Funding you earn now, next payment 22:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h −0.029%
Price spread now: OKX against Hyperliquid−0.074%7-day average −0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$190.191% of the position
Funding, last 7 days−0.067%−$7 on $10k
+Price spread, last 7 days+0.065%+$6 · spread now −0.074%, 7d avg −0.038%
=Together, before fees−0.003%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and OKX is 0.036% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.038%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 86,829 | 0.0100 | pay 0.0013% / 1h | 14m 26s | $3.82B | $5.12B | 40x |
| Short | OKX BTC-USDT-SWAP | 86,765 | 0.0089 | get 0.0089% / 8h | 2h 14m | $2.56B | $12.75B | 100x |
Hyperliquid BTC
OKX BTC-USDT-SWAPFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$2.28
- Price spread: −0.074% → −0.038%
- −$3.55
- Slippage, 4 orders
- −$0.13
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$24.96
- Costs to cover
- 0.191%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 10 min ago; OKX: live order book, 5 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, 10 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.6 bp −$456 | 4.6 bp −$2,292 |
| Sell OKX live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 6.2 bp −$617 | 7.7 bp −$3,859 |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0242% | 1h | 86,757.4 | −0.082% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,769.4 | −0.069% | $426K | $24.6M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,739 | −0.104% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,751 | −0.090% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0061% | 1h | 86,782.5 | −0.054% | $17.6M | $20.6M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,776 | −0.061% | $362K | $2.4M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,778.2 | −0.059% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0006% | 8h | 86,749.6 | −0.091% | $850.3M | $707.6M | 125x | as long as short |
| Aster BTCUSDT | +0.0007% | 8h | 86,739.7 | −0.103% | $506.4M | $1.16B | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0018% | 1h | 86,808.5 | −0.024% | $931.2M | $1.47B | 50x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,744.3 | −0.098% | $6.7M | $144.4M | 40x | as long as short |
| Phemex BTCUSDT | +0.0023% | 8h | 86,766.4 | −0.072% | $150.4M | $472.3M | 150x | as long as short |
| BingX BTC-USDC | +0.0028% | 8h | 86,737.4 | −0.105% | — | $15.4M | — | as long as short |
| Bitget BTCUSDT | +0.0036% | 8h | 86,748.7 | −0.092% | $2.96B | $5.08B | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,639 | −0.219% | $315K | $26.8M | 52x | as long as short |
| MEXC BTC_USDT | +0.0061% | 8h | 86,748.7 | −0.092% | $5.20B | $5.71B | 500x | as long as short |
| Binance BTCUSDT | +0.0061% | 8h | 86,747.8 | −0.094% | $9.44B | $24.37B | 150x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,768 | −0.070% | $9.4M | $41.9M | 25x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,749.6 | −0.091% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0082% | 8h | 86,754.7 | −0.086% | $5.85B | $10.68B | 200x | as long as short |
| Bybit BTCUSDT | +0.0085% | 8h | 86,747.4 | −0.094% | $5.29B | $9.71B | 150x | as long as short |
| OKX BTC-USDT-SWAPshort | +0.0089% | 8h | 86,765 | −0.074% | $2.56B | $12.75B | 100x | |
| Lighter BTC | +0.0096% | 1h | 86,765.6 | −0.073% | $172.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,774.6 | −0.063% | $24.1M | $154.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,748 | −0.093% | $8.5M | $52.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,742 | −0.100% | $202K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,800.8 | −0.032% | $4.8M | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,746.6 | −0.095% | $21.7M | $235.5M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 86,829 | long leg | $3.82B | $5.12B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,789.4 | −0.046% | $41.0M | $494.9M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,755 | −0.085% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,820.6 | −0.010% | $7.5M | $94.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,792.1 | −0.042% | $573.3M | $22.0M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,771.8 | −0.066% | $38.1M | $149.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,796.1 | −0.038% | $159.7M | $566.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,776.5 | −0.060% | $280.3M | $952.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,797.1 | −0.037% | $218.0M | $187.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,813.3 | −0.018% | $141.7M | $322.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,791.7 | −0.043% | $30.8M | $203.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,813.9 | −0.017% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,754 | −0.086% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,757.2 | −0.083% | $197K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,768.5 | −0.070% | $2.5M | $8.5M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,777.3 | −0.060% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,759.3 | −0.080% | $30.0M | $61.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,765 | −0.074% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,766 | −0.073% | $60.6M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,761.5 | −0.078% | $2.30B | $959.1M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,735 | −0.108% | $46.3M | $226.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,789.6 | −0.045% | — | $98.9M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,805.3 | −0.027% | $188.1M | $934.1M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,813 | −0.018% | $131.9M | $5.86B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0160% | 8h | 86,797 | −0.037% | $9.7M | $727.5M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0209% | 1h | 86,769.5 | −0.069% | $15.0M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,766.2 | −0.072% | $415.5M | $656.2M | 150x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 86,784.5 | −0.051% | $779K | $7.7M | 30x | as long as short |
Reya BTCRUSDPERP
Phemex BTCUSDT
BingX BTC-USDC
Bitget BTCUSDT
Injective BTC/USDC PERP
MEXC BTC_USDT
Binance BTCUSDT
RISEx BTC/USDC
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Hibachi BTC/USDT-P