Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0448%/8h= +49.1% APRpaid last 24h +0.182%

Price spread now: Hyperliquid against OKX+0.113%7-day average +0.192% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$960.963% of the position

Long on OKX Short on Hyperliquid

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+0.042%+$4 · spread now +0.113%, 7d avg +0.192%

Together, before fees+0.660%+ Points / potential airdropHyperliquid: Season 2 · farm board+$66 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.079% cheaper against OKX than usual: you would sell low and buy high (spread +0.113% now, against its 7-day average of +0.192%). If the spread goes back, that is −$8 on $10k: about 14 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX 0G-USDT-SWAP	0.2314	0.0100	pay 0.0050% / 4h	58m 32s	$880K	$2.3M	20x
Short	Hyperliquid 0G	0.2317	0.0548	get 0.0068% / 1h	58m 32s	$2.5M	$503K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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 OKXbpFee HyperliquidbpOrdersPrice spread, now +0.113%Rate

Funding earned: $94.08
Price spread: +0.113% → +0.192%: −$7.86
Slippage, 4 orders: −$77.35
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$10.13
Costs to cover: 0.963%
Break-even: 7.8 days

Slippage from OKX: live order book, 3 min ago; Hyperliquid: live order book, 3 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 OKX live order book, 3 min ago	4.33 bp	18.6 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	1.08 bp	27.1 bp −$27	doesn't fit	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	−0.0640%	4h	0.2314	0.000%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2313	−0.051%	$2K	—	100x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2315	+0.031%	$23K	$19K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2313	−0.043%	$6.8M	$8.9M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2311	−0.130%	$2.3M	$2.3M	50x	as long as short
OKX 0G-USDT-SWAPlong	+0.0100%	4h	0.2314	long leg	$880K	$2.3M	20x
Gate 0G_USDT	+0.0100%	8h	0.2312	−0.086%	$596K	$162K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2313	−0.043%	$2.0M	$201K	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2314	0.000%	$1.8M	$659K	50x	as long as short
Variational Omni 0G	+0.0100%	4h	0.2305	−0.402%	$12K	$10K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni 0GUSDT	+0.0100%	1h	0.2306	−0.324%	$18K	$632K	50x	as long as short
BloFin 0G-USDT	+0.0121%	4h	0.2312	−0.086%	$324K	$9K	50x	as long as short
KuCoin 0GUSDTM	+0.0218%	4h	0.2313	−0.043%	$2.4M	$2.6M	50x	as long as short
Hyperliquid 0Gshort	+0.0548%	1h	0.2317	+0.113%	$2.5M	$503K	3x
Backpack 0G_USDC_PERP	+0.1140%	1h	0.2316	+0.086%	$37K	$47K	5x	as long as short
Lighter 0G	+0.1224%	1h	0.2316	+0.086%	$44K	$100K	3x	as long as short