Funding arb · Price arb /

COMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against BingX−0.036%7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$850.850% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 7 days+0.149%+$15 · spread now −0.036%, 7d avg +0.055%

Together, before fees+0.180%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 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 0.090% cheaper against BingX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX COMP-USDT	22.510	0.0100	pay 0.0100% / 8h	2h 42m	—	$34.4M	—
Short	Hyperliquid COMP	22.502	0.0100	get 0.0013% / 1h	42m 21s	$861K	$345K	5x

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 −0.036%Rate

Funding earned: $0
Price spread: −0.036% → +0.055%: −$9.04
Slippage, 4 orders: −$65.96
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$94
Costs to cover: 0.850%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Hyperliquid: live order book, 38 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, 7 min ago	6.63 bp	19.7 bp −$20	49.5 bp −$495	416.4 bp −$41.6K	520.2 bp −$260.1K
Sell Hyperliquid live order book, 38 min ago	0.66 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit

COMP on 16 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
Deribit COMP_USDC-PERPETUAL	−0.0638%	1h	22.500	−0.044%	$216	$439	50x	as long as short
Kraken Futures PF_COMPUSD	−0.0530%	1h	22.529	+0.086%	$223K	$94K	20x	as long as short
dYdX COMP-USD	0.0000%	1h	22.590	+0.355%	$68K	—	5x	as long as short
BloFin COMP-USDT	+0.0071%	8h	22.530	+0.089%	$239K	$173K	20x	as long as short
Binance COMPUSDT	+0.0097%	8h	22.480	−0.133%	$4.3M	$6.3M	75x	as long as short
Hyperliquid COMPshort	+0.0100%	1h	22.502	−0.036%	$861K	$345K	5x
Bybit COMPUSDT	+0.0100%	8h	22.498	−0.053%	$3.8M	$1.7M	75x	as long as short
OKX COMP-USDT-SWAP	+0.0100%	8h	22.490	−0.089%	$1.7M	$2.2M	20x	as long as short
Gate COMP_USDT	+0.0100%	8h	22.550	+0.178%	$219K	$55K	25x	as long as short
MEXC COMP_USDT	+0.0100%	8h	22.500	−0.044%	$2.4M	$777K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin COMPUSDTM	+0.0100%	8h	22.500	−0.044%	$406K	$110K	30x	as long as short
Bitget COMPUSDT	+0.0100%	8h	22.500	−0.044%	$1.9M	$583K	75x	as long as short
BingX COMP-USDTlong	+0.0100%	8h	22.510	long leg	—	$34.4M	—
Variational Omni COMP	+0.0100%	8h	22.576	+0.293%	$14K	$30K	—	as long as short
Injective COMP/USDC PERP	+0.0239%	1h	22.820	+1.377%	$1K	$13K	12x	as long as short
Coinbase International COMP-PERP-INTX	+0.0384%	1h	22.980	+2.088%	$18K	$44K	25x	as long as short