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Funding arb · Price arb /

HEMI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 06:00 UTC−0.1194%/8h= −130.7% APRpaid last 24h −0.057%
Price spread now: BingX against Hyperliquid−0.031%7-day average −0.077% · you buy dearer than you sell
Net, funding: paid 7d − costs−$128as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$790.787% of the position
Long on HyperliquidShort on BingX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.489%−$49 on $10k
Price spread, last 7 days−0.177%−$18 · spread now −0.031%, 7d avg −0.077%
Together, before fees−0.667%+ Points / potential airdropHyperliquid: Season 2 · farm board−$67 on $10k · with fees, hour by hour
The price spread pays, funding is against you. BingX is 0.046% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.031% now, against its 7-day average of −0.077%): +$5 on $10k if it goes back. Holding the pair costs −$36 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.489% in total) that is about 16 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.489% in total (about -25.5% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid HEMI0.0065390.1382pay 0.0173% / 1h57m 18s$1.0M$366K3x
ShortBingX HEMI-USDT0.0065370.0188get 0.0094% / 4h2h 57m—$1.4M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX 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

Funding earned
−$250.72
Price spread: −0.031% → −0.077%
$4.61
Slippage, 4 orders
−$59.67
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee BingX: 5 bp × 2 orders
−$10
Net
−$324.78
Costs to cover
0.787%
Break-even
never at this rate
Slippage from Hyperliquid: live order book, 3 min ago; BingX: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 3 min ago1.54 bp18.9 bp −$19doesn't fitdoesn't fitdoesn't fit
Sell BingX live order book, 4 min ago3.86 bp22.0 bp −$2281.6 bp −$816doesn't fitdoesn't fit

HEMI on 12 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit HEMIUSDT+0.0100%4h0.006529−0.153%$1.7M$1.5M25xas long as short
Gate HEMI_USDT+0.0100%4h0.006518−0.321%$513K$272K20xas long as short
KuCoin HEMIUSDTM+0.0100%4h0.006537−0.031%$840K$1.7M20xas long as short
Variational Omni HEMI+0.0100%4h0.006474−0.988%$23K$3K—as long as short
SunX HEMI-USDT+0.0100%4h0.006680+2.156%$2K$1.2M20xas long as short
BloFin HEMI-USDT+0.0171%4h0.006536−0.046%$364K$52K20xas long as short
Aster HEMIUSDT+0.0178%4h0.006521−0.274%$75K$47K5xas long as short
MEXC HEMI_USDT+0.0188%4h0.006537−0.031%$1.7M$274K50xas long as short
BingX HEMI-USDTshort+0.0188%4h0.006537−0.031%—$1.4M—
Binance HEMIUSDT+0.0189%4h0.006538−0.012%$6.6M$10.7M20xas long as short
Show all 12 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Extended HEMI-USD+0.0192%1h0.006534−0.073%$17K—5xas long as short
Hyperliquid HEMIlong+0.1382%1h0.006539long leg$1.0M$366K3x