Funding arb · Price arb /

FOGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.018%

Price spread now: Hyperliquid against OKX+0.043%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1441.435% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 4 days (all we have)+0.065%+$6 · spread now +0.043%, 7d avg −0.010%

Together, before fees+0.034%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 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 0.053% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX FOGO-USDT-SWAP	0.006932	0.0100	pay 0.0050% / 4h	2h 32m	$523K	$848K	10x
Short	Hyperliquid FOGO	0.006935	0.0100	get 0.0013% / 1h	32m 06s	$710K	$306K	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 +0.043%Rate

Funding earned: $0
Price spread: +0.043% → −0.010%: $5.31
Slippage, 4 orders: −$124.55
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$138.23
Costs to cover: 1.435%
Break-even: never at this rate

Slippage from OKX: live order book, 34 min ago; Hyperliquid: live order book, 18 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, 34 min ago	2.88 bp	39.3 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 18 min ago	5.07 bp	26.8 bp −$27	doesn't fit	doesn't fit	doesn't fit

FOGO on 13 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
Lighter FOGO	+0.0096%	1h	0.006951	+0.274%	$11K	$9K	3x	as long as short
Hyperliquid FOGOshort	+0.0100%	1h	0.006935	+0.043%	$710K	$306K	3x
Aster FOGOUSDT	+0.0100%	4h	0.006933	+0.018%	$13K	$13K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006943	+0.159%	$1.9M	$2.1M	50x	as long as short
Bybit FOGOUSDT	+0.0100%	4h	0.006933	+0.014%	$764K	$182K	50x	as long as short
OKX FOGO-USDT-SWAPlong	+0.0100%	4h	0.006932	long leg	$523K	$848K	10x
Gate FOGO_USDT	+0.0100%	4h	0.006930	−0.029%	$110K	$46K	50x	as long as short
MEXC FOGO_USDT	+0.0100%	4h	0.006945	+0.188%	$322K	$123K	50x	as long as short
KuCoin FOGOUSDTM	+0.0100%	4h	0.006940	+0.115%	$286K	$93K	50x	as long as short
Bitget FOGOUSDT	+0.0100%	4h	0.006930	−0.029%	$131K	$91K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX FOGO-USDT	+0.0100%	4h	0.006936	+0.058%	—	$1.3M	—	as long as short
Variational Omni FOGO	+0.0100%	4h	0.006941	+0.129%	$97K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006940	+0.115%	$2K	$1.2M	20x	as long as short