Funding arb · Price arb /

GRASS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0237%/8h= +26.0% APRpaid last 24h +0.175%

Price spread now: Hyperliquid against BingX+0.130%7-day average +0.185% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.488%+$49 on $10k

Price spread, last 7 days+0.103%+$10 · spread now +0.130%, 7d avg +0.185%

Together, before fees+0.592%+ Points / potential airdropHyperliquid: Season 2 · farm board+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.055% cheaper against BingX than usual: you would sell low and buy high (spread +0.130% now, against its 7-day average of +0.185%). If the spread goes back, that is −$6 on $10k: about 19 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX GRASS-USDT	0.4152	0.0100	pay 0.0050% / 4h	3m 34s	—	$7.3M	—
Short	Hyperliquid GRASS	0.4157	0.0337	get 0.0042% / 1h	3m 34s	$15.5M	$3.6M	3x

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 +0.130%Rate

Funding earned: $49.84
Price spread: +0.130% → +0.185%: −$5.53
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $25.32
Costs to cover: 0.190%
Break-even: 3.4 days

Slippage unknown: BingX: live order book, 9 min ago; Hyperliquid: live order book, 9 min ago. Net counts fees only.

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, 9 min ago	6.03 bp	26.6 bp −$27	46.8 bp −$468	182.4 bp −$18.2K	509.6 bp −$254.8K
Sell Hyperliquid live order book, 9 min ago	2.53 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

GRASS on 17 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
Reya GRASSRUSDPERP	−0.0113%	1h	0.4152	−0.007%	$624	—	15x	as long as short
Injective GRASS/USDC PERP	+0.0033%	1h	0.4267	+2.770%	$7	$23K	5.5x	as long as short
Binance GRASSUSDT	+0.0100%	4h	0.4155	+0.063%	$9.8M	$25.1M	75x	as long as short
Bybit GRASSUSDT	+0.0100%	4h	0.4148	−0.087%	$23.4M	$14.7M	25x	as long as short
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4152	0.000%	$3.0M	$12.7M	20x	as long as short
Gate GRASS_USDT	+0.0100%	4h	0.4150	−0.048%	$1.1M	$1.5M	50x	as long as short
MEXC GRASS_USDT	+0.0100%	4h	0.4154	+0.048%	$1.1M	$2.2M	100x	as long as short
Bitget GRASSUSDT	+0.0100%	4h	0.4148	−0.099%	$4.9M	$2.8M	75x	as long as short
BingX GRASS-USDTlong	+0.0100%	4h	0.4152	long leg	—	$7.3M	—
Variational Omni GRASS	+0.0100%	4h	0.4160	+0.203%	$2.0M	$1.2M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended GRASS-USD	+0.0104%	1h	0.4152	−0.006%	$205K	$823K	10x	as long as short
KuCoin GRASSUSDTM	+0.0122%	4h	0.4150	−0.048%	$1.3M	$1.3M	50x	as long as short
BloFin GRASS-USDT	+0.0123%	4h	0.4173	+0.506%	$522K	$297K	20x	as long as short
Hyperliquid GRASSshort	+0.0337%	1h	0.4157	+0.130%	$15.5M	$3.6M	3x
Aster GRASSUSDT	+0.0637%	4h	0.4154	+0.055%	$64K	$208K	10x	as long as short
Kraken Futures PF_GRASSUSD	+0.1405%	1h	0.4152	−0.010%	$147K	$124K	20x	as long as short
Lighter GRASS	+0.2584%	1h	0.4167	+0.366%	$813K	$774K	5x	as long as short