Funding arb · Price arb /

BLUR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Bybit−0.015%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$254as in the Funding arb table

Net, price: spread back to 7d avg − costs−$247as in the Price arb table

costs, in and out, $10k−$2522.521% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 7 days−0.170%−$17 · spread now −0.015%, 7d avg −0.062%

Together, before fees−0.191%+ Points / potential airdropHyperliquid: Season 2 · farm board−$19 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: Hyperliquid is 0.047% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BLURUSDT	0.01985	0.0100	pay 0.0100% / 8h	7h 15m	$1.2M	$904K	25x
Short	Hyperliquid BLUR	0.01985	0.0100	get 0.0013% / 1h	15m 21s	$1.3M	$418K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee HyperliquidbpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → −0.062%: $4.65
Slippage, 4 orders: −$232.1
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$247.45
Costs to cover: 2.521%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 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 Bybit live order book, 5 min ago	3.03 bp	103.9 bp −$104	208.6 bp −$2,086	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	1.01 bp	29.4 bp −$29	doesn't fit	doesn't fit	doesn't fit

BLUR on 15 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 BLUR/USDC PERP	+0.0033%	1h	0.01998	+0.645%	$1K	$212	5.5x	as long as short
Hyperliquid BLURshort	+0.0100%	1h	0.01985	−0.015%	$1.3M	$418K	3x
Aster BLURUSDT	+0.0100%	4h	0.01984	−0.049%	$5K	$4K	5x	as long as short
Binance BLURUSDT	+0.0100%	4h	0.01986	+0.040%	$2.0M	$3.6M	50x	as long as short
Bybit BLURUSDTlong	+0.0100%	8h	0.01985	long leg	$1.2M	$904K	25x
OKX BLUR-USDT-SWAP	+0.0100%	4h	0.01987	+0.091%	$991K	$1.6M	20x	as long as short
Gate BLUR_USDT	+0.0100%	4h	0.01989	+0.191%	$799K	$220K	50x	as long as short
MEXC BLUR_USDT	+0.0100%	4h	0.01986	+0.040%	$992K	$113K	20x	as long as short
KuCoin BLURUSDTM	+0.0100%	4h	0.01986	+0.040%	$569K	$127K	30x	as long as short
Bitget BLURUSDT	+0.0100%	4h	0.01985	−0.010%	$776K	$524K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BLUR-USDT	+0.0100%	4h	0.01986	+0.040%	—	$3.4M	—	as long as short
Variational Omni BLUR	+0.0100%	8h	0.01987	+0.086%	$1K	$849	—	as long as short
BloFin BLUR-USDT	+0.0160%	4h	0.01984	−0.060%	$280K	$3K	50x	as long as short
dYdX BLUR-USD	+0.0540%	1h	0.01983	−0.125%	$25K	$328	5x	as long as short
Kraken Futures PF_BLURUSD	+0.2667%	1h	0.01994	+0.464%	$11K	$7K	10x	as long as short