Funding arb · Price arb /

BLUR

all BLUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0049%/8h= −5.3% APRpaid last 24h +0.002%

Price spread now: Hyperliquid against BloFin+0.020%87s7-day average −0.032% · 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—prices read too far apart to compare

costs, in and out, $10k−$750.752% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 4 days (all we have)−0.247%−$25 · spread now +0.020%, 7d avg −0.032%

Together, before fees−0.295%+ Points / potential airdropHyperliquid: Season 2 · farm board−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.052% dearer against BloFin than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.032%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.6 days. At the pace of the last 7 days (−0.048% in total) that is about 7.6 days. The two prices were read 87 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	BloFin BLUR-USDT	0.01970	0.0149	pay 0.0074% / 4h	2h 11m	$363K	$2K	50x
Short	Hyperliquid BLUR	0.01970	0.0100	get 0.0013% / 1h	11m 51s	$1.3M	$427K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$10.24
Price spread: +0.020% → −0.032%: $5.22
Slippage, 4 orders: −$54.18
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$80.2
Costs to cover: 0.752%
Break-even: never at this rate

Slippage from BloFin: live order book, 60 min ago; Hyperliquid: live order book, 9 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 BloFin live order book, 60 min ago	2.52 bp	18.5 bp −$19	46.8 bp −$468	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	4.83 bp	18.8 bp −$19	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
Injective BLUR/USDC PERP	+0.0033%	1h	0.01998	+1.421%	$1K	$212	5.5x	as long as short
Hyperliquid BLURshort	+0.0100%	1h	0.01970	+0.020%	$1.3M	$427K	3x
Aster BLURUSDT	+0.0100%	4h	0.01970	−0.025%	$5K	$4K	5x	as long as short
Binance BLURUSDT	+0.0100%	4h	0.01971	+0.043%	$2.0M	$3.7M	50x	as long as short
Bybit BLURUSDT	+0.0100%	8h	0.01971	+0.025%	$1.2M	$934K	25x	as long as short
OKX BLUR-USDT-SWAP	+0.0100%	4h	0.01971	+0.051%	$970K	$1.7M	20x	as long as short
MEXC BLUR_USDT	+0.0100%	4h	0.01970	0.000%	$1.0M	$121K	20x	as long as short
KuCoin BLURUSDTM	+0.0100%	4h	0.01972	+0.102%	$567K	$126K	30x	as long as short
Bitget BLURUSDT	+0.0100%	4h	0.01970	0.000%	$770K	$552K	50x	as long as short
Variational Omni BLUR	+0.0100%	8h	0.01967	−0.138%	$1K	$849	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BLUR_USDT	+0.0124%	4h	0.01973	+0.152%	$792K	$259K	50x	as long as short
BloFin BLUR-USDTlong	+0.0149%	4h	0.01970	long leg	$363K	$2K	50x
BingX BLUR-USDT	+0.0200%	4h	0.01970	0.000%	—	$3.4M	—	as long as short
dYdX BLUR-USD	+0.1714%	1h	0.01969	−0.076%	$25K	$328	5x	as long as short
Kraken Futures PF_BLURUSD	+0.3166%	1h	0.01979	+0.433%	$11K	$8K	10x	as long as short