Funding arb · Price arb /

DYM

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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 0.000%

Price spread now: BingX against Hyperliquid−0.109%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$168as in the Price arb table

costs, in and out, $10k−$1531.533% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now −0.109%, 7d avg +0.037%

Together, before fees+0.205%+ Points / potential airdropHyperliquid: Season 2 · farm board+$20 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: BingX is 0.146% cheaper against Hyperliquid than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid DYM	0.01829	0.0100	pay 0.0013% / 1h	8m 28s	$367K	$226K	3x
Short	BingX DYM-USDT	0.01827	0.0100	get 0.0050% / 4h	3h 08m	—	$16.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.109%Rate

Funding earned: $0
Price spread: −0.109% → +0.037%: −$14.63
Slippage, 4 orders: −$134.33
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$167.97
Costs to cover: 1.533%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 1 min ago; BingX: live order book, 15 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, 1 min ago	2.73 bp	36.0 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	8.17 bp	41.0 bp −$41	108.1 bp −$1,081	714.6 bp −$71.5K	doesn't fit

DYM 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
dYdX DYM-USD	+0.0011%	1h	0.01828	−0.072%	$250	—	5x	as long as short
Injective DYM/USDC PERP	+0.0033%	1h	0.01718	−6.069%	$237	$12K	5.5x	as long as short
Hyperliquid DYMlong	+0.0100%	1h	0.01829	long leg	$367K	$226K	3x
Aster DYMUSDT	+0.0100%	4h	0.01830	+0.041%	$75K	$5K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01829	+0.025%	$2.4M	$4.3M	10x	as long as short
Bybit DYMUSDT	+0.0100%	4h	0.01825	−0.219%	$772K	$473K	25x	as long as short
Gate DYM_USDT	+0.0100%	4h	0.01833	+0.219%	$147K	$90K	25x	as long as short
MEXC DYM_USDT	+0.0100%	4h	0.01828	−0.055%	$1.2M	$571K	20x	as long as short
Bitget DYMUSDT	+0.0100%	4h	0.01829	0.000%	$400K	$152K	25x	as long as short
BingX DYM-USDTshort	+0.0100%	4h	0.01827	−0.109%	—	$16.1M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DYM	+0.0100%	4h	0.01829	+0.009%	$9K	$5K	—	as long as short
Extended DYM-USD	+0.0104%	1h	0.01828	−0.044%	$2K	$147K	5x	as long as short
KuCoin DYMUSDTM	+0.0190%	4h	0.01832	+0.164%	$428K	$133K	25x	as long as short
Kraken Futures PF_DYMUSD	+0.4132%	1h	0.01835	+0.340%	$14K	$4K	10x	as long as short