Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0131%/8h= −14.3% APRpaid last 24h −0.037%

Price spread now: Bitget against Hyperliquid−0.263%7-day average −0.217% · you buy dearer than you sell

Net, funding: paid 7d − costs−$254as in the Funding arb table

Net, price: spread back to 7d avg − costs−$254as in the Price arb table

costs, in and out, $10k−$2502.499% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 4 days (all we have)+0.124%+$12 · spread now −0.263%, 7d avg −0.217%

Together, before fees+0.087%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bitget is 0.045% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.217%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BRETT	0.005713	0.0231	pay 0.0029% / 1h	32m 38s	$313K	$275K	3x
Short	Bitget BRETTUSDT	0.005698	0.0100	get 0.0050% / 4h	2h 32m	$1.3M	$611K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.263%Rate

Funding earned: −$27.41
Price spread: −0.263% → −0.217%: −$4.51
Slippage, 4 orders: −$228.93
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$281.85
Costs to cover: 2.499%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 37 min ago; Bitget: 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, 37 min ago	2.53 bp	38.8 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	9.53 bp	64.7 bp −$65	241.2 bp −$2,412	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	0.005665	−0.840%	—	—	100x	as long as short
Injective BRETT/USDC PERP	+0.0033%	1h	0.005839	+2.205%	$61	$854	5.5x	as long as short
BloFin BRETT-USDT	+0.0083%	4h	0.005687	−0.455%	$57K	$215K	50x	as long as short
Binance BRETTUSDT	+0.0100%	4h	0.005714	+0.018%	$1.2M	$2.8M	50x	as long as short
Bybit BRETTUSDT	+0.0100%	4h	0.005699	−0.245%	$2.1M	$2.1M	25x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005690	−0.403%	$411K	$113K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005699	−0.245%	$12.1M	$216K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005711	−0.035%	$278K	$112K	30x	as long as short
Bitget BRETTUSDTshort	+0.0100%	4h	0.005698	−0.263%	$1.3M	$611K	50x
BingX BRETT-USDT	+0.0100%	4h	0.005697	−0.280%	—	$1.4M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BRETT	+0.0100%	4h	0.005771	+1.017%	$42K	$105K	—	as long as short
OKX BRETT-USDT-SWAP	+0.0145%	4h	0.005715	+0.035%	$141K	$343K	10x	as long as short
Hyperliquid BRETTlong	+0.0231%	1h	0.005713	long leg	$313K	$275K	3x
Kraken Futures PF_BRETTUSD	+0.1683%	1h	0.005696	−0.302%	$39K	$89K	10x	as long as short