Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Hyperliquid against BingX+0.343%7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1701.700% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.214%−$21 · spread now +0.343%, 7d avg +0.127%

Together, before fees−0.210%+ Points / potential airdropHyperliquid: Season 2 · farm board−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.216% dearer against BingX than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of +0.127%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BRETT-USDT	0.005833	0.0100	pay 0.0050% / 4h	31m 50s	—	$1.4M	—
Short	Hyperliquid BRETT	0.005853	0.0100	get 0.0013% / 1h	31m 50s	$316K	$260K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.343%Rate

Funding earned: $0
Price spread: +0.343% → +0.127%: $21.6
Slippage, 4 orders: −$150.99
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$148.38
Costs to cover: 1.700%
Break-even: never at this rate

Slippage from BingX: live order book, 15 min ago; Hyperliquid: live order book, 58 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 BingX live order book, 15 min ago	9.48 bp	39.7 bp −$40	138.9 bp −$1,389	658.6 bp −$65.9K	895.0 bp −$447.5K
Sell Hyperliquid live order book, 58 min ago	2.56 bp	42.8 bp −$43	doesn't fit	doesn't fit	doesn't fit

BRETT on 14 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
GMX BRETT/USD [ETH-USDC]	L 0.0000% / S 0.0000%	1h	0.005824	−0.154%	—	—	100x	as long as short
Injective BRETT/USDC PERP	+0.0033%	1h	0.005839	+0.103%	$61	$854	5.5x	as long as short
BloFin BRETT-USDT	+0.0064%	4h	0.005811	−0.377%	$57K	$185K	50x	as long as short
Hyperliquid BRETTshort	+0.0100%	1h	0.005853	+0.343%	$316K	$260K	3x
Binance BRETTUSDT	+0.0100%	4h	0.005848	+0.257%	$1.2M	$2.6M	50x	as long as short
Bybit BRETTUSDT	+0.0100%	4h	0.005849	+0.274%	$2.1M	$1.9M	25x	as long as short
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005854	+0.360%	$134K	$271K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005826	−0.120%	$424K	$118K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005843	+0.171%	$12.5M	$205K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005817	−0.274%	$307K	$79K	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BRETTUSDT	+0.0100%	4h	0.005834	+0.017%	$1.4M	$577K	50x	as long as short
BingX BRETT-USDTlong	+0.0100%	4h	0.005833	long leg	—	$1.4M	—
Variational Omni BRETT	+0.0100%	4h	0.005776	−0.977%	$42K	$104K	—	as long as short
Kraken Futures PF_BRETTUSD	+0.0619%	1h	0.005825	−0.140%	$43K	$76K	10x	as long as short