Funding arb · Price arb /

TRB

all TRB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.002%

Price spread now: Hyperliquid against BloFin−0.135%67s7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$770.768% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.595%+$60 · spread now −0.135%, 7d avg +0.036%

Together, before fees+0.597%+ Points / potential airdropHyperliquid: Season 2 · farm board+$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.170% cheaper against BloFin than usual: you would sell low and buy high (spread −0.135% now, against its 7-day average of +0.036%). If the spread goes back, that is −$17 on $10k: about 16 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.001% in total) that is about years. 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 TRB-USDT	19.283	0.0064	pay 0.0032% / 4h	3h 02m	$351K	$168K	50x
Short	Hyperliquid TRB	19.257	0.0100	get 0.0013% / 1h	2m 00s	$477K	$273K	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

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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 BloFinbpFee HyperliquidbpOrdersPrice spread, now −0.135%Rate

Funding earned: $7.53
Price spread: −0.135% → +0.036%: −$17.04
Slippage, 4 orders: −$55.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$86.3
Costs to cover: 0.768%
Break-even: 87.2 days

Slippage from BloFin: live order book, 65 min ago; Hyperliquid: live order book, 48 min ago.

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, 65 min ago	1.57 bp	15.1 bp −$15	33.5 bp −$335	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 48 min ago	1.83 bp	24.4 bp −$24	doesn't fit	doesn't fit	doesn't fit

TRB on 13 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
BloFin TRB-USDTlong	+0.0064%	4h	19.283	long leg	$351K	$168K	50x
Hyperliquid TRBshort	+0.0100%	1h	19.257	−0.135%	$477K	$273K	3x
Aster TRBUSDT	+0.0100%	4h	19.247	−0.187%	$2K	$29K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.244	−0.202%	$5.0M	$11.8M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.277	−0.031%	$6.3M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.260	−0.119%	$4.4M	$5.3M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.244	−0.202%	$15.9M	$1.2M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.287	+0.021%	$1.2M	$325K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.259	−0.124%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.264	−0.099%	—	$5.0M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRB	+0.0112%	4h	19.317	+0.175%	$15K	$16K	—	as long as short
Gate TRB_USDT	+0.0676%	4h	19.270	−0.067%	$580K	$2.2M	50x	as long as short
Kraken Futures PF_TRBUSD	+0.4461%	1h	19.248	−0.180%	$108K	$56K	10x	as long as short