Funding arb · Price arb /

PEOPLE

all PEOPLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0233%/8h= +25.5% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Gate+0.032%7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$840.836% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.218%+$22 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now +0.032%, 7d avg −0.049%

Together, before fees+0.329%+ Points / potential airdropHyperliquid: Season 2 · farm board+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Hyperliquid is 0.081% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PEOPLE_USDT	0.009290	−0.0133	get 0.0133% / 8h	2h 53m	$717K	$1.6M	50x
Short	Hyperliquid PEOPLE	0.009293	0.0100	get 0.0013% / 1h	53m 44s	$487K	$287K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.032%Rate

Funding earned: $48.93
Price spread: +0.032% → −0.049%: $8.15
Slippage, 4 orders: −$59.57
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$26.5
Costs to cover: 0.836%
Break-even: 10.8 days

Slippage from Gate: live order book, 4 min ago; Hyperliquid: live order book, 16 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 Gate live order book, 4 min ago	4.82 bp	21.5 bp −$21	197.0 bp −$1,970	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 16 min ago	0.54 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit

PEOPLE on 15 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
Kraken Futures PF_PEOPLEUSD	−0.0592%	1h	0.009284	−0.061%	$36K	$47K	10x	as long as short
Gate PEOPLE_USDTlong	−0.0133%	8h	0.009290	long leg	$717K	$1.6M	50x
Variational Omni PEOPLE	−0.0035%	8h	0.009317	+0.295%	$7K	$3K	—	as long as short
KuCoin PEOPLEUSDTM	+0.0029%	8h	0.009288	−0.022%	$663K	$160K	50x	as long as short
BloFin PEOPLE-USDT	+0.0083%	8h	0.009313	+0.248%	$362K	$105K	50x	as long as short
Bybit PEOPLEUSDT	+0.0090%	8h	0.009277	−0.140%	$1.7M	$2.7M	50x	as long as short
Hyperliquid PEOPLEshort	+0.0100%	1h	0.009293	+0.032%	$487K	$287K	3x
Aster PEOPLEUSDT	+0.0100%	8h	0.009293	+0.033%	$10K	$93K	5x	as long as short
Binance PEOPLEUSDT	+0.0100%	8h	0.009288	−0.022%	$5.8M	$17.9M	50x	as long as short
OKX PEOPLE-USDT-SWAP	+0.0100%	8h	0.009286	−0.043%	$3.4M	$9.4M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PEOPLE_USDT	+0.0100%	8h	0.009280	−0.108%	$694K	$310K	200x	as long as short
Bitget PEOPLEUSDT	+0.0100%	8h	0.009286	−0.043%	$1.8M	$1.3M	50x	as long as short
BingX PEOPLE-USDT	+0.0100%	8h	0.009286	−0.043%	—	$7.5M	—	as long as short
HTX PEOPLE-USDT	+0.0100%	8h	0.009289	−0.011%	$44K	$50K	50x	as long as short
Extended PEOPLE-USD	+0.0104%	1h	0.009289	−0.016%	$186	—	5x	as long as short