Funding arb · Price arb /

0G

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1349%/8h= −147.7% APRpaid last 24h −0.446%

Price spread now: BingX against Hyperliquid−0.173%7-day average −0.220% · you buy dearer than you sell

Net, funding: paid 7d − costs−$415as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$880.880% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−3.275%−$327 on $10k

Price spread, last 7 days−0.043%−$4 · spread now −0.173%, 7d avg −0.220%

Together, before fees−3.317%+ Points / potential airdropHyperliquid: Season 2 · farm board−$332 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.047% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.173% now, against its 7-day average of −0.220%): +$5 on $10k if it goes back. Holding the pair costs −$40 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid 0G	0.2314	0.0709	pay 0.0089% / 1h	0m 59s	$2.5M	$502K	3x
Short	BingX 0G-USDT	0.2310	−0.0640	pay 0.0320% / 4h	1h 00m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.173%Rate

Funding earned: −$283.23
Price spread: −0.173% → −0.220%: $4.74
Slippage, 4 orders: −$69.01
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$366.5
Costs to cover: 0.880%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; BingX: live order book, 15 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, 10 min ago	1.52 bp	22.6 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	6.52 bp	23.6 bp −$24	49.3 bp −$493	314.6 bp −$31.5K	doesn't fit

0G on 16 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
BingX 0G-USDTshort	−0.0640%	4h	0.2310	−0.173%	—	$6.5M	—
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2307	−0.309%	$2K	—	100x	as long as short
BloFin 0G-USDT	+0.0044%	4h	0.2308	−0.259%	$323K	$9K	50x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2310	−0.170%	$23K	$22K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2311	−0.130%	$6.8M	$8.9M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2309	−0.216%	$2.3M	$2.3M	50x	as long as short
OKX 0G-USDT-SWAP	+0.0100%	4h	0.2311	−0.130%	$875K	$2.3M	20x	as long as short
Gate 0G_USDT	+0.0100%	8h	0.2308	−0.259%	$595K	$165K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2308	−0.259%	$2.0M	$204K	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2312	−0.086%	$1.8M	$659K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 0G	+0.0100%	4h	0.2302	−0.532%	$12K	$10K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2306	−0.324%	$18K	$632K	50x	as long as short
Backpack 0G_USDC_PERP	+0.0118%	1h	0.2310	−0.173%	$37K	$47K	5x	as long as short
KuCoin 0GUSDTM	+0.0216%	4h	0.2309	−0.233%	$2.4M	$2.6M	50x	as long as short
Hyperliquid 0Glong	+0.0709%	1h	0.2314	long leg	$2.5M	$502K	3x
Lighter 0G	+0.0776%	1h	0.2311	−0.130%	$44K	$100K	3x	as long as short