Funding arb · Price arb /

GRASS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0408%/8h= −44.7% APRpaid last 24h −0.166%

Price spread now: BloFin against Hyperliquid−0.166%67s7-day average −0.054% · you buy dearer than you sell

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

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.472%−$47 on $10k

Price spread, last 3 days (all we have)+0.137%+$14 · spread now −0.166%, 7d avg −0.054%

Together, before fees−0.335%+ Points / potential airdropHyperliquid: Season 2 · farm board−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and BloFin is 0.112% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.054%). Swap the legs. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid GRASS	0.4216	0.0631	pay 0.0079% / 1h	31m 55s	$15.6M	$3.1M	3x
Short	BloFin GRASS-USDT	0.4209	0.0223	get 0.0111% / 4h	1h 31m	$553K	$276K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.166%Rate

Funding earned: −$85.68
Price spread: −0.166% → −0.054%: −$11.16
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$117.83
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 11 min ago; BloFin: live order book, 49 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 Hyperliquid live order book, 11 min ago	4.48 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 49 min ago	3.34 bp	19.4 bp −$19	31.9 bp −$319	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	0.4214	−0.053%	$633	—	15x	as long as short
Injective GRASS/USDC PERP	+0.0033%	1h	0.4267	+1.210%	$7	$23K	5.5x	as long as short
Bybit GRASSUSDT	+0.0100%	4h	0.4210	−0.152%	$23.8M	$12.6M	25x	as long as short
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4214	−0.047%	$3.0M	$9.8M	20x	as long as short
Gate GRASS_USDT	+0.0100%	4h	0.4209	−0.166%	$1.1M	$1.4M	50x	as long as short
Bitget GRASSUSDT	+0.0100%	4h	0.4207	−0.218%	$4.9M	$2.5M	75x	as long as short
Variational Omni GRASS	+0.0100%	4h	0.4213	−0.071%	$2.0M	$1.1M	—	as long as short
KuCoin GRASSUSDTM	+0.0138%	4h	0.4217	+0.024%	$1.4M	$1.1M	50x	as long as short
MEXC GRASS_USDT	+0.0212%	4h	0.4209	−0.166%	$1.3M	$1.7M	100x	as long as short
Binance GRASSUSDT	+0.0214%	4h	0.4210	−0.142%	$10.0M	$20.3M	75x	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	+0.0216%	1h	0.4212	−0.099%	$208K	$823K	10x	as long as short
BloFin GRASS-USDTshort	+0.0223%	4h	0.4209	−0.166%	$553K	$276K	20x
BingX GRASS-USDT	+0.0246%	4h	0.4209	−0.166%	—	$7.2M	—	as long as short
Hyperliquid GRASSlong	+0.0631%	1h	0.4216	long leg	$15.6M	$3.1M	3x
Aster GRASSUSDT	+0.1094%	4h	0.4208	−0.188%	$62K	$165K	10x	as long as short
Kraken Futures PF_GRASSUSD	+0.1520%	1h	0.4219	+0.082%	$152K	$98K	20x	as long as short
Lighter GRASS	+0.1560%	1h	0.4230	+0.342%	$740K	$640K	5x	as long as short