Funding arb · Price arb /

HBAR

all HBAR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.023%

Price spread now: Phemex against Coinbase International−0.108%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$600.599% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 3 days (all we have)+0.116%+$12 · spread now −0.108%, 7d avg −0.016%

Together, before fees+0.174%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.092% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.108% now, against its 7-day average of −0.016%). If the spread goes back, that is −$9 on $10k: about 8.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HBAR-PERP-INTX	0.09279	0.0064	pay 0.0008% / 1h	4m 36s	$223K	$2.2M	50x
Short	Phemex HBARUSDT	0.09269	0.0100	get 0.0100% / 8h	1h 04m	$2.2M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Coinbase International. 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 Coinbase InternationalbpFee PhemexbpOrdersPrice spread, now −0.108%Rate

Funding earned: $7.56
Price spread: −0.108% → −0.016%: −$9.22
Slippage, 4 orders: −$37.95
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$61.61
Costs to cover: 0.599%
Break-even: 64.0 days

Slippage from Coinbase International: live order book, 4 min ago; Phemex: live order book, 4 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 Coinbase International live order book, 4 min ago	1.62 bp	13.4 bp −$13	20.3 bp −$203	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	3.79 bp	15.4 bp −$15	32.8 bp −$328	doesn't fit	doesn't fit

HBAR on 28 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 HBAR/USDC PERP	−0.0153%	1h	0.09267	−0.129%	$1K	$112K	12x	as long as short
KuCoin HBARUSDTM	−0.0025%	8h	0.09276	−0.032%	$7.4M	$7.8M	75x	as long as short
dYdX HBAR-USD	0.0000%	1h	0.09279	+0.004%	$30K	$4K	5x	as long as short
Gate HBAR_USDT	+0.0004%	8h	0.09277	−0.022%	$2.4M	$3.6M	75x	as long as short
gTrade (Gains Network) HBAR/USD	L +0.0007% / S −0.0014%	1h	0.09273	−0.061%	$8K	—	150x	as long as short
Coinbase International HBAR-PERP-INTXlong	+0.0064%	1h	0.09279	long leg	$223K	$2.2M	50x
Deribit HBAR_USDC-PERPETUAL	+0.0073%	1h	0.09277	−0.022%	$511K	$166K	50x	as long as short
Orderly PERP_HBAR_USDC	+0.0077%	8h	0.09269	−0.108%	$2K	$17K	10x	as long as short
Variational Omni HBAR	+0.0083%	8h	0.09255	−0.256%	$1.0M	$198K	—	as long as short
Lighter HBAR	+0.0096%	1h	0.09278	−0.011%	$569K	$591K	5x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid HBAR	+0.0100%	1h	0.09289	+0.105%	$8.9M	$2.9M	5x	as long as short
Aster HBARUSDT	+0.0100%	8h	0.09280	+0.009%	$212K	$429K	50x	as long as short
Binance HBARUSDT	+0.0100%	8h	0.09276	−0.031%	$34.8M	$110.5M	75x	as long as short
Bybit HBARUSDT	+0.0100%	8h	0.09276	−0.032%	$33.0M	$37.0M	75x	as long as short
OKX HBAR-USDT-SWAP	+0.0100%	8h	0.09276	−0.032%	$6.8M	$25.2M	50x	as long as short
MEXC HBAR_USDT	+0.0100%	8h	0.09276	−0.032%	$25.5M	$22.9M	200x	as long as short
Bitget HBARUSDT	+0.0100%	8h	0.09277	−0.022%	$17.1M	$14.9M	75x	as long as short
BingX HBAR-USDC	+0.0100%	8h	0.09274	−0.054%	—	$6.7M	—	as long as short
Backpack HBAR_USDC_PERP	+0.0100%	1h	0.09273	−0.065%	$34K	$102K	15x	as long as short
GRVT HBAR_USDT_Perp	+0.0100%	8h	0.09241	−0.406%	$376K	$2.1M	10x	as long as short
ApeX Omni HBARUSDT	+0.0100%	1h	0.09246	−0.356%	$148K	$708K	50x	as long as short
SoDEX HBAR-USD	+0.0100%	1h	0.09269	−0.108%	$430	$6K	5x	as long as short
HTX HBAR-USDT	+0.0100%	8h	0.09285	+0.065%	$73K	$53K	20x	as long as short
Phemex HBARUSDTshort	+0.0100%	8h	0.09269	−0.108%	$2.2M	$2.2M	50x
Extended HBAR-USD	+0.0104%	1h	0.09273	−0.060%	$51K	$218K	10x	as long as short
Kraken Futures PF_HBARUSD	+0.0193%	1h	0.09277	−0.023%	$1.4M	$2.2M	50x	as long as short
BloFin HBAR-USDT	+0.0220%	8h	0.09270	−0.097%	$1.5M	$5.5M	90x	as long as short
GMX HBAR/USD [WBTC.b-USDC]	L +0.0448% / S −0.0478%	1h	0.09272	−0.079%	$104K	—	100x	as long as short