Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Binance−0.068%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$880.878% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.130%−$13 on $10k

Price spread, last 7 days+0.057%+$6 · spread now −0.068%, 7d avg −0.032%

Together, before fees−0.073%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.036% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IOUSDT	0.1510	0.0100	pay 0.0050% / 4h	51m 07s	$3.0M	$6.6M	50x
Short	Hyperliquid IO	0.1509	0.0100	get 0.0013% / 1h	51m 07s	$1.0M	$373K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now −0.068%Rate

Funding earned: $0
Price spread: −0.068% → −0.032%: −$3.6
Slippage, 4 orders: −$68.84
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$91.44
Costs to cover: 0.878%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; Hyperliquid: live order book, 9 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 Binance live order book, 2 min ago	3.30 bp	20.7 bp −$21	93.1 bp −$931	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.99 bp	24.1 bp −$24	doesn't fit	doesn't fit	doesn't fit

IO on 14 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 IO-USDT	+0.0049%	4h	0.1508	−0.134%	$192K	$39K	50x	as long as short
Hyperliquid IOshort	+0.0100%	1h	0.1509	−0.068%	$1.0M	$373K	3x
Aster IOUSDT	+0.0100%	4h	0.1509	−0.063%	$23K	$49K	5x	as long as short
Binance IOUSDTlong	+0.0100%	4h	0.1510	long leg	$3.0M	$6.6M	50x
Bybit IOUSDT	+0.0100%	4h	0.1506	−0.267%	$1.1M	$913K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1509	−0.055%	$230K	$545K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1507	−0.201%	$1.2M	$227K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1510	−0.002%	$360K	$656K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1510	−0.002%	$1.3M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1509	−0.068%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1506	−0.284%	$33K	$13K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1508	−0.162%	$2K	$134K	5x	as long as short
Injective IO/USDC PERP	+0.0583%	1h	0.1512	+0.130%	$2K	$199	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.7541%	1h	0.1497	−0.832%	$39K	$18K	10x	as long as short