Funding arb · Price arb /

BLUR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Hyperliquid−0.095%7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$970.969% of the position

Long on Hyperliquid Short on Binance

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+0.090%+$9 · spread now −0.095%, 7d avg +0.043%

Together, before fees+0.160%+ 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: Binance is 0.138% cheaper against Hyperliquid than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BLUR	0.01979	0.0100	pay 0.0013% / 1h	49m 29s	$1.3M	$440K	3x
Short	Binance BLURUSDT	0.01977	0.0100	get 0.0050% / 4h	49m 29s	$2.0M	$3.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.095%Rate

Funding earned: $0
Price spread: −0.095% → +0.043%: −$13.79
Slippage, 4 orders: −$77.89
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$110.68
Costs to cover: 0.969%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 1 min ago; Binance: live order book, 2 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, 1 min ago	1.77 bp	9.7 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	2.52 bp	22.5 bp −$23	112.9 bp −$1,129	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
dYdX BLUR-USD	0.0000%	1h	0.01988	+0.455%	$26K	$328	5x	as long as short
Injective BLUR/USDC PERP	+0.0033%	1h	0.01998	+0.960%	$1K	$212	5.5x	as long as short
Hyperliquid BLURlong	+0.0100%	1h	0.01979	long leg	$1.3M	$440K	3x
Aster BLURUSDT	+0.0100%	4h	0.01980	+0.047%	$5K	$4K	5x	as long as short
Binance BLURUSDTshort	+0.0100%	4h	0.01977	−0.095%	$2.0M	$3.7M	50x
Bybit BLURUSDT	+0.0100%	8h	0.01978	−0.051%	$1.3M	$1.0M	25x	as long as short
OKX BLUR-USDT-SWAP	+0.0100%	4h	0.01978	−0.051%	$979K	$1.7M	20x	as long as short
MEXC BLUR_USDT	+0.0100%	4h	0.01977	−0.101%	$1.0M	$115K	20x	as long as short
KuCoin BLURUSDTM	+0.0100%	4h	0.01982	+0.152%	$579K	$122K	30x	as long as short
Bitget BLURUSDT	+0.0100%	4h	0.01979	0.000%	$820K	$494K	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	0.01977	−0.101%	—	$13.5M	—	as long as short
Variational Omni BLUR	+0.0100%	8h	0.01983	+0.202%	$1K	$849	—	as long as short
BloFin BLUR-USDT	+0.0144%	4h	0.01984	+0.253%	$364K	$2K	50x	as long as short
Gate BLUR_USDT	+0.0284%	4h	0.01982	+0.152%	$792K	$262K	50x	as long as short
Kraken Futures PF_BLURUSD	+0.5484%	1h	0.01990	+0.544%	$12K	$8K	10x	as long as short