Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h −0.057%

Price spread now: BingX against Hyperliquid−0.069%7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.184%−$18 on $10k

Price spread, last 7 days+0.017%+$2 · spread now −0.069%, 7d avg −0.113%

Together, before fees−0.166%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.045% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.069% now, against its 7-day average of −0.113%): +$4 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 11 days. At the pace of the last 7 days (−0.184% in total) that is about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ARB	0.2189	0.0100	pay 0.0013% / 1h	58m 58s	$36.7M	$49.7M	10x
Short	BingX ARB-USDT	0.2188	0.0087	get 0.0087% / 8h	7h 58m	—	$32.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$2.73
Price spread: −0.069% → −0.113%: $4.46
Slippage, 4 orders: −$7.31
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$24.58
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; BingX: live order book, 10 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, 4 min ago	0.46 bp	7.6 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	0.92 bp	5.9 bp −$6	7.6 bp −$76	15.5 bp −$1,548	23.2 bp −$11.6K

ARB on 36 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
Injective ARB/USDC PERP	−0.1605%	1h	0.2174	−0.703%	$39K	$372K	12x	as long as short
SoDEX ARB-USD	−0.0204%	1h	0.2187	−0.110%	$9K	$2.2M	5x	as long as short
Kraken Futures PF_ARBUSD	−0.0169%	1h	0.2188	−0.057%	$1.1M	$4.3M	50x	as long as short
01 Exchange ARBUSD	−0.0128%	1h	0.2187	−0.110%	$7K	$236	10x	as long as short
OKX ARB-USDT-SWAP	−0.0070%	8h	0.2188	−0.050%	$22.0M	$145.1M	50x	as long as short
MEXC ARB_USDT	−0.0070%	8h	0.2188	−0.050%	$41.9M	$62.2M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0040%	8h	0.2188	−0.064%	$16K	$410K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0024%	1h	0.2188	−0.078%	$28K	$38K	25x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2188	−0.078%	$65K	$4K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2187	−0.103%	$350K	$3.1M	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ARBUSDT	+0.0002%	8h	0.2188	−0.059%	$63.1M	$299.1M	75x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2188	−0.067%	$73K	—	150x	as long as short
Gate ARB_USDT	+0.0022%	8h	0.2188	−0.046%	$5.4M	$18.0M	60x	as long as short
Variational Omni ARB	+0.0029%	8h	0.2187	−0.125%	$1.8M	$3.0M	—	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2188	−0.061%	$139K	$7K	3x	as long as short
Bitget ARBUSDT	+0.0087%	8h	0.2188	−0.064%	$21.1M	$34.6M	50x	as long as short
BingX ARB-USDTshort	+0.0087%	8h	0.2188	−0.069%	—	$32.9M	—
Lighter ARB	+0.0096%	1h	0.2187	−0.123%	$1.3M	$5.3M	15x	as long as short
BloFin ARB-USDT	+0.0099%	8h	0.2187	−0.100%	$3.0M	$2.3M	75x	as long as short
Hyperliquid ARBlong	+0.0100%	1h	0.2189	long leg	$36.7M	$49.7M	10x
Aster ARBUSDT	+0.0100%	8h	0.2188	−0.046%	$626K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2189	−0.038%	$43K	$146K	10x	as long as short
Bybit ARBUSDT	+0.0100%	8h	0.2188	−0.073%	$53.3M	$125.9M	50x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2188	−0.041%	$19.5M	$13.9M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2181	−0.382%	$39K	$466K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2186	−0.174%	$464K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2184	−0.247%	$118K	$268K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2188	−0.064%	$73K	$2.1M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2189	−0.018%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2187	−0.119%	$293K	$836K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2187	−0.110%	$4.8M	$12.8M	50x	as long as short
RISEx ARB/USDC	+0.0123%	1h	0.2189	−0.021%	$511K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0225%	1h	0.2190	+0.050%	$979K	$2.8M	20x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0277% / S −0.0160%	1h	0.2188	−0.075%	$829K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0288%	1h	0.2186	−0.148%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTX	+0.0336%	1h	0.2190	+0.027%	$514K	$1.5M	50x	as long as short