Funding arb · Price arb /

ALT

all ALT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h +0.003%

Price spread now: Hyperliquid against BloFin+0.223%87s7-day average −0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$880.879% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 4 days (all we have)−1.028%−$103 · spread now +0.223%, 7d avg −0.071%

Together, before fees−1.147%+ Points / potential airdropHyperliquid: Season 2 · farm board−$115 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.294% dearer against BloFin than usual: you sell high and buy low (spread +0.223% now, against its 7-day average of −0.071%): +$29 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 43 days. At the pace of the last 7 days (−0.119% in total) that is about 17 days. 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 ALT-USDT	0.007623	0.0123	pay 0.0061% / 4h	1h 31m	$173K	$10K	50x
Short	Hyperliquid ALT	0.007640	0.0100	get 0.0013% / 1h	31m 42s	$1.1M	$191K	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

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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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.223%Rate

Funding earned: −$4.74
Price spread: +0.223% → −0.071%: $29.37
Slippage, 4 orders: −$66.95
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$63.32
Costs to cover: 0.879%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Hyperliquid: live order book, 9 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 BloFin live order book, 5 min ago	3.28 bp	19.0 bp −$19	53.4 bp −$534	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	4.59 bp	17.3 bp −$17	doesn't fit	doesn't fit	doesn't fit

ALT 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
Deribit ALT_USDC-PERPETUAL	0.0000%	1h	0.007637	+0.184%	—	$0	25x	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007604	−0.249%	$827	$4K	5.5x	as long as short
Hyperliquid ALTshort	+0.0100%	1h	0.007640	+0.223%	$1.1M	$191K	3x
Binance ALTUSDT	+0.0100%	4h	0.007642	+0.255%	$2.6M	$3.6M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007638	+0.197%	$1.2M	$1.7M	25x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007633	+0.131%	$49K	$398K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007643	+0.262%	$412K	$180K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007632	+0.118%	$151K	$20K	30x	as long as short
Bitget ALTUSDT	+0.0100%	4h	0.007629	+0.079%	$603K	$106K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007640	+0.223%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ALT	+0.0100%	4h	0.007623	−0.006%	$4K	$15K	—	as long as short
BloFin ALT-USDTlong	+0.0123%	4h	0.007623	long leg	$173K	$10K	50x
Coinbase International ALT-PERP-INTX	+0.0440%	1h	0.007644	+0.275%	$14K	$3K	50x	as long as short
Kraken Futures PF_ALTUSD	+0.0445%	1h	0.007639	+0.203%	$45K	$8K	10x	as long as short