Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0515%/8h= −56.4% APRpaid last 24h −0.182%

Price spread now: OKX against Hyperliquid−0.139%7-day average −0.192% · you buy dearer than you sell

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$820.817% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.617%−$62 on $10k

Price spread, last 7 days−0.017%−$2 · spread now −0.139%, 7d avg −0.192%

Together, before fees−0.634%+ Points / potential airdropHyperliquid: Season 2 · farm board−$63 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.053% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.139% now, against its 7-day average of −0.192%): +$5 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid 0G	0.2306	0.0615	pay 0.0077% / 1h	39m 47s	$2.4M	$512K	3x
Short	OKX 0G-USDT-SWAP	0.2303	0.0100	get 0.0050% / 4h	1h 39m	$880K	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.139%Rate

Funding earned: −$108.12
Price spread: −0.139% → −0.192%: $5.31
Slippage, 4 orders: −$62.74
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$184.55
Costs to cover: 0.817%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 1 min ago; OKX: live order book, 2 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, 1 min ago	1.95 bp	20.8 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	2.17 bp	23.5 bp −$23	84.1 bp −$841	doesn't fit	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-USDT	−0.0644%	4h	0.2302	−0.182%	—	$6.6M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2301	−0.209%	$2K	—	100x	as long as short
BloFin 0G-USDT	+0.0052%	4h	0.2307	+0.035%	$326K	$9K	50x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2303	−0.159%	$23K	$22K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2303	−0.140%	$6.7M	$8.9M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2301	−0.225%	$2.3M	$2.3M	50x	as long as short
OKX 0G-USDT-SWAPshort	+0.0100%	4h	0.2303	−0.139%	$880K	$2.3M	20x
Gate 0G_USDT	+0.0100%	8h	0.2299	−0.312%	$592K	$162K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2302	−0.182%	$2.0M	$202K	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2304	−0.095%	$1.8M	$656K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack 0G_USDC_PERP	+0.0100%	1h	0.2304	−0.095%	$37K	$48K	5x	as long as short
Variational Omni 0G	+0.0100%	4h	0.2304	−0.107%	$12K	$10K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2303	−0.126%	$18K	$630K	50x	as long as short
KuCoin 0GUSDTM	+0.0130%	4h	0.2305	−0.035%	$2.4M	$2.6M	50x	as long as short
Hyperliquid 0Glong	+0.0615%	1h	0.2306	long leg	$2.4M	$512K	3x
Lighter 0G	+0.0776%	1h	0.2306	−0.009%	$44K	$100K	3x	as long as short