data as of
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Price arb /

INIT

all INIT markets
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Spread before costs (cost unknown: a leg has no order-book sample)−0.065%
7d average−0.010%if it closes, per $10,000$7funding while held, a day−$1.02
Long on BloFinShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBloFin INIT-USDT0.081260.0134pay 0.0067% / 4h1h 08m$159K$107K25x
ShortHyperliquid INIT0.081210.0100get 0.0013% / 1h8m 32s$293K$239K3x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$6.52
Funding while held
−$1.02
Slippage, 4 orders
no order book: not counted
Fee BloFin: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$28.54
Spread needed to break even
0.210%
Slippage unknown: BloFin: live order book, 10 min ago; Hyperliquid: live order book, 42 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0034%
Per $10,000 a day
−$1.02
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BloFin live order book, 10 min ago4.93 bp23.1 bp −$2365.5 bp −$655doesn't fitdoesn't fit
Sell Hyperliquid live order book, 42 min ago1.98 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

INIT price on every exchange

against the cheapest. Click to use as the short leg.
Variational Omni0.08112cheapestBybit0.08117+0.057%Gate0.08117+0.057%KuCoin0.08119+0.082%
Hyperliquid0.08121+0.103%
Aster0.08122+0.117%Kraken Futures0.08123+0.137%BingX0.08124+0.143%Bitget0.08125+0.156%MEXC0.08126+0.168%
BloFin0.08126+0.168%
OKX0.08127+0.180%Binance0.08129+0.199%

INIT on 13 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Variational Omni INIT−0.168%+0.0100%4h$26K$23K—as long as short
Bybit INITUSDT−0.111%+0.0100%4h$1.4M$1.4M25xas long as short
Gate INIT_USDT−0.111%+0.0100%8h$82K$56K25xas long as short
KuCoin INITUSDTM−0.086%+0.0100%4h$323K$57K25xas long as short
Hyperliquid INITshort−0.065%+0.0100%1h$293K$239K3x
Aster INITUSDT−0.051%+0.0100%4h$27K$36K5xas long as short
Kraken Futures PF_INITUSD−0.032%+0.0371%1h$6K$18K10xas long as short
BingX INIT-USDT−0.025%+0.0100%4h—$6.6M—as long as short
Bitget INITUSDT−0.012%+0.0100%4h$424K$313K25xas long as short
MEXC INIT_USDT0.000%+0.0100%4h$440K$216K20xas long as short
Show all 13 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
BloFin INIT-USDTlong0.000%+0.0134%4h$159K$107K25x
OKX INIT-USDT-SWAP+0.012%+0.0100%4h$132K$636K10xas long as short
Binance INITUSDT+0.031%+0.0100%4h$3.4M$3.7M25xas long as short