Funding arb · Price arb /

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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 +0.059%

Price spread now: Hyperliquid against edgeX+0.211%66s7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.616% of the position

Long on edgeX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 3 days (all we have)−0.414%−$41 · spread now +0.211%, 7d avg +0.087%

Together, before fees−0.288%+ Points / potential airdropedgeX: Active · Hyperliquid: Season 2 · farm board−$29 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 0.125% dearer against edgeX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.087%. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ARBUSDC	0.2261	0.0100	pay 0.0050% / 4h	3h 58m	$40K	$463K	20x
Short	Hyperliquid ARB	0.2266	0.0100	get 0.0013% / 1h	58m 12s	$41.0M	$47.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against edgeX. 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 edgeXbpFee HyperliquidbpOrdersPrice spread, now +0.211%Rate

Funding earned: $0
Price spread: +0.211% → +0.087%: $12.47
Slippage, 4 orders: −$43.6
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$49.12
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from edgeX: live order book, 15 min ago; Hyperliquid: 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 edgeX live order book, 15 min ago	13.23 bp	21.7 bp −$22	82.9 bp −$829	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.44 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1666%	1h	0.2247	−0.607%	$41K	$372K	12x	as long as short
Bybit ARBUSDT	−0.0263%	8h	0.2261	+0.021%	$58.3M	$127.8M	50x	as long as short
01 Exchange ARBUSD	−0.0216%	1h	0.2263	+0.114%	$7K	$2K	10x	as long as short
Variational Omni ARB	−0.0201%	8h	0.2259	−0.083%	$2.0M	$2.8M	—	as long as short
Gate ARB_USDT	−0.0199%	8h	0.2263	+0.119%	$5.4M	$19.6M	60x	as long as short
SoDEX ARB-USD	−0.0171%	1h	0.2260	−0.014%	$4K	$2.6M	5x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0148%	1h	0.2261	+0.030%	$25K	$34K	25x	as long as short
Kraken Futures PF_ARBUSD	−0.0138%	1h	0.2263	+0.079%	$1.1M	$4.9M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0117%	8h	0.2260	−0.023%	$22.8M	$158.8M	50x	as long as short
MEXC ARB_USDT	−0.0116%	8h	0.2263	+0.096%	$38.5M	$58.6M	200x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ARB_USDC	−0.0042%	8h	0.2262	+0.057%	$13K	$392K	10x	as long as short
Extended ARB-USD	−0.0008%	1h	0.2260	−0.053%	$359K	$2.3M	25x	as long as short
Binance ARBUSDT	−0.0007%	8h	0.2260	−0.011%	$66.6M	$313.2M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2260	−0.027%	$67K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2264	+0.163%	$56K	—	150x	as long as short
Bitget ARBUSDT	+0.0047%	8h	0.2261	+0.012%	$21.3M	$36.1M	50x	as long as short
BingX ARB-USDT	+0.0052%	8h	0.2263	+0.079%	—	$54.0M	—	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2262	+0.042%	$148K	$3K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2261	+0.008%	$1.4M	$7.3M	15x	as long as short
Hyperliquid ARBshort	+0.0100%	1h	0.2266	+0.211%	$41.0M	$47.7M	10x
Aster ARBUSDT	+0.0100%	8h	0.2261	+0.021%	$703K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2261	+0.017%	$47K	$183K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2263	+0.096%	$19.7M	$16.1M	75x	as long as short
edgeX ARBUSDClong	+0.0100%	4h	0.2261	long leg	$40K	$463K	20x
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2261	+0.011%	$482K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2263	+0.101%	$122K	$295K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2263	+0.079%	$66K	$2.0M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2264	+0.145%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2261	+0.008%	$291K	$1.0M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2259	−0.076%	$5.2M	$13.0M	50x	as long as short
BloFin ARB-USDT	+0.0114%	8h	0.2260	−0.041%	$3.1M	$2.8M	75x	as long as short
Backpack ARB_USDC_PERP	+0.0175%	1h	0.2263	+0.101%	$1.0M	$2.8M	20x	as long as short
Coinbase International ARB-PERP-INTX	+0.0232%	1h	0.2263	+0.101%	$511K	$2.3M	50x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2262	+0.039%	$2K	$695	20x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0297% / S −0.0186%	1h	0.2264	+0.151%	$926K	—	150x	as long as short
RISEx ARB/USDC	+0.0384%	1h	0.2265	+0.199%	$513K	$2.7M	10x	as long as short