Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Bitget against Hyperliquid−0.320%7-day average −0.202% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$720.718% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 7 days+0.200%+$20 · spread now −0.320%, 7d avg −0.202%

Together, before fees+0.129%+ Points / potential airdropHyperliquid: Season 2 · farm board+$13 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: Bitget is 0.118% cheaper against Hyperliquid than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.202%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AR	4.5686	0.0100	pay 0.0013% / 1h	12m 50s	$3.9M	$4.8M	5x
Short	Bitget ARUSDT	4.5540	0.0100	get 0.0100% / 8h	1h 12m	$3.9M	$5.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.320%Rate

Funding earned: $0
Price spread: −0.320% → −0.202%: −$11.79
Slippage, 4 orders: −$50.76
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$83.54
Costs to cover: 0.718%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Bitget: 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, 9 min ago	1.32 bp	13.4 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.20 bp	19.5 bp −$20	61.1 bp −$611	doesn't fit	doesn't fit

AR on 17 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_ARUSD	−0.1897%	1h	4.5617	−0.152%	$47K	$156K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.5615	−0.156%	$586K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+0.074%	$3K	$339	5.5x	as long as short
OKX AR-USDT-SWAP	+0.0041%	8h	4.5580	−0.232%	$2.3M	$20.8M	20x	as long as short
Binance ARUSDT	+0.0080%	8h	4.5620	−0.144%	$9.0M	$55.7M	75x	as long as short
Extended AR-USD	+0.0080%	1h	4.5574	−0.246%	$37K	$237K	10x	as long as short
MEXC AR_USDT	+0.0081%	8h	4.5580	−0.232%	$6.8M	$4.6M	100x	as long as short
Hyperliquid ARlong	+0.0100%	1h	4.5686	long leg	$3.9M	$4.8M	5x
Aster ARUSDT	+0.0100%	8h	4.5552	−0.294%	$20K	$615K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5582	−0.228%	$4.7M	$8.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5560	−0.276%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5580	−0.232%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDTshort	+0.0100%	8h	4.5540	−0.320%	$3.9M	$5.6M	75x
BingX AR-USDT	+0.0100%	8h	4.5560	−0.276%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5644	−0.091%	$138K	$173K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5690	+0.009%	$58K	$749K	50x	as long as short
BloFin AR-USDT	+0.0200%	8h	4.5540	−0.320%	$423K	$682K	20x	as long as short