Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Hyperliquid against KuCoin+0.170%7-day average +0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$212as in the Funding arb table

Net, price: spread back to 7d avg − costs−$213as in the Price arb table

costs, in and out, $10k−$2172.174% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 7 days−0.005%$0 · spread now +0.170%, 7d avg +0.125%

Together, before fees+0.048%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 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 0.045% dearer against KuCoin than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.125%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ARUSDTM	4.5340	0.0100	pay 0.0100% / 8h	5h 11m	$1.2M	$1.2M	50x
Short	Hyperliquid AR	4.5417	0.0100	get 0.0013% / 1h	11m 48s	$4.1M	$4.5M	5x

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 +0.170%Rate

Funding earned: $0
Price spread: +0.170% → +0.125%: $4.5
Slippage, 4 orders: −$196.4
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$212.9
Costs to cover: 2.174%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Hyperliquid: live order book, 10 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, 3 min ago	5.50 bp	83.0 bp −$83	964.2 bp −$9,642	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	3.18 bp	14.3 bp −$14	doesn't fit	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
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5372	+0.071%	$582K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0042%	8h	4.5320	−0.044%	$2.3M	$18.5M	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5290	−0.110%	$548	$3K	5.5x	as long as short
Hyperliquid ARshort	+0.0100%	1h	4.5417	+0.170%	$4.1M	$4.5M	5x
Aster ARUSDT	+0.0100%	8h	4.5295	−0.098%	$19K	$492K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.5350	+0.022%	$9.0M	$50.6M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5350	+0.022%	$4.7M	$8.3M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5330	−0.022%	$2.6M	$2.0M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.5340	0.000%	$6.4M	$4.3M	100x	as long as short
KuCoin ARUSDTMlong	+0.0100%	8h	4.5340	long leg	$1.2M	$1.2M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.5330	−0.022%	$4.0M	$5.2M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5350	+0.022%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5491	+0.333%	$236K	$253K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5470	+0.287%	$20K	$722K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.5339	−0.002%	$37K	$235K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.5350	+0.022%	$433K	$492K	20x	as long as short
Kraken Futures PF_ARUSD	+0.1925%	1h	4.5420	+0.176%	$56K	$149K	20x	as long as short