Funding arb · Price arb /

BLUR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Bitget−0.214%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1061.063% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 4 days (all we have)+0.223%+$22 · spread now −0.214%, 7d avg −0.028%

Together, before fees+0.122%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 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 0.186% cheaper against Bitget than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BLURUSDT	0.02007	0.0100	pay 0.0050% / 4h	3h 13m	$830K	$461K	50x
Short	Hyperliquid BLUR	0.02003	0.0100	get 0.0013% / 1h	13m 43s	$1.4M	$433K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now −0.214%Rate

Funding earned: $0
Price spread: −0.214% → −0.028%: −$18.65
Slippage, 4 orders: −$85.28
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$124.93
Costs to cover: 1.063%
Break-even: never at this rate

Slippage from Bitget: live order book, 57 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 Bitget live order book, 57 min ago	7.47 bp	24.5 bp −$24	214.1 bp −$2,141	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	1.00 bp	34.0 bp −$34	doesn't fit	doesn't fit	doesn't fit

BLUR on 15 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_BLURUSD	−0.0735%	1h	0.02013	+0.304%	$13K	$5K	10x	as long as short
Injective BLUR/USDC PERP	+0.0033%	1h	0.01998	−0.448%	$1K	$212	5.5x	as long as short
Hyperliquid BLURshort	+0.0100%	1h	0.02003	−0.214%	$1.4M	$433K	3x
Aster BLURUSDT	+0.0100%	4h	0.02005	−0.105%	$4K	$3K	5x	as long as short
Binance BLURUSDT	+0.0100%	4h	0.02006	−0.050%	$2.0M	$3.5M	50x	as long as short
Bybit BLURUSDT	+0.0100%	8h	0.02006	−0.055%	$1.3M	$971K	25x	as long as short
OKX BLUR-USDT-SWAP	+0.0100%	4h	0.02006	−0.050%	$983K	$1.7M	20x	as long as short
MEXC BLUR_USDT	+0.0100%	4h	0.02005	−0.100%	$1.1M	$117K	20x	as long as short
KuCoin BLURUSDTM	+0.0100%	4h	0.02007	0.000%	$582K	$100K	30x	as long as short
Bitget BLURUSDTlong	+0.0100%	4h	0.02007	long leg	$830K	$461K	50x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BLUR-USDT	+0.0100%	4h	0.02008	+0.050%	—	$13.7M	—	as long as short
Variational Omni BLUR	+0.0100%	8h	0.02000	−0.339%	$1K	$849	—	as long as short
BloFin BLUR-USDT	+0.0120%	4h	0.01999	−0.399%	$353K	$2K	50x	as long as short
dYdX BLUR-USD	+0.0464%	1h	0.01999	−0.399%	$26K	$328	5x	as long as short
Gate BLUR_USDT	+0.0538%	4h	0.02007	0.000%	$800K	$260K	50x	as long as short