Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Gate against Hyperliquid−0.040%7-day average +0.006% · you buy dearer than you sell

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

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.513%+$51 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.040%, 7d avg +0.006%

Together, before fees+0.573%+ Points / potential airdropHyperliquid: Season 2 · farm board+$57 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.046% cheaper against Hyperliquid than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid STABLE	0.02509	0.0100	pay 0.0013% / 1h	18m 12s	$885K	$210K	3x
Short	Gate STABLE_USDT	0.02508	0.0100	get 0.0050% / 4h	3h 18m	$174K	$72K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. 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 HyperliquidbpFee GatebpOrdersPrice spread, now −0.040%Rate

Funding earned: $0
Price spread: −0.040% → +0.006%: −$4.59
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$28.59
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 42 min ago; Gate: live order book, 48 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, 42 min ago	2.58 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 48 min ago	5.95 bp	107.0 bp −$107	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
Lighter STABLE	+0.0096%	1h	0.02522	+0.518%	$116K	$8K	3x	as long as short
Hyperliquid STABLElong	+0.0100%	1h	0.02509	long leg	$885K	$210K	3x
Aster STABLEUSDT	+0.0100%	4h	0.02510	+0.038%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02509	+0.008%	$2.5M	$2.9M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02512	+0.116%	$1.5M	$766K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02511	+0.080%	$204K	$430K	20x	as long as short
Gate STABLE_USDTshort	+0.0100%	4h	0.02508	−0.040%	$174K	$72K	50x
MEXC STABLE_USDT	+0.0100%	4h	0.02508	−0.040%	$623K	$171K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02517	+0.319%	$186K	$30K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02510	+0.040%	$294K	$118K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02511	+0.080%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02514	+0.183%	$147K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02505	−0.159%	$2K	$788K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02507	−0.065%	$12K	$149K	10x	as long as short
BloFin STABLE-USDT	+0.0138%	4h	0.02511	+0.080%	$116K	$8K	75x	as long as short