Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: KuCoin against Hyperliquid+0.452%7-day average +0.150% · you sell dearer than you buy

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

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.391%+$39 on $10k

Price spread, last 4 days (all we have)−0.287%−$29 · spread now +0.452%, 7d avg +0.150%

Together, before fees+0.104%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 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: KuCoin is 0.302% dearer against Hyperliquid than usual: you sell high and buy low, +$30 on $10k if it goes back to its 7-day average of +0.150%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid STABLE	0.02433	0.0100	pay 0.0013% / 1h	19m 38s	$852K	$144K	3x
Short	KuCoin STABLEUSDTM	0.02444	0.0100	get 0.0050% / 4h	2h 19m	$182K	$25K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.452%Rate

Funding earned: $0
Price spread: +0.452% → +0.150%: $30.21
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $9.21
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 28 min ago; KuCoin: live order book, 22 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, 28 min ago	1.83 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 22 min ago	18.24 bp	217.3 bp −$217	doesn't fit	doesn't fit	doesn't fit

STABLE on 15 exchanges

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
BloFin STABLE-USDT	+0.0050%	4h	0.02438	+0.206%	$112K	$20K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02447	+0.584%	$112K	$10K	3x	as long as short
Hyperliquid STABLElong	+0.0100%	1h	0.02433	long leg	$852K	$144K	3x
Aster STABLEUSDT	+0.0100%	4h	0.02433	0.000%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02432	−0.041%	$2.5M	$2.6M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02435	+0.082%	$1.5M	$773K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02435	+0.082%	$210K	$424K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02435	+0.082%	$176K	$45K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02432	−0.041%	$592K	$161K	20x	as long as short
KuCoin STABLEUSDTMshort	+0.0100%	4h	0.02444	+0.452%	$182K	$25K	30x

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02435	+0.082%	$281K	$84K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02435	+0.082%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02436	+0.123%	$143K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02431	−0.078%	$1K	$1.0M	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02430	−0.113%	$11K	$211K	10x	as long as short