Funding arb · Price arb /

AR

all AR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: KuCoin against Hyperliquid−0.278%7-day average −0.124% · you buy dearer than you sell

Net, funding: paid 7d − costs−$242as in the Funding arb table

Net, price: spread back to 7d avg − costs−$252as in the Price arb table

costs, in and out, $10k−$2372.366% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 7 days+0.189%+$19 · spread now −0.278%, 7d avg −0.124%

Together, before fees+0.133%+ 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: KuCoin is 0.154% cheaper against Hyperliquid than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.124%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AR	4.2749	0.0100	pay 0.0013% / 1h	6m 11s	$3.8M	$4.8M	5x
Short	KuCoin ARUSDTM	4.2630	0.0100	get 0.0100% / 8h	1h 06m	$1.1M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.278%Rate

Funding earned: $0
Price spread: −0.278% → −0.124%: −$15.44
Slippage, 4 orders: −$215.61
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$252.04
Costs to cover: 2.366%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; KuCoin: live order book, 4 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	3.86 bp	17.1 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	8.22 bp	93.2 bp −$93	528.3 bp −$5,283	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	−0.2647%	1h	4.2639	−0.257%	$53K	$183K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.2648	−0.235%	$547K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+3.488%	$2K	$5K	5.5x	as long as short
Hyperliquid ARlong	+0.0100%	1h	4.2749	long leg	$3.8M	$4.8M	5x
Aster ARUSDT	+0.0100%	8h	4.2635	−0.268%	$32K	$411K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2660	−0.208%	$8.5M	$50.2M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.2660	−0.208%	$4.4M	$9.0M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.2650	−0.232%	$2.2M	$16.5M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.2610	−0.325%	$2.0M	$3.4M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.2670	−0.185%	$5.9M	$4.3M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTMshort	+0.0100%	8h	4.2630	−0.278%	$1.1M	$1.3M	50x
Bitget ARUSDT	+0.0100%	8h	4.2630	−0.278%	$3.7M	$5.3M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.2650	−0.232%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.2657	−0.215%	$245K	$517K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.2690	−0.138%	$20K	$713K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.2688	−0.143%	$37K	$244K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.2690	−0.138%	$416K	$447K	20x	as long as short