Funding arb · Price arb /

DYM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0322%/8h= +35.3% APRpaid last 24h +0.017%

Price spread now: Gate against Hyperliquid+0.054%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$514as in the Funding arb table

Net, price: spread back to 7d avg − costs−$503as in the Price arb table

costs, in and out, $10k−$5015.012% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 4 days (all we have)−0.116%−$12 · spread now +0.054%, 7d avg +0.072%

Together, before fees−0.247%+ Points / potential airdropHyperliquid: Season 2 · farm board−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.072%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.131%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.131% in total (about -6.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid DYM	0.01843	0.0100	pay 0.0013% / 1h	15m 55s	$368K	$248K	3x
Short	Gate DYM_USDT	0.01844	0.0422	get 0.0211% / 4h	3h 15m	$147K	$110K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.054%Rate

Funding earned: $67.62
Price spread: +0.054% → +0.072%: −$1.79
Slippage, 4 orders: −$477.15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$435.32
Costs to cover: 5.012%
Break-even: 52.1 days

Slippage from Hyperliquid: live order book, 34 min ago; Gate: live order book, 50 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, 34 min ago	2.71 bp	23.5 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 50 min ago	19.03 bp	181.2 bp −$181	doesn't fit	doesn't fit	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	0.0000%	1h	0.01841	−0.100%	$252	$5	5x	as long as short
Injective DYM/USDC PERP	+0.0033%	1h	0.01718	−6.782%	$237	$12K	5.5x	as long as short
Hyperliquid DYMlong	+0.0100%	1h	0.01843	long leg	$368K	$248K	3x
Aster DYMUSDT	+0.0100%	4h	0.01843	−0.017%	$76K	$5K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01845	+0.109%	$2.4M	$4.6M	10x	as long as short
Bybit DYMUSDT	+0.0100%	4h	0.01843	0.000%	$786K	$423K	25x	as long as short
MEXC DYM_USDT	+0.0100%	4h	0.01844	+0.054%	$1.1M	$655K	20x	as long as short
Bitget DYMUSDT	+0.0100%	4h	0.01843	0.000%	$406K	$169K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01843	0.000%	—	$12.8M	—	as long as short
Variational Omni DYM	+0.0100%	4h	0.01839	−0.233%	$9K	$5K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended DYM-USD	+0.0104%	1h	0.01844	+0.032%	$6K	$284K	5x	as long as short
Gate DYM_USDTshort	+0.0422%	4h	0.01844	+0.054%	$147K	$110K	25x
KuCoin DYMUSDTM	+0.0430%	4h	0.01843	0.000%	$435K	$143K	25x	as long as short
Kraken Futures PF_DYMUSD	+0.2425%	1h	0.01848	+0.276%	$15K	$5K	10x	as long as short