Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Hyperliquid+0.033%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$770.767% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.033%, 7d avg −0.033%

Together, before fees−0.092%+ Points / potential airdropHyperliquid: Season 2 · farm board−$9 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: Binance is 0.066% dearer against Hyperliquid than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRB	19.039	0.0100	pay 0.0013% / 1h	20m 12s	$474K	$269K	3x
Short	Binance TRBUSDT	19.045	0.0100	get 0.0050% / 4h	2h 20m	$5.0M	$11.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → −0.033%: $6.6
Slippage, 4 orders: −$57.69
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$70.09
Costs to cover: 0.767%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 59 min ago; Binance: live order book, 5 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 Hyperliquid live order book, 59 min ago	1.30 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	1.32 bp	20.2 bp −$20	61.3 bp −$613	doesn't fit	doesn't fit

TRB 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
Hyperliquid TRBlong	+0.0100%	1h	19.039	long leg	$474K	$269K	3x
Aster TRBUSDT	+0.0100%	4h	18.999	−0.209%	$7K	$25K	5x	as long as short
Binance TRBUSDTshort	+0.0100%	4h	19.045	+0.033%	$5.0M	$11.7M	50x
Bybit TRBUSDT	+0.0100%	4h	19.055	+0.084%	$6.2M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.050	+0.058%	$4.3M	$5.3M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.039	0.000%	$15.2M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.015	−0.126%	$1.2M	$332K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.055	+0.084%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.034	−0.026%	—	$18.2M	—	as long as short
Variational Omni TRB	+0.0100%	4h	18.987	−0.272%	$15K	$4K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRB_USDT	+0.0116%	4h	19.040	+0.005%	$589K	$2.2M	50x	as long as short
BloFin TRB-USDT	+0.0152%	4h	18.985	−0.284%	$355K	$166K	50x	as long as short
Kraken Futures PF_TRBUSD	+0.1246%	1h	19.072	+0.171%	$102K	$51K	10x	as long as short