Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: edgeX against Hyperliquid−0.523%66s7-day average −0.172% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.352% of the position

Long on Hyperliquid Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.144%−$14 on $10k

Price spread, last 4 days (all we have)+0.698%+$70 · spread now −0.523%, 7d avg −0.172%

Together, before fees+0.553%+ Points / potential airdropHyperliquid: Season 2 · edgeX: Active · farm board+$55 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: edgeX is 0.351% cheaper against Hyperliquid than usual: you would sell low and buy high, −$35 on $10k if it goes back to its 7-day average of −0.172%. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid FIL	1.0048	0.0100	pay 0.0013% / 1h	54m 16s	$8.5M	$9.4M	5x
Short	edgeX FILUSDC	0.9995	0.0100	get 0.0050% / 4h	3h 54m	$45K	$295K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.523%Rate

Funding earned: $0
Price spread: −0.523% → −0.172%: −$35.15
Slippage, 4 orders: −$17.2
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$70.35
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; edgeX: live order book, 64 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	1.00 bp	8.6 bp −$9	20.9 bp −$209	doesn't fit	doesn't fit
Sell edgeX live order book, 64 min ago	3.51 bp	8.5 bp −$8	96.3 bp −$963	doesn't fit	doesn't fit

FIL on 29 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
Deribit FIL_USDC-PERPETUAL	−0.0446%	1h	1.0049	+0.010%	$173K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0240%	1h	1.0058	+0.100%	$368K	$2.1M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0025%	8h	1.0040	−0.080%	$18.6M	$105.9M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	1.0048	0.000%	$26K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	1.0045	−0.025%	$59K	$2K	10x	as long as short
KuCoin FILUSDTM	+0.0012%	8h	1.0046	−0.020%	$7.4M	$7.6M	50x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−1.921%	$2K	$240K	12x	as long as short
Kraken Futures PF_FILUSD	+0.0066%	1h	1.0051	+0.028%	$1.4M	$2.3M	50x	as long as short
Lighter FIL	+0.0096%	1h	1.0041	−0.070%	$155K	$354K	5x	as long as short
Hyperliquid FILlong	+0.0100%	1h	1.0048	long leg	$8.5M	$9.4M	5x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster FILUSDT	+0.0100%	8h	1.0052	+0.040%	$515K	$608K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	1.0044	−0.038%	$57.8M	$183.7M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	1.0042	−0.060%	$15.9M	$20.2M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	1.0046	−0.020%	$8.5M	$16.6M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	1.0040	−0.080%	$243K	$102K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	1.0043	−0.050%	$11.2M	$20.3M	75x	as long as short
BingX FIL-USDT	+0.0100%	8h	1.0042	−0.060%	—	$11.8M	—	as long as short
Variational Omni FIL	+0.0100%	8h	1.0017	−0.311%	$451K	$264K	—	as long as short
edgeX FILUSDCshort	+0.0100%	4h	0.9995	−0.523%	$45K	$295K	10x
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9997	−0.511%	$289K	$1.0M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	1.0000	−0.478%	$30K	$181K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	1.0055	+0.070%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	1.0040	−0.080%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	1.0042	−0.060%	$488	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	1.0052	+0.040%	$628K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	1.0040	−0.080%	$1.2M	$2.5M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	1.0042	−0.061%	$707K	$3.3M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	1.0021	−0.269%	$2.7M	$668K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0575% / S −0.0237%	1h	1.0046	−0.022%	$268K	—	100x	as long as short