Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.046%

Price spread now: Hyperliquid against OKX+0.069%7-day average +0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$770.768% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

Price spread, last 7 days+0.030%+$3 · spread now +0.069%, 7d avg +0.130%

Together, before fees+0.189%+ Points / potential airdropHyperliquid: Season 2 · farm board+$19 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 0.061% cheaper against OKX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.130%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CC-USDT-SWAP	0.1153	0.0100	pay 0.0050% / 4h	1h 50m	$2.5M	$3.3M	20x
Short	Hyperliquid CC	0.1154	0.0100	get 0.0013% / 1h	50m 01s	$5.4M	$1.3M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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 OKXbpFee HyperliquidbpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → +0.130%: −$6.1
Slippage, 4 orders: −$57.77
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$82.87
Costs to cover: 0.768%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Hyperliquid: live order book, 2 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 OKX live order book, 2 min ago	3.91 bp	25.8 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	0.43 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit

CC on 19 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 CC/USDC PERP	−0.3951%	1h	0.1144	−0.815%	$6K	$97	5.5x	as long as short
Gate CC_USDT	−0.0022%	4h	0.1151	−0.234%	$357K	$208K	50x	as long as short
MEXC CC_USDT	+0.0080%	4h	0.1153	−0.078%	$1.6M	$301K	100x	as long as short
Paradex CC-USD-PERP	+0.0086%	8h	0.1152	−0.119%	$1K	—	5x	as long as short
Bybit CCUSDT	+0.0090%	4h	0.1153	−0.061%	$10.4M	$3.7M	25x	as long as short
Hyperliquid CCshort	+0.0100%	1h	0.1154	+0.069%	$5.4M	$1.3M	3x
Aster CCUSDT	+0.0100%	4h	0.1152	−0.104%	$34K	$39K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1153	−0.069%	$10.9M	$11.0M	75x	as long as short
OKX CC-USDT-SWAPlong	+0.0100%	4h	0.1153	long leg	$2.5M	$3.3M	20x
KuCoin CCUSDTM	+0.0100%	4h	0.1153	−0.061%	$487K	$114K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CCUSDT	+0.0100%	4h	0.1153	+0.009%	$925K	$787K	20x	as long as short
BingX CC-USDT	+0.0100%	4h	0.1153	−0.069%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1152	−0.087%	$16K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1150	−0.264%	$572K	$43K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1156	+0.215%	$85K	$2.2M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1151	−0.229%	$7K	$35K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1150	−0.277%	$583K	$103K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0439% / S −0.0239%	1h	0.1153	−0.062%	$43K	—	50x	as long as short
Lighter CC	+0.1408%	1h	0.1157	+0.303%	$233K	$150K	5x	as long as short