Funding arb · Price arb /

GRASS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0240%/8h= +26.2% APRpaid last 24h +0.174%

Price spread now: Hyperliquid against Gate+0.120%7-day average +0.217% · you sell dearer than you buy

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

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.550%+$55 on $10k

Price spread, last 4 days (all we have)+0.254%+$25 · spread now +0.120%, 7d avg +0.217%

Together, before fees+0.804%+ Points / potential airdropHyperliquid: Season 2 · farm board+$80 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.097% cheaper against Gate than usual: you would sell low and buy high (spread +0.120% now, against its 7-day average of +0.217%). If the spread goes back, that is −$10 on $10k: about 32 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	Gate GRASS_USDT	0.4404	0.0100	pay 0.0050% / 4h	2h 43m	$1.2M	$983K	50x
Short	Hyperliquid GRASS	0.4409	0.0340	get 0.0042% / 1h	43m 35s	$16.3M	$2.3M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.120%Rate

Funding earned: $50.33
Price spread: +0.120% → +0.217%: −$9.7
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $16.64
Costs to cover: 0.240%
Break-even: 4.7 days

Slippage unknown: Gate: live order book, 4 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 Gate live order book, 4 min ago	10.05 bp	27.9 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	3.78 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	−0.0114%	1h	0.4415	+0.252%	$663	—	15x	as long as short
Bybit GRASSUSDT	+0.0100%	4h	0.4414	+0.216%	$24.7M	$9.7M	25x	as long as short
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4417	+0.295%	$3.2M	$6.1M	20x	as long as short
Gate GRASS_USDTlong	+0.0100%	4h	0.4404	long leg	$1.2M	$983K	50x
KuCoin GRASSUSDTM	+0.0100%	4h	0.4407	+0.068%	$1.5M	$893K	50x	as long as short
Bitget GRASSUSDT	+0.0100%	4h	0.4415	+0.259%	$5.1M	$1.8M	75x	as long as short
Variational Omni GRASS	+0.0100%	4h	0.4470	+1.488%	$1.9M	$783K	—	as long as short
BingX GRASS-USDT	+0.0312%	4h	0.4407	+0.068%	—	$7.0M	—	as long as short
Hyperliquid GRASSshort	+0.0340%	1h	0.4409	+0.120%	$16.3M	$2.3M	3x
MEXC GRASS_USDT	+0.0358%	4h	0.4411	+0.159%	$1.4M	$978K	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance GRASSUSDT	+0.0359%	4h	0.4419	+0.351%	$10.7M	$12.8M	75x	as long as short
Extended GRASS-USD	+0.0360%	1h	0.4410	+0.135%	$217K	$822K	10x	as long as short
BloFin GRASS-USDT	+0.0410%	4h	0.4432	+0.636%	$569K	$256K	20x	as long as short
Lighter GRASS	+0.1504%	1h	0.4422	+0.413%	$696K	$517K	5x	as long as short
Kraken Futures PF_GRASSUSD	+0.1526%	1h	0.4412	+0.173%	$167K	$67K	20x	as long as short
Aster GRASSUSDT	+0.1545%	4h	0.4414	+0.223%	$64K	$114K	10x	as long as short
Injective GRASS/USDC PERP	+0.5000%	1h	0.4267	−3.111%	$7	$23K	5.5x	as long as short