Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: KuCoin against Hyperliquid0.000%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$616as in the Funding arb table

Net, price: spread back to 7d avg − costs−$638as in the Price arb table

costs, in and out, $10k−$6316.307% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.144%+$14 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now 0.000%, 7d avg +0.073%

Together, before fees+0.159%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 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: KuCoin is 0.073% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ALT	0.007474	0.0100	pay 0.0013% / 1h	9m 24s	$1.1M	$186K	3x
Short	KuCoin ALTUSDTM	0.007474	0.0100	get 0.0050% / 4h	2h 09m	$149K	$22K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.073%: −$7.29
Slippage, 4 orders: −$609.68
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$637.97
Costs to cover: 6.307%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; KuCoin: live order book, 69 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, 11 min ago	2.00 bp	27.3 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 69 min ago	18.00 bp	235.7 bp −$236	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
Variational Omni ALT	−0.0339%	4h	0.007461	−0.176%	$4K	$12K	—	as long as short
Deribit ALT_USDC-PERPETUAL	−0.0285%	1h	0.007473	−0.013%	—	$0	25x	as long as short
Bybit ALTUSDT	−0.0260%	4h	0.007469	−0.067%	$1.2M	$1.6M	25x	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−1.244%	$815	$4K	5.5x	as long as short
BloFin ALT-USDT	+0.0083%	4h	0.007471	−0.040%	$172K	$9K	50x	as long as short
Hyperliquid ALTlong	+0.0100%	1h	0.007474	long leg	$1.1M	$186K	3x
Binance ALTUSDT	+0.0100%	4h	0.007474	−0.007%	$2.6M	$3.5M	50x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007475	+0.013%	$51K	$418K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007473	−0.013%	$393K	$198K	50x	as long as short
KuCoin ALTUSDTMshort	+0.0100%	4h	0.007474	0.000%	$149K	$22K	30x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ALTUSDT	+0.0100%	4h	0.007462	−0.161%	$613K	$100K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007471	−0.040%	—	$1.3M	—	as long as short
Kraken Futures PF_ALTUSD	+0.0201%	1h	0.007482	+0.112%	$44K	$8K	10x	as long as short
Coinbase International ALT-PERP-INTX	+0.0384%	1h	0.007486	+0.161%	$14K	$3K	50x	as long as short