Funding arb · Price arb /

COMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Gate−0.071%7-day average +0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$216as in the Funding arb table

Net, price: spread back to 7d avg − costs−$228as in the Price arb table

costs, in and out, $10k−$2162.158% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.152%+$15 · spread now −0.071%, 7d avg +0.049%

Together, before fees+0.152%+ Points / potential airdropHyperliquid: Season 2 · farm board+$15 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 0.120% cheaper against Gate than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate COMP_USDT	22.410	0.0100	pay 0.0100% / 8h	2h 13m	$219K	$83K	25x
Short	Hyperliquid COMP	22.394	0.0100	get 0.0013% / 1h	13m 49s	$840K	$519K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → +0.049%: −$12.01
Slippage, 4 orders: −$191.77
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$227.78
Costs to cover: 2.158%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Hyperliquid: live order book, 6 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 Gate live order book, 2 min ago	11.16 bp	67.8 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	1.78 bp	29.6 bp −$30	doesn't fit	doesn't fit	doesn't fit

COMP on 16 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 COMP/USDC PERP	−0.1289%	1h	22.200	−0.937%	$3K	$12K	12x	as long as short
Deribit COMP_USDC-PERPETUAL	−0.1086%	1h	22.420	+0.045%	$229	$229	50x	as long as short
Kraken Futures PF_COMPUSD	−0.0845%	1h	22.458	+0.215%	$236K	$84K	20x	as long as short
Coinbase International COMP-PERP-INTX	−0.0024%	1h	22.530	+0.535%	$18K	$53K	25x	as long as short
dYdX COMP-USD	0.0000%	1h	22.448	+0.171%	$68K	—	5x	as long as short
Hyperliquid COMPshort	+0.0100%	1h	22.394	−0.071%	$840K	$519K	5x
Binance COMPUSDT	+0.0100%	8h	22.405	−0.021%	$4.2M	$7.9M	75x	as long as short
Bybit COMPUSDT	+0.0100%	8h	22.400	−0.045%	$3.8M	$2.1M	75x	as long as short
OKX COMP-USDT-SWAP	+0.0100%	8h	22.390	−0.089%	$1.6M	$2.3M	20x	as long as short
Gate COMP_USDTlong	+0.0100%	8h	22.410	long leg	$219K	$83K	25x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC COMP_USDT	+0.0100%	8h	22.410	0.000%	$2.7M	$861K	20x	as long as short
KuCoin COMPUSDTM	+0.0100%	8h	22.440	+0.134%	$453K	$102K	30x	as long as short
Bitget COMPUSDT	+0.0100%	8h	22.400	−0.045%	$1.9M	$754K	75x	as long as short
BingX COMP-USDT	+0.0100%	8h	22.460	+0.223%	—	$36.4M	—	as long as short
Variational Omni COMP	+0.0100%	8h	22.414	+0.018%	$15K	$37K	—	as long as short
BloFin COMP-USDT	+0.0120%	8h	22.440	+0.134%	$238K	$149K	20x	as long as short