Funding arb · Price arb /

HEMI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0671%/8h= −73.5% APRpaid last 24h −0.067%

Price spread now: Aster against Hyperliquid−0.199%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Aster is 0.199% cheaper against Hyperliquid than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.090% in total (about -4.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HEMI	0.006535	0.0771	pay 0.0096% / 1h	52m 06s	$1.0M	$348K	3x
Short	Aster HEMIUSDT	0.006522	0.0100	get 0.0050% / 4h	52m 06s	$75K	$48K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.199%Rate

Funding earned: −$140.99
Price spread: −0.199% → 0.000%: −$19.89
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$177.88
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 8 min ago; Aster: no order-book sample. 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	1.54 bp	16.0 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HEMI on 12 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
Aster HEMIUSDTshort	+0.0100%	4h	0.006522	−0.199%	$75K	$48K	5x
Bybit HEMIUSDT	+0.0100%	4h	0.006523	−0.184%	$1.7M	$1.5M	25x	as long as short
KuCoin HEMIUSDTM	+0.0100%	4h	0.006543	+0.122%	$847K	$1.7M	20x	as long as short
Variational Omni HEMI	+0.0100%	4h	0.006559	+0.366%	$23K	$3K	—	as long as short
SunX HEMI-USDT	+0.0100%	4h	0.006677	+2.173%	$1K	$1.2M	20x	as long as short
Extended HEMI-USD	+0.0168%	1h	0.006528	−0.104%	$17K	—	5x	as long as short
Binance HEMIUSDT	+0.0172%	4h	0.006530	−0.077%	$6.5M	$10.8M	20x	as long as short
MEXC HEMI_USDT	+0.0174%	4h	0.006531	−0.061%	$1.7M	$283K	50x	as long as short
BingX HEMI-USDT	+0.0176%	4h	0.006527	−0.122%	—	$1.4M	—	as long as short
BloFin HEMI-USDT	+0.0209%	4h	0.006549	+0.214%	$359K	$57K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HEMI_USDT	+0.0288%	4h	0.006530	−0.077%	$508K	$277K	20x	as long as short
Hyperliquid HEMIlong	+0.0771%	1h	0.006535	long leg	$1.0M	$348K	3x