Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h +0.008%

Price spread now: OKX against Hyperliquid−0.017%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$250as in the Funding arb table

Net, price: spread back to 7d avg − costs−$253as in the Price arb table

costs, in and out, $10k−$2512.513% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.017%, 7d avg −0.002%

Together, before fees+0.048%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.011% in total (about 0.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BRETT	0.005870	0.0416	pay 0.0052% / 1h	56m 20s	$340K	$211K	3x
Short	OKX BRETT-USDT-SWAP	0.005869	0.0100	get 0.0050% / 4h	2h 56m	$134K	$262K	10x

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 −0.017%Rate

Funding earned: −$66.29
Price spread: −0.017% → −0.002%: −$1.49
Slippage, 4 orders: −$232.33
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$319.11
Costs to cover: 2.513%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 27 min ago; OKX: live order book, 28 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, 27 min ago	1.71 bp	36.5 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 28 min ago	6.83 bp	81.0 bp −$81	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	0.005851	−0.324%	—	—	100x	as long as short
BloFin BRETT-USDT	+0.0091%	4h	0.005861	−0.153%	$59K	$170K	50x	as long as short
Binance BRETTUSDT	+0.0100%	4h	0.005860	−0.171%	$1.2M	$2.5M	50x	as long as short
Bybit BRETTUSDT	+0.0100%	4h	0.005856	−0.239%	$2.1M	$1.8M	25x	as long as short
OKX BRETT-USDT-SWAPshort	+0.0100%	4h	0.005869	−0.017%	$134K	$262K	10x
Gate BRETT_USDT	+0.0100%	4h	0.005860	−0.170%	$438K	$108K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005859	−0.187%	$12.5M	$208K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005858	−0.204%	$331K	$76K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005857	−0.221%	$1.4M	$624K	50x	as long as short
BingX BRETT-USDT	+0.0100%	4h	0.005861	−0.153%	—	$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	0.005891	+0.351%	$53K	$127K	—	as long as short
Hyperliquid BRETTlong	+0.0416%	1h	0.005870	long leg	$340K	$211K	3x
Injective BRETT/USDC PERP	+0.0825%	1h	0.005839	−0.528%	$61	$854	5.5x	as long as short
Kraken Futures PF_BRETTUSD	+0.1049%	1h	0.005870	−0.002%	$44K	$71K	10x	as long as short