Funding arb · Price arb /

AZTEC

all AZTEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.005%

Price spread now: BingX against Hyperliquid+0.038%7-day average −0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$850.852% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.353%−$35 on $10k

Price spread, last 7 days−0.104%−$10 · spread now +0.038%, 7d avg −0.072%

Together, before fees−0.458%+ Points / potential airdropHyperliquid: Season 2 · farm board−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.110% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.072%): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.7 days. At the pace of the last 7 days (−0.353% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AZTEC	0.01587	0.0100	pay 0.0013% / 1h	12m 00s	$1.1M	$1.2M	3x
Short	BingX AZTEC-USDT	0.01588	0.0036	get 0.0018% / 4h	3h 12m	—	$1.6M	—

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 +0.038%Rate

Funding earned: −$13.44
Price spread: +0.038% → −0.072%: $10.99
Slippage, 4 orders: −$66.24
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$87.69
Costs to cover: 0.852%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; BingX: 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 Hyperliquid live order book, 8 min ago	1.57 bp	15.7 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	9.43 bp	14.4 bp −$14	61.8 bp −$618	578.1 bp −$57.8K	1037.7 bp −$518.9K

AZTEC 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
BingX AZTEC-USDTshort	+0.0036%	4h	0.01588	+0.038%	—	$1.6M	—
BloFin AZTEC-USDT	+0.0053%	4h	0.01591	+0.227%	$92K	$33K	25x	as long as short
Lighter AZTEC	+0.0096%	1h	0.01588	+0.031%	$56K	$100K	3x	as long as short
Hyperliquid AZTEClong	+0.0100%	1h	0.01587	long leg	$1.1M	$1.2M	3x
Aster AZTECUSDT	+0.0100%	4h	0.01588	+0.053%	$9K	$24K	5x	as long as short
Binance AZTECUSDT	+0.0100%	4h	0.01587	−0.025%	$1.9M	$4.4M	25x	as long as short
Bybit AZTECUSDT	+0.0100%	4h	0.01586	−0.088%	$1.5M	$1.3M	25x	as long as short
OKX AZTEC-USDT-SWAP	+0.0100%	4h	0.01587	−0.025%	$325K	$938K	20x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01587	−0.025%	$295K	$427K	25x	as long as short
MEXC AZTEC_USDT	+0.0100%	4h	0.01587	−0.025%	$238K	$119K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AZTECUSDTM	+0.0100%	4h	0.01590	+0.164%	$287K	$315K	20x	as long as short
Bitget AZTECUSDT	+0.0100%	4h	0.01589	+0.101%	$363K	$318K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01589	+0.083%	$63K	$65K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01587	−0.022%	$56K	$449K	5x	as long as short