Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0235%/8h= +25.7% APRpaid last 24h −0.018%

Price spread now: Bybit against Nado−0.027%49s7-day average — · you buy dearer than you sell

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

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding pays, the price is against you. Bybit is 0.027% cheaper against Nado than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 9 hours of funding at the current rate (+$7 a day). The two prices were read 49 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	Nado HIMS-PERP	29.258	−0.0235	get 0.0029% / 1h	42m 39s	$2K	$2K	10x
Short	Bybit HIMSUSDT	29.250	0	get 0.0000% / 8h	3h 42m	$295K	$120K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now −0.027%Rate

Funding earned: $49.27
Price spread: −0.027% → 0.000%: −$2.75
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $28.52
Costs to cover: 0.180%
Break-even: 2.9 days

Slippage unknown: Nado: no order-book sample; Bybit: live order book, 2 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 Nado no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	8.55 bp	51.0 bp −$51	203.4 bp −$2,034	doesn't fit	doesn't fit

Nado: 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.

HIMS on 14 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
Nado HIMS-PERPlong	−0.0235%	1h	29.258	long leg	$2K	$2K	10x
QFEX HIMS-USD	−0.0008%	1h	29.240	−0.062%	$1.3M	$537K	10x	as long as short
Aster HIMSUSDT	0.0000%	8h	29.246	−0.042%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.254	−0.013%	$963K	$2.6M	20x	as long as short
Bybit HIMSUSDTshort	0.0000%	8h	29.250	−0.027%	$295K	$120K	25x
OKX HIMS-USDT-SWAP	0.0000%	8h	29.260	+0.007%	$287K	$173K	20x	as long as short
Gate HIMS_USDT	0.0000%	8h	29.239	−0.065%	$505K	$199K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.250	−0.027%	$98K	$78K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.246	−0.041%	—	$2.4M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.312	+0.184%	$7K	$38K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest HIMS-USD-PERP	+0.0046%	1h	29.250	−0.027%	—	—	10x	as long as short
tradeXYZ xyz:HIMS	+0.0050%	1h	29.240	−0.062%	$3.3M	$1.6M	10x	as long as short
KuCoin HIMSUSDTM	+0.0100%	8h	29.260	+0.007%	$134K	$36K	20x	as long as short
Injective HIMS/USDC PERP	+0.0220%	1h	29.560	+1.032%	$13K	$22K	5.5x	as long as short