	−0.082%	$134K	$37K	20x	as long as short
Injective HIMS/USDC PERP	+0.0220%	1h	29.520	+0.806%	$13K	$22K	5.5x	as long as short
tradeXYZ xyz:HIMSlong	+0.0225%	1h	29.284	long leg	$3.4M	$1.6M	10x