Funding arb · Price arb /

AZTEC

all AZTEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0070%/8h= +7.6% APRpaid last 24h −0.053%

Price spread now: Hyperliquid against BingX+0.031%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1151.154% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.353%+$35 on $10k

Price spread, last 7 days+0.100%+$10 · spread now +0.031%, 7d avg +0.076%

Together, before fees+0.453%+ Points / potential airdropHyperliquid: Season 2 · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.046% cheaper against BingX than usual: you would sell low and buy high (spread +0.031% now, against its 7-day average of +0.076%). If the spread goes back, that is −$5 on $10k: about 2.2 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.353% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AZTEC-USDT	0.01635	0.0070	pay 0.0035% / 4h	3m 40s	—	$1.6M	—
Short	Hyperliquid AZTEC	0.01636	0.0140	get 0.0017% / 1h	3m 40s	$1.1M	$1.2M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.031%Rate

Funding earned: $14.63
Price spread: +0.031% → +0.076%: −$4.58
Slippage, 4 orders: −$96.42
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$105.37
Costs to cover: 1.154%
Break-even: 57.4 days

Slippage from BingX: live order book, 3 min ago; Hyperliquid: live order book, 7 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 BingX live order book, 3 min ago	9.24 bp	33.2 bp −$33	97.7 bp −$977	927.6 bp −$92.8K	1410.0 bp −$705.0K
Sell Hyperliquid live order book, 7 min ago	1.85 bp	32.9 bp −$33	doesn't fit	doesn't fit	doesn't fit

AZTEC 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
BingX AZTEC-USDTlong	+0.0070%	4h	0.01635	long leg	—	$1.6M	—
Lighter AZTEC	+0.0096%	1h	0.01632	−0.202%	$72K	$101K	3x	as long as short
Bybit AZTECUSDT	+0.0100%	4h	0.01634	−0.061%	$1.5M	$1.3M	25x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01633	−0.122%	$298K	$429K	25x	as long as short
Bitget AZTECUSDT	+0.0100%	4h	0.01637	+0.122%	$353K	$279K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01623	−0.747%	$65K	$80K	—	as long as short
Hyperliquid AZTECshort	+0.0140%	1h	0.01636	+0.031%	$1.1M	$1.2M	3x
OKX AZTEC-USDT-SWAP	+0.0156%	4h	0.01639	+0.245%	$365K	$885K	20x	as long as short
Extended AZTEC-USD	+0.0360%	1h	0.01634	−0.064%	$58K	$383K	5x	as long as short
Aster AZTECUSDT	+0.0361%	4h	0.01632	−0.199%	$7K	$21K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AZTEC_USDT	+0.0362%	4h	0.01634	−0.061%	$237K	$115K	20x	as long as short
Binance AZTECUSDT	+0.0363%	4h	0.01635	0.000%	$2.0M	$4.1M	25x	as long as short
BloFin AZTEC-USDT	+0.0388%	4h	0.01622	−0.795%	$96K	$30K	25x	as long as short
KuCoin AZTECUSDTM	+0.0652%	4h	0.01635	0.000%	$287K	$286K	20x	as long as short