Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0235%/8h= −25.8% APRpaid last 24h −0.098%

Price spread now: OKX against Hyperliquid−0.041%7-day average −0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.344%−$34 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.041%, 7d avg −0.114%

Together, before fees−0.318%+ Points / potential airdropHyperliquid: Season 2 · farm board−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.074% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.041% now, against its 7-day average of −0.114%): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ARB	0.2219	0.0100	pay 0.0013% / 1h	44m 38s	$38.5M	$49.9M	10x
Short	OKX ARB-USDT-SWAP	0.2218	−0.0135	pay 0.0135% / 8h	5h 44m	$22.3M	$151.9M	50x

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 −0.041%Rate

Funding earned: −$49.45
Price spread: −0.041% → −0.114%: $7.38
Slippage, 4 orders: −$17.82
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$78.89
Costs to cover: 0.368%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; OKX: 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, 9 min ago	0.22 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.23 bp	12.5 bp −$13	28.1 bp −$281	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1577%	1h	0.2204	−0.685%	$40K	$372K	12x	as long as short
Variational Omni ARB	−0.0153%	8h	0.2213	−0.259%	$1.9M	$2.9M	—	as long as short
01 Exchange ARBUSD	−0.0136%	1h	0.2219	−0.023%	$7K	$2K	10x	as long as short
OKX ARB-USDT-SWAPshort	−0.0135%	8h	0.2218	−0.041%	$22.3M	$151.9M	50x
SoDEX ARB-USD	−0.0135%	1h	0.2221	+0.095%	$10K	$2.4M	5x	as long as short
MEXC ARB_USDT	−0.0135%	8h	0.2218	−0.054%	$38.4M	$59.0M	200x	as long as short
Kraken Futures PF_ARBUSD	−0.0098%	1h	0.2223	+0.184%	$1.1M	$4.6M	50x	as long as short
Polymarket Perps ARB-USD	−0.0092%	1h	0.2220	+0.023%	$102K	$2.1M	10x	as long as short
Gate ARB_USDT	−0.0089%	8h	0.2218	−0.036%	$5.4M	$19.0M	60x	as long as short
Bybit ARBUSDT	−0.0083%	8h	0.2218	−0.063%	$56.4M	$126.5M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ARB_USDC	−0.0073%	8h	0.2221	+0.081%	$13K	$383K	10x	as long as short
ApeX Omni ARBUSDT	−0.0045%	1h	0.2213	−0.279%	$119K	$284K	50x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2219	+0.004%	$66K	$5K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2217	−0.093%	$352K	$2.5M	25x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2222	+0.140%	$24K	$34K	25x	as long as short
BloFin ARB-USDT	+0.0001%	8h	0.2221	+0.063%	—	$2.7M	75x	as long as short
Binance ARBUSDT	+0.0001%	8h	0.2219	−0.023%	$64.6M	$308.9M	75x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0013%	1h	0.2222	+0.114%	$11K	—	150x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2222	+0.127%	$141K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2218	−0.032%	$1.2M	$6.4M	15x	as long as short
Phemex ARBUSDT	+0.0096%	8h	0.2217	−0.099%	$4.9M	$12.9M	50x	as long as short
Hyperliquid ARBlong	+0.0100%	1h	0.2219	long leg	$38.5M	$49.9M	10x
Aster ARBUSDT	+0.0100%	8h	0.2220	+0.020%	$658K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2220	+0.024%	$42K	$179K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2218	−0.036%	$19.6M	$15.5M	75x	as long as short
Bitget ARBUSDT	+0.0100%	8h	0.2217	−0.099%	$21.2M	$35.0M	50x	as long as short
BingX ARB-USDT	+0.0100%	8h	0.2218	−0.077%	—	$53.9M	—	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2212	−0.314%	$40K	$463K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2212	−0.324%	$470K	$3.6M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2224	+0.216%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2222	+0.126%	$298K	$952K	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0224%	1h	0.2215	−0.198%	$506K	$2.1M	50x	as long as short
RISEx ARB/USDC	+0.0232%	1h	0.2220	+0.028%	$487K	$2.7M	10x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2222	+0.119%	$828K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2219	+0.008%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0554%	1h	0.2226	+0.297%	$1.0M	$2.8M	20x	as long as short