Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Gate against Hyperliquid+0.051%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

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

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.051% dearer against Hyperliquid than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid INIT	0.08246	0.0100	pay 0.0013% / 1h	45m 38s	$300K	$230K	3x
Short	Gate INIT_USDT	0.08250	0.0100	get 0.0100% / 8h	5h 45m	$84K	$55K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → 0.000%: $5.09
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$18.91
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 54 min ago; Gate: 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, 54 min ago	1.14 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Gate no order-book sample	—	—	—	—	—

Gate: 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.

INIT on 13 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
BloFin INIT-USDT	+0.0069%	4h	0.08242	−0.046%	—	$111K	25x	as long as short
Hyperliquid INITlong	+0.0100%	1h	0.08246	long leg	$300K	$230K	3x
Aster INITUSDT	+0.0100%	4h	0.08251	+0.066%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08245	−0.009%	$3.4M	$3.7M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08241	−0.058%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08245	−0.010%	$137K	$665K	10x	as long as short
Gate INIT_USDTshort	+0.0100%	8h	0.08250	+0.051%	$84K	$55K	25x
MEXC INIT_USDT	+0.0100%	4h	0.08246	+0.002%	$447K	$210K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08247	+0.015%	$327K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08253	+0.087%	$428K	$312K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08246	+0.002%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08236	−0.124%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSD	+0.0242%	1h	0.08198	−0.576%	$3K	$19K	10x	as long as short