Funding arb · Price arb /

HEMI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h −0.061%

Price spread now: Extended against KuCoin−0.072%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.072% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.072% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HEMIUSDTM	0.006560	0.0100	pay 0.0050% / 4h	2h 10m	$832K	$1.7M	20x
Short	Extended HEMI-USD	0.006555	0.0192	get 0.0024% / 1h	10m 39s	$17K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.072%Rate

Funding earned: $19.32
Price spread: −0.072% → 0.000%: −$7.16
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$4.84
Costs to cover: 0.170%
Break-even: 8.8 days

Slippage unknown: KuCoin: live order book, just now; Extended: no order-book sample. 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 KuCoin live order book, just now	17.50 bp	174.3 bp −$174	doesn't fit	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HEMI on 12 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
Aster HEMIUSDT	+0.0100%	4h	0.006550	−0.153%	$75K	$46K	5x	as long as short
Bybit HEMIUSDT	+0.0100%	4h	0.006559	−0.015%	$1.7M	$1.5M	25x	as long as short
KuCoin HEMIUSDTMlong	+0.0100%	4h	0.006560	long leg	$832K	$1.7M	20x
Variational Omni HEMI	+0.0100%	4h	0.006560	+0.005%	$23K	$3K	—	as long as short
SunX HEMI-USDT	+0.0100%	4h	0.006700	+2.134%	$2K	$1.2M	20x	as long as short
Extended HEMI-USDshort	+0.0192%	1h	0.006555	−0.072%	$17K	—	5x
MEXC HEMI_USDT	+0.0192%	4h	0.006557	−0.046%	$1.7M	$284K	50x	as long as short
Binance HEMIUSDT	+0.0193%	4h	0.006558	−0.034%	$6.6M	$11.0M	20x	as long as short
BingX HEMI-USDT	+0.0194%	4h	0.006558	−0.030%	—	$1.4M	—	as long as short
BloFin HEMI-USDT	+0.0200%	4h	0.006558	−0.030%	$366K	$52K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HEMI_USDT	+0.0344%	4h	0.006560	0.000%	$511K	$292K	20x	as long as short
Hyperliquid HEMI	+0.1335%	1h	0.006568	+0.122%	$1.0M	$370K	3x	as long as short