Funding arb · Price arb /

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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 −0.003%

Price spread now: Bitget against Hyperliquid−0.136%7-day average −0.200% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$760.761% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.136%, 7d avg −0.200%

Together, before fees−0.044%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 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: Bitget is 0.064% dearer against Hyperliquid than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.200%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AR	4.4751	0.0100	pay 0.0013% / 1h	55m 19s	$3.8M	$5.0M	5x
Short	Bitget ARUSDT	4.4690	0.0100	get 0.0100% / 8h	2h 55m	$3.8M	$5.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.136%Rate

Funding earned: $0
Price spread: −0.136% → −0.200%: $6.37
Slippage, 4 orders: −$55.06
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$69.69
Costs to cover: 0.761%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; Bitget: 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, 7 min ago	2.78 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	2.23 bp	27.2 bp −$27	57.5 bp −$575	doesn't fit	doesn't fit

AR on 17 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
Kraken Futures PF_ARUSD	−0.2009%	1h	4.4663	−0.198%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4734	−0.038%	$575K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.165%	$3K	$363	5.5x	as long as short
ApeX Omni ARUSDT	+0.0054%	1h	4.4700	−0.114%	$57K	$748K	50x	as long as short
Binance ARUSDT	+0.0095%	8h	4.4720	−0.069%	$8.8M	$57.2M	75x	as long as short
Extended AR-USD	+0.0096%	1h	4.4665	−0.193%	$36K	$237K	10x	as long as short
MEXC AR_USDT	+0.0097%	8h	4.4720	−0.069%	$6.6M	$4.7M	100x	as long as short
Hyperliquid ARlong	+0.0100%	1h	4.4751	long leg	$3.8M	$5.0M	5x
Aster ARUSDT	+0.0100%	8h	4.4631	−0.268%	$20K	$630K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4708	−0.096%	$4.6M	$9.0M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX AR-USDT-SWAP	+0.0100%	8h	4.4700	−0.114%	$2.2M	$21.0M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4700	−0.114%	$2.5M	$2.3M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.4690	−0.136%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDTshort	+0.0100%	8h	4.4690	−0.136%	$3.8M	$5.7M	75x
BingX AR-USDT	+0.0100%	8h	4.4700	−0.114%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4645	−0.237%	$137K	$173K	—	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4630	−0.270%	$421K	$674K	20x	as long as short