Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.010%

Price spread now: Hyperliquid against BloFin+0.053%7-day average −0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$800.805% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 3 days (all we have)−0.499%−$50 · spread now +0.053%, 7d avg −0.071%

Together, before fees−0.620%+ Points / potential airdropHyperliquid: Season 2 · farm board−$62 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.125% dearer against BloFin than usual: you sell high and buy low (spread +0.053% now, against its 7-day average of −0.071%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 16 days. At the pace of the last 7 days (−0.122% in total) that is about 7.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ALT-USDT	0.007489	0.0126	pay 0.0063% / 4h	2h 25m	$172K	$9K	50x
Short	Hyperliquid ALT	0.007493	0.0100	get 0.0013% / 1h	25m 17s	$1.1M	$187K	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

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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$5.4
Price spread: +0.053% → −0.071%: $12.47
Slippage, 4 orders: −$59.5
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$73.43
Costs to cover: 0.805%
Break-even: never at this rate

Slippage from BloFin: live order book, 56 min ago; Hyperliquid: live order book, 5 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, 56 min ago	2.67 bp	16.4 bp −$16	61.2 bp −$612	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	2.01 bp	19.1 bp −$19	doesn't fit	doesn't fit	doesn't fit

ALT 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
Bybit ALTUSDT	−0.0462%	4h	0.007503	+0.187%	$1.2M	$1.6M	25x	as long as short
Variational Omni ALT	−0.0424%	4h	0.007491	+0.023%	$4K	$12K	—	as long as short
Deribit ALT_USDC-PERPETUAL	0.0000%	1h	0.007509	+0.267%	—	$0	25x	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−1.442%	$815	$4K	5.5x	as long as short
Hyperliquid ALTshort	+0.0100%	1h	0.007493	+0.053%	$1.1M	$187K	3x
Binance ALTUSDT	+0.0100%	4h	0.007502	+0.172%	$2.6M	$3.5M	50x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007492	+0.040%	$51K	$415K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007503	+0.187%	$401K	$196K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007501	+0.160%	$150K	$22K	30x	as long as short
Bitget ALTUSDT	+0.0100%	4h	0.007487	−0.027%	$615K	$100K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ALT-USDT	+0.0100%	4h	0.007493	+0.053%	—	$1.3M	—	as long as short
BloFin ALT-USDTlong	+0.0126%	4h	0.007489	long leg	$172K	$9K	50x
Kraken Futures PF_ALTUSD	+0.0200%	1h	0.007515	+0.353%	$44K	$8K	10x	as long as short
Coinbase International ALT-PERP-INTX	+0.0384%	1h	0.007512	+0.307%	$14K	$2K	50x	as long as short