Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against KuCoin−0.186%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$765as in the Funding arb table

Net, price: spread back to 7d avg − costs−$763as in the Price arb table

costs, in and out, $10k−$7527.525% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 4 days (all we have)+0.150%+$15 · spread now −0.186%, 7d avg −0.077%

Together, before fees+0.029%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 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: Hyperliquid is 0.108% cheaper against KuCoin than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ALTUSDTM	0.007532	0.0100	pay 0.0050% / 4h	2h 31m	$144K	$20K	30x
Short	Hyperliquid ALT	0.007518	0.0100	get 0.0013% / 1h	31m 20s	$1.1M	$137K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now −0.186%Rate

Funding earned: $0
Price spread: −0.186% → −0.077%: −$10.85
Slippage, 4 orders: −$731.47
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$763.32
Costs to cover: 7.525%
Break-even: never at this rate

Slippage from KuCoin: live order book, 24 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 KuCoin live order book, 24 min ago	7.88 bp	464.6 bp −$465	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	3.32 bp	20.9 bp −$21	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	−0.0475%	1h	0.007518	−0.185%	$44K	$8K	10x	as long as short
Deribit ALT_USDC-PERPETUAL	−0.0149%	1h	0.007520	−0.159%	—	$0	25x	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007691	+2.111%	$837	$4K	5.5x	as long as short
Hyperliquid ALTshort	+0.0100%	1h	0.007518	−0.186%	$1.1M	$137K	3x
Binance ALTUSDT	+0.0100%	4h	0.007522	−0.133%	$2.6M	$3.5M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007514	−0.239%	$1.2M	$1.8M	25x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007524	−0.106%	$49K	$381K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007521	−0.146%	$378K	$171K	50x	as long as short
KuCoin ALTUSDTMlong	+0.0100%	4h	0.007532	long leg	$144K	$20K	30x
Bitget ALTUSDT	+0.0100%	4h	0.007516	−0.212%	$604K	$131K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ALT-USDT	+0.0100%	4h	0.007521	−0.146%	—	$1.3M	—	as long as short
Variational Omni ALT	+0.0100%	4h	0.007543	+0.150%	$4K	$16K	—	as long as short
BloFin ALT-USDT	+0.0129%	4h	0.007528	−0.053%	$171K	$9K	50x	as long as short
Coinbase International ALT-PERP-INTX	+0.0408%	1h	0.007691	+2.111%	$14K	$3K	50x	as long as short