Funding arb · Price arb /

TURBO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against Hyperliquid+0.125%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1181.179% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.003%$0 · spread now +0.125%, 7d avg −0.004%

Together, before fees−0.017%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 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: OKX is 0.128% dearer against Hyperliquid than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TURBO	0.001044	0.0100	pay 0.0013% / 1h	22m 16s	$311K	$165K	3x
Short	OKX TURBO-USDT-SWAP	0.001045	0.0100	get 0.0050% / 4h	2h 22m	$874K	$2.2M	20x

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 +0.125%Rate

Funding earned: $0
Price spread: +0.125% → −0.004%: $12.81
Slippage, 4 orders: −$98.87
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$105.06
Costs to cover: 1.179%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 47 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, 47 min ago	4.71 bp	22.3 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	4.33 bp	38.9 bp −$39	doesn't fit	doesn't fit	doesn't fit

TURBO 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
Kraken Futures PF_TURBOUSD	−0.0116%	1h	0.001045	+0.058%	$68K	$30K	20x	as long as short
Injective TURBO/USDC PERP	+0.0033%	1h	0.001069	+2.395%	$83	$4	5.5x	as long as short
BloFin TURBO-USDT	+0.0077%	4h	0.001040	−0.402%	$151K	$460K	75x	as long as short
Hyperliquid TURBOlong	+0.0100%	1h	0.001044	long leg	$311K	$165K	3x
Aster TURBOUSDT	+0.0100%	4h	0.001043	−0.110%	$9K	$20K	10x	as long as short
Binance TURBOUSDT	+0.0100%	4h	0.001044	+0.021%	$2.9M	$6.3M	50x	as long as short
Bybit 1000TURBOUSDT	+0.0100%	4h	0.001044	+0.010%	$373K	$759K	25x	as long as short
OKX TURBO-USDT-SWAPshort	+0.0100%	4h	0.001045	+0.125%	$874K	$2.2M	20x
Gate TURBO_USDT	+0.0100%	4h	0.001042	−0.163%	$381K	$324K	25x	as long as short
MEXC TURBO_USDT	+0.0100%	4h	0.001044	+0.019%	$5.4M	$611K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TURBOUSDTM	+0.0100%	4h	0.001043	−0.115%	$1.8M	$859K	20x	as long as short
Bitget TURBOUSDT	+0.0100%	4h	0.001043	−0.096%	$986K	$578K	25x	as long as short
BingX TURBO-USDT	+0.0100%	4h	0.001044	+0.019%	—	$7.7M	—	as long as short
Extended TURBO-USD	+0.0104%	1h	0.001044	+0.011%	$1K	$232K	5x	as long as short