Funding arb · Price arb /

BLUR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Hyperliquid+0.263%7-day average +0.024% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.100%+$10 on $10k

Price spread, last 4 days (all we have)−0.293%−$29 · spread now +0.263%, 7d avg +0.024%

Together, before fees−0.193%+ 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: Bitget is 0.239% dearer against Hyperliquid than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BLUR	0.01981	0.0100	pay 0.0013% / 1h	52m 52s	$1.3M	$401K	3x
Short	Bitget BLURUSDT	0.01986	0.0100	get 0.0050% / 4h	1h 52m	$821K	$420K	50x

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

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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 HyperliquidbpFee BitgetbpOrdersPrice spread, now +0.263%Rate

Funding earned: $0
Price spread: +0.263% → +0.024%: $23.89
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: $2.89
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 8 min ago; Bitget: live order book, 28 min ago. Net counts fees only.

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	2.27 bp	22.1 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 28 min ago	10.02 bp	22.5 bp −$22	130.3 bp −$1,303	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
Kraken Futures PF_BLURUSD	−0.1290%	1h	0.01989	+0.429%	$12K	$7K	10x	as long as short
dYdX BLUR-USD	0.0000%	1h	0.01991	+0.509%	$26K	—	5x	as long as short
Hyperliquid BLURlong	+0.0100%	1h	0.01981	long leg	$1.3M	$401K	3x
Aster BLURUSDT	+0.0100%	4h	0.01987	+0.295%	$4K	$2K	5x	as long as short
Binance BLURUSDT	+0.0100%	4h	0.01984	+0.162%	$2.0M	$3.4M	50x	as long as short
Bybit BLURUSDT	+0.0100%	8h	0.01986	+0.257%	$1.3M	$970K	25x	as long as short
OKX BLUR-USDT-SWAP	+0.0100%	4h	0.01984	+0.162%	$951K	$1.6M	20x	as long as short
Gate BLUR_USDT	+0.0100%	4h	0.01988	+0.363%	$792K	$246K	50x	as long as short
MEXC BLUR_USDT	+0.0100%	4h	0.01983	+0.111%	$1.1M	$116K	20x	as long as short
KuCoin BLURUSDTM	+0.0100%	4h	0.01988	+0.363%	$583K	$97K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BLURUSDTshort	+0.0100%	4h	0.01986	+0.263%	$821K	$420K	50x
BingX BLUR-USDT	+0.0100%	4h	0.01987	+0.313%	—	$13.3M	—	as long as short
Variational Omni BLUR	+0.0100%	8h	0.01989	+0.393%	$1K	$849	—	as long as short
BloFin BLUR-USDT	+0.0125%	4h	0.01983	+0.111%	$348K	$2K	50x	as long as short
Injective BLUR/USDC PERP	+0.0799%	1h	0.01998	+0.868%	$1K	$212	5.5x	as long as short