Funding arb · Price arb /

GRASS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h +0.174%

Price spread now: Hyperliquid against BingX+0.219%7-day average +0.187% · you sell dearer than you buy

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

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.477%+$48 on $10k

Price spread, last 7 days+0.017%+$2 · spread now +0.219%, 7d avg +0.187%

Together, before fees+0.494%+ Points / potential airdropHyperliquid: Season 2 · farm board+$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.032% dearer against BingX than usual: you sell high and buy low (spread +0.219% now, against its 7-day average of +0.187%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 44 hours. Mind the row above: over the last 7 days funding on this pair paid +0.477%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX GRASS-USDT	0.4475	0.0358	pay 0.0179% / 4h	2h 37m	—	$7.0M	—
Short	Hyperliquid GRASS	0.4485	0.0300	get 0.0037% / 1h	37m 12s	$16.5M	$2.4M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.219%Rate

Funding earned: −$12.24
Price spread: +0.219% → +0.187%: $3.23
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$28.02
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 6 min ago; Hyperliquid: live order book, 6 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 BingX live order book, 6 min ago	5.69 bp	27.6 bp −$28	67.5 bp −$675	351.7 bp −$35.2K	574.4 bp −$287.2K
Sell Hyperliquid live order book, 6 min ago	5.73 bp	19.8 bp −$20	doesn't fit	doesn't fit	doesn't fit

GRASS on 17 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
Reya GRASSRUSDPERP	−0.0114%	1h	0.4458	−0.387%	$670	—	15x	as long as short
Bybit GRASSUSDT	+0.0100%	4h	0.4468	−0.147%	$24.9M	$10.2M	25x	as long as short
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4476	+0.022%	$3.2M	$6.8M	20x	as long as short
Gate GRASS_USDT	+0.0100%	4h	0.4467	−0.179%	$1.2M	$1.1M	50x	as long as short
KuCoin GRASSUSDTM	+0.0100%	4h	0.4470	−0.112%	$1.5M	$924K	50x	as long as short
Bitget GRASSUSDT	+0.0100%	4h	0.4474	−0.018%	$5.2M	$1.9M	75x	as long as short
Variational Omni GRASS	+0.0100%	4h	0.4399	−1.709%	$2.1M	$1.1M	—	as long as short
Hyperliquid GRASSshort	+0.0300%	1h	0.4485	+0.219%	$16.5M	$2.4M	3x
BloFin GRASS-USDT	+0.0311%	4h	0.4478	+0.067%	$579K	$261K	20x	as long as short
MEXC GRASS_USDT	+0.0358%	4h	0.4469	−0.134%	$1.5M	$1.1M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX GRASS-USDTlong	+0.0358%	4h	0.4475	long leg	—	$7.0M	—
Extended GRASS-USD	+0.0368%	1h	0.4462	−0.284%	$220K	$823K	10x	as long as short
Binance GRASSUSDT	+0.0368%	4h	0.4477	+0.049%	$10.9M	$13.9M	75x	as long as short
Lighter GRASS	+0.1464%	1h	0.4480	+0.118%	$705K	$522K	5x	as long as short
Kraken Futures PF_GRASSUSD	+0.1507%	1h	0.4467	−0.187%	$169K	$70K	20x	as long as short
Aster GRASSUSDT	+0.1534%	4h	0.4469	−0.134%	$64K	$119K	10x	as long as short
Injective GRASS/USDC PERP	+0.5000%	1h	0.4267	−4.648%	$7	$23K	5.5x	as long as short