Funding arb · Price arb /

STABLE

all STABLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0054%/8h= +6.0% APRpaid last 24h −0.001%

Price spread now: Hyperliquid against BloFin+0.044%67s7-day average −0.006% · you sell dearer than you buy

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

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.279%−$28 on $10k

Price spread, last 3 days (all we have)−0.107%−$11 · spread now +0.044%, 7d avg −0.006%

Together, before fees−0.386%+ Points / potential airdropHyperliquid: Season 2 · farm board−$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.051% dearer against BloFin than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.006%. Mind the row above: over the last 7 days funding on this pair cost −0.279%, so the current rate has only just turned in your favour. 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	BloFin STABLE-USDT	0.02479	0.0046	pay 0.0023% / 4h	51m 58s	$112K	$7K	75x
Short	Hyperliquid STABLE	0.02480	0.0100	get 0.0013% / 1h	51m 58s	$874K	$225K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.044%Rate

Funding earned: $11.43
Price spread: +0.044% → −0.006%: $5.07
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$4.5
Costs to cover: 0.210%
Break-even: 9.8 days

Slippage unknown: BloFin: live order book, 8 min ago; Hyperliquid: live order book, 18 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 BloFin live order book, 8 min ago	4.04 bp	13.6 bp −$14	55.6 bp −$556	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 18 min ago	2.03 bp	24.8 bp −$25	doesn't fit	doesn't fit	doesn't fit

STABLE on 15 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 STABLEUSDT	−0.0013%	4h	0.02480	+0.027%	$19K	$6K	20x	as long as short
BloFin STABLE-USDTlong	+0.0046%	4h	0.02479	long leg	$112K	$7K	75x
Lighter STABLE	+0.0096%	1h	0.02495	+0.658%	$115K	$3K	3x	as long as short
Hyperliquid STABLEshort	+0.0100%	1h	0.02480	+0.044%	$874K	$225K	3x
Binance STABLEUSDT	+0.0100%	4h	0.02480	+0.040%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02482	+0.105%	$1.5M	$753K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02482	+0.121%	$204K	$406K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02483	+0.161%	$172K	$88K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02479	0.000%	$661K	$154K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02491	+0.484%	$178K	$28K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02482	+0.121%	$293K	$115K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02482	+0.121%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02486	+0.269%	$146K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02480	+0.028%	$1K	$661K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02480	+0.020%	$12K	$175K	10x	as long as short