Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0268%/8h= +29.3% APRpaid last 24h +0.005%

Price spread now: Gate against Hyperliquid+0.120%7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$700.698% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now +0.120%, 7d avg +0.061%

Together, before fees−0.078%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Gate is 0.059% dearer against Hyperliquid than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.061%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.032% in total (about -1.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRB	19.197	0.0100	pay 0.0013% / 1h	3m 20s	$483K	$229K	3x
Short	Gate TRB_USDT	19.220	0.0368	get 0.0184% / 4h	3m 20s	$594K	$1.5M	50x

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 +0.120%Rate

Funding earned: $56.28
Price spread: +0.120% → +0.061%: $5.89
Slippage, 4 orders: −$45.82
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$7.65
Costs to cover: 0.698%
Break-even: 8.0 days

Slippage from Hyperliquid: live order book, 66 min ago; Gate: live order book, 4 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, 66 min ago	0.26 bp	22.5 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	5.22 bp	12.7 bp −$13	24.8 bp −$248	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	19.197	long leg	$483K	$229K	3x
Aster TRBUSDT	+0.0100%	4h	19.192	−0.027%	$9K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.183	−0.073%	$5.1M	$10.2M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.208	+0.057%	$6.3M	$1.9M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.200	+0.016%	$4.4M	$4.7M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.186	−0.057%	$14.6M	$922K	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.203	+0.031%	$1.1M	$303K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.199	+0.010%	$1.2M	$1.3M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.211	+0.073%	—	$16.4M	—	as long as short
BloFin TRB-USDT	+0.0140%	4h	19.174	−0.120%	$358K	$172K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRB	+0.0231%	4h	19.172	−0.131%	$15K	$4K	—	as long as short
Gate TRB_USDTshort	+0.0368%	4h	19.220	+0.120%	$594K	$1.5M	50x
Kraken Futures PF_TRBUSD	+0.1135%	1h	19.230	+0.169%	$102K	$99K	10x	as long as short