Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Orderly against Hyperliquid−0.211%7-day average −0.072% · you buy dearer than you sell

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

Long on Hyperliquid Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 3 days (all we have)+0.296%+$30 · spread now −0.211%, 7d avg −0.072%

Together, before fees+0.337%+ Points / potential airdropHyperliquid: Season 2 · farm board+$34 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: Orderly is 0.139% cheaper against Hyperliquid than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TIA	0.4414	0.0100	pay 0.0013% / 1h	3m 15s	$4.7M	$1.6M	5x
Short	Orderly PERP_TIA_USDC	0.4405	0.0100	get 0.0050% / 4h	2h 03m	$5K	$317K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.211%Rate

Funding earned: −$0.05
Price spread: −0.211% → −0.072%: −$13.87
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$28.92
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 min ago; Orderly: 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 Hyperliquid live order book, 9 min ago	1.02 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

TIA on 26 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
OKX TIA-USDT-SWAP	−0.0026%	4h	0.4402	−0.279%	$2.8M	$6.0M	50x	as long as short
Kraken Futures PF_TIAUSD	−0.0003%	1h	0.4410	−0.092%	$360K	$212K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4406	−0.188%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4407	−0.167%	$1K	—	150x	as long as short
KuCoin TIAUSDTM	+0.0018%	4h	0.4404	−0.233%	$4.2M	$8.9M	50x	as long as short
ApeX Omni TIAUSDT	+0.0029%	1h	0.4399	−0.347%	$50K	$233K	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4415	+0.016%	$156K	$409K	10x	as long as short
Orderly PERP_TIA_USDCshort	+0.0100%	4h	0.4405	−0.211%	$5K	$317K	10x
Hyperliquid TIAlong	+0.0100%	1h	0.4414	long leg	$4.7M	$1.6M	5x
Aster TIAUSDT	+0.0100%	4h	0.4409	−0.129%	$32K	$245K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TIAUSDT	+0.0100%	4h	0.4405	−0.203%	$14.4M	$42.5M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4402	−0.279%	$9.6M	$13.1M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4408	−0.143%	$992K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4405	−0.211%	$12.4M	$6.8M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4405	−0.211%	$4.5M	$3.4M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4403	−0.256%	—	$99.0M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4405	−0.220%	$102K	$152K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4397	−0.398%	$103K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4412	−0.052%	$59K	$75K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4405	−0.218%	$42K	$198K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4406	−0.177%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0180%	1h	0.4404	−0.225%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0189%	1h	0.4412	−0.052%	$52K	$199	10x	as long as short
Injective TIA/USDC PERP	+0.0266%	1h	0.4411	−0.075%	$27K	$10K	12x	as long as short
Coinbase International TIA-PERP-INTX	+0.0304%	1h	0.4415	+0.016%	$52K	$76K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0474% / S −0.1090%	1h	0.4407	−0.176%	$40K	—	100x	as long as short