Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: KuCoin against Hyperliquid+0.244%7-day average +0.144% · you sell dearer than you buy

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

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.391%+$39 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.244%, 7d avg +0.144%

Together, before fees+0.280%+ Points / potential airdropHyperliquid: Season 2 · farm board+$28 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: KuCoin is 0.100% dearer against Hyperliquid than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.144%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid STABLE	0.02457	0.0100	pay 0.0013% / 1h	53m 06s	$865K	$165K	3x
Short	KuCoin STABLEUSDTM	0.02463	0.0100	get 0.0050% / 4h	3h 53m	$183K	$29K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpOrdersPrice spread, now +0.244%Rate

Funding earned: $0
Price spread: +0.244% → +0.144%: $10.02
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$10.98
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 67 min ago; KuCoin: live order book, 38 min ago. 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, 67 min ago	2.87 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 38 min ago	14.32 bp	233.3 bp −$233	doesn't fit	doesn't fit	doesn't fit

STABLE 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
BloFin STABLE-USDT	+0.0057%	4h	0.02454	−0.122%	$113K	$10K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02469	+0.488%	$113K	$10K	3x	as long as short
Hyperliquid STABLElong	+0.0100%	1h	0.02457	long leg	$865K	$165K	3x
Aster STABLEUSDT	+0.0100%	4h	0.02456	−0.057%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02457	−0.006%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02458	+0.041%	$1.5M	$764K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02459	+0.081%	$211K	$450K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02456	−0.041%	$177K	$56K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02456	−0.041%	$592K	$158K	20x	as long as short
KuCoin STABLEUSDTMshort	+0.0100%	4h	0.02463	+0.244%	$183K	$29K	30x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02457	0.000%	$283K	$90K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02456	−0.041%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02468	+0.451%	$145K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02459	+0.073%	$2K	$945K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02456	−0.034%	$12K	$211K	10x	as long as short