Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.027%

Price spread now: Gate against Hyperliquid−0.073%7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$610.607% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.150%+$15 · spread now −0.073%, 7d avg +0.056%

Together, before fees+0.140%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 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 0.130% cheaper against Hyperliquid than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRB	19.134	0.0100	pay 0.0013% / 1h	0m 02s	$475K	$273K	3x
Short	Gate TRB_USDT	19.120	0.0100	get 0.0050% / 4h	0m 02s	$559K	$2.2M	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

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 HyperliquidbpFee GatebpOrdersPrice spread, now −0.073%Rate

Funding earned: $0
Price spread: −0.073% → +0.056%: −$12.97
Slippage, 4 orders: −$36.69
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$73.65
Costs to cover: 0.607%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 60 min ago; Gate: live order book, 3 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 Hyperliquid live order book, 60 min ago	1.30 bp	14.8 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	5.22 bp	12.7 bp −$13	26.7 bp −$267	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-USDT	+0.0079%	4h	19.121	−0.068%	$353K	$167K	50x	as long as short
Hyperliquid TRBlong	+0.0100%	1h	19.134	long leg	$475K	$273K	3x
Aster TRBUSDT	+0.0100%	4h	19.106	−0.147%	$6K	$26K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.119	−0.079%	$5.0M	$11.9M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.142	+0.042%	$6.2M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.120	−0.073%	$4.4M	$5.3M	20x	as long as short
Gate TRB_USDTshort	+0.0100%	4h	19.120	−0.073%	$559K	$2.2M	50x
MEXC TRB_USDT	+0.0100%	4h	19.114	−0.105%	$15.6M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.124	−0.052%	$1.2M	$332K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.130	−0.021%	$1.3M	$1.6M	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX TRB-USDT	+0.0100%	4h	19.122	−0.063%	—	$5.0M	—	as long as short
Variational Omni TRB	+0.0112%	4h	19.145	+0.057%	$15K	$16K	—	as long as short
Kraken Futures PF_TRBUSD	+0.1735%	1h	19.218	+0.437%	$103K	$51K	10x	as long as short