Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: Gate against Hyperliquid−0.080%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$600as in the Funding arb table

Net, price: spread back to 7d avg − costs−$623as in the Price arb table

costs, in and out, $10k−$6146.136% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

Price spread, last 4 days (all we have)+0.055%+$6 · spread now −0.080%, 7d avg +0.016%

Together, before fees+0.188%+ Points / potential airdropHyperliquid: Season 2 · farm board+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.095% cheaper against Hyperliquid than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ALT	0.007537	0.0100	pay 0.0013% / 1h	54m 45s	$1.1M	$185K	3x
Short	Gate ALT_USDT	0.007531	0.0100	get 0.0100% / 8h	54m 45s	$50K	$411K	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

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 GatebpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → +0.016%: −$9.54
Slippage, 4 orders: −$589.63
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$623.17
Costs to cover: 6.136%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Gate: live order book, 21 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, 6 min ago	2.66 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 21 min ago	8.00 bp	263.2 bp −$263	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
Kraken Futures PF_ALTUSD	−0.0088%	1h	0.007545	+0.111%	$44K	$8K	10x	as long as short
Variational Omni ALT	−0.0061%	4h	0.007528	−0.120%	$4K	$12K	—	as long as short
Deribit ALT_USDC-PERPETUAL	−0.0015%	1h	0.007541	+0.053%	—	$0	25x	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−2.070%	$815	$4K	5.5x	as long as short
BloFin ALT-USDT	+0.0087%	4h	0.007537	0.000%	$171K	$9K	50x	as long as short
Hyperliquid ALTlong	+0.0100%	1h	0.007537	long leg	$1.1M	$185K	3x
Binance ALTUSDT	+0.0100%	4h	0.007541	+0.048%	$2.6M	$3.6M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007533	−0.053%	$1.2M	$1.6M	25x	as long as short
Gate ALT_USDTshort	+0.0100%	8h	0.007531	−0.080%	$50K	$411K	25x
MEXC ALT_USDT	+0.0100%	4h	0.007541	+0.053%	$402K	$184K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ALTUSDTM	+0.0100%	4h	0.007537	0.000%	$150K	$21K	30x	as long as short
Bitget ALTUSDT	+0.0100%	4h	0.007528	−0.119%	$619K	$100K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007534	−0.040%	—	$1.3M	—	as long as short
Coinbase International ALT-PERP-INTX	+0.0416%	1h	0.007548	+0.146%	$14K	$3K	50x	as long as short