Funding arb · Price arb /

HUT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0189%/8h= +20.7% APRnext payment +$1.89 per $10,000 · paid last 24h —

Price spread now: BloFin against Phemex−0.154%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 19 hours (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.154% cheaper against Phemex than usual: you would sell low and buy high (spread −0.154% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 2.7 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex HUTUSDT	103.84	0	get 0.0000% / 8h	5h 05m	$106K	$126K	10x
Short	BloFin HUT-USDT	103.68	0.0189	get 0.0189% / 8h	5h 05m	$46K	$28K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Phemex. 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 PhemexbpFee BloFinbpOrdersPrice spread, now −0.154%Rate

Funding earned: $39.78
Price spread: −0.154% → 0.000%: −$15.41
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: $0.37
Costs to cover: 0.240%
Break-even: 6.9 days

Slippage unknown: Phemex: live order book, 57 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 Phemex live order book, 57 min ago	9.18 bp	49.1 bp −$49	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.

HUT on 10 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
QFEX HUT-USD	−0.0002%	1h	103.38	−0.443%	$1.9M	$1.4M	10x	as long as short
Bybit HUTUSDT	0.0000%	8h	103.50	−0.327%	$19K	$91K	25x	as long as short
OKX HUT-USDT-SWAP	0.0000%	8h	103.29	−0.530%	$40K	$1.1M	20x	as long as short
Gate HUT_USDT	0.0000%	8h	103.61	−0.221%	$25K	$28K	20x	as long as short
Bitget HUTUSDT	0.0000%	8h	103.47	−0.356%	$56K	$150K	20x	as long as short
SunX HUT-USDT	0.0000%	8h	103.63	−0.202%	—	$165.2M	10x	as long as short
HTX HUT-USDT	0.0000%	8h	103.93	+0.087%	$2K	$348K	20x	as long as short
Phemex HUTUSDTlong	0.0000%	8h	103.84	long leg	$106K	$126K	10x
Binance HUTUSDT	+0.0173%	8h	103.88	+0.039%	$180K	$1.6M	20x	as long as short
BloFin HUT-USDTshort	+0.0189%	8h	103.68	−0.154%	$46K	$28K	20x