Funding arb · Price arb /

AZTEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.084%

Price spread now: Bitget against Hyperliquid+0.176%7-day average −0.128% · you sell dearer than you buy

Net, funding: paid 7d − costs−$188as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$1121.119% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.760%−$76 on $10k

Price spread, last 4 days (all we have)−0.070%−$7 · spread now +0.176%, 7d avg −0.128%

Together, before fees−0.829%+ Points / potential airdropHyperliquid: Season 2 · farm board−$83 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 0.304% dearer against Hyperliquid than usual: you sell high and buy low, +$30 on $10k if it goes back to its 7-day average of −0.128%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AZTEC	0.01587	0.0100	pay 0.0013% / 1h	12m 38s	$1.1M	$1.2M	3x
Short	Bitget AZTECUSDT	0.01590	0.0100	get 0.0050% / 4h	3h 12m	$363K	$318K	20x

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 +0.176%Rate

Funding earned: $0
Price spread: +0.176% → −0.128%: $30.4
Slippage, 4 orders: −$90.94
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$81.54
Costs to cover: 1.119%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; Bitget: live order book, 33 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, 8 min ago	1.57 bp	15.7 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 33 min ago	3.14 bp	42.0 bp −$42	134.8 bp −$1,348	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-USDT	+0.0036%	4h	0.01588	+0.050%	—	$1.6M	—	as long as short
BloFin AZTEC-USDT	+0.0053%	4h	0.01591	+0.239%	$92K	$33K	25x	as long as short
Lighter AZTEC	+0.0096%	1h	0.01588	+0.069%	$56K	$100K	3x	as long as short
Hyperliquid AZTEClong	+0.0100%	1h	0.01587	long leg	$1.1M	$1.2M	3x
Aster AZTECUSDT	+0.0100%	4h	0.01589	+0.096%	$9K	$24K	5x	as long as short
Binance AZTECUSDT	+0.0100%	4h	0.01588	+0.050%	$1.9M	$4.4M	25x	as long as short
Bybit AZTECUSDT	+0.0100%	4h	0.01587	−0.032%	$1.5M	$1.3M	25x	as long as short
OKX AZTEC-USDT-SWAP	+0.0100%	4h	0.01587	−0.013%	$326K	$938K	20x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01587	−0.013%	$295K	$427K	25x	as long as short
MEXC AZTEC_USDT	+0.0100%	4h	0.01587	−0.013%	$238K	$119K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AZTECUSDTM	+0.0100%	4h	0.01590	+0.176%	$287K	$315K	20x	as long as short
Bitget AZTECUSDTshort	+0.0100%	4h	0.01590	+0.176%	$363K	$318K	20x
Variational Omni AZTEC	+0.0100%	4h	0.01589	+0.096%	$63K	$65K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01588	+0.022%	$56K	$449K	5x	as long as short