Funding arb · Price arb /

ACE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0470%/8h= +51.5% APRpaid last 24h 0.000%

Price spread now: Gate against Hyperliquid−0.058%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1061.064% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.144%+$14 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now −0.058%, 7d avg −0.016%

Together, before fees+0.138%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.042% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.058% now, against its 7-day average of −0.016%). If the spread goes back, that is −$4 on $10k: about 7 hours of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.144% in total) that is about 2.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.144% in total (about 7.5% 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	Hyperliquid ACE	0.1721	0.0100	pay 0.0013% / 1h	58m 00s	$405K	$387K	3x
Short	Gate ACE_USDT	0.1720	0.0570	get 0.0285% / 4h	58m 00s	$1.1M	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpOrdersPrice spread, now −0.058%Rate

Funding earned: $98.7
Price spread: −0.058% → −0.016%: −$4.21
Slippage, 4 orders: −$82.41
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$11.92
Costs to cover: 1.064%
Break-even: 7.8 days

Slippage from Hyperliquid: live order book, 2 min ago; Gate: live order book, 5 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 Hyperliquid live order book, 2 min ago	2.91 bp	17.5 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	5.82 bp	31.6 bp −$32	doesn't fit	doesn't fit	doesn't fit

ACE 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 ACE-USDT	+0.0069%	4h	0.1719	−0.093%	$450K	$70K	20x	as long as short
Hyperliquid ACElong	+0.0100%	1h	0.1721	long leg	$405K	$387K	3x
Aster ACEUSDT	+0.0100%	4h	0.1718	−0.176%	$27K	$33K	5x	as long as short
Binance ACEUSDT	+0.0100%	4h	0.1720	−0.081%	$8.5M	$18.0M	20x	as long as short
MEXC ACE_USDT	+0.0100%	4h	0.1720	−0.081%	$13.9M	$785K	20x	as long as short
KuCoin ACEUSDTM	+0.0100%	4h	0.1720	−0.041%	$2.0M	$514K	20x	as long as short
Bitget ACEUSDT	+0.0100%	4h	0.1720	−0.058%	$1.6M	$2.2M	10x	as long as short
Variational Omni ACE	+0.0100%	4h	0.1716	−0.272%	$115K	$44K	—	as long as short
HTX ACE-USDT	+0.0100%	4h	0.1709	−0.703%	$15K	$140K	20x	as long as short
Bybit ACEUSDT	+0.0370%	4h	0.1721	−0.029%	$2.4M	$2.5M	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ACE-USDT	+0.0382%	4h	0.1720	−0.058%	—	$1.4M	—	as long as short
Gate ACE_USDTshort	+0.0570%	4h	0.1720	−0.058%	$1.1M	$1.8M	25x
Kraken Futures PF_ACEUSD	+0.0900%	1h	0.1720	−0.032%	$49K	$628K	10x	as long as short