Funding arb · Price arb /

TURBO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against OKX+0.112%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$1171.170% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.243%−$24 · spread now +0.112%, 7d avg 0.000%

Together, before fees−0.223%+ Points / potential airdropHyperliquid: Season 2 · farm board−$22 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 0.112% dearer against OKX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TURBO-USDT-SWAP	0.001068	0.0100	pay 0.0050% / 4h	1m 29s	$917K	$2.0M	20x
Short	Hyperliquid TURBO	0.001069	0.0100	get 0.0013% / 1h	1m 29s	$316K	$146K	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 +0.112%Rate

Funding earned: $0
Price spread: +0.112% → 0.000%: $11.23
Slippage, 4 orders: −$97.98
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$105.75
Costs to cover: 1.170%
Break-even: never at this rate

Slippage from OKX: live order book, 5 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, 5 min ago	4.73 bp	37.9 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 18 min ago	4.73 bp	20.7 bp −$21	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	−0.0508%	1h	0.001066	−0.172%	$68K	$28K	20x	as long as short
Injective TURBO/USDC PERP	+0.0033%	1h	0.001069	+0.112%	$83	$4	5.5x	as long as short
Hyperliquid TURBOshort	+0.0100%	1h	0.001069	+0.112%	$316K	$146K	3x
Aster TURBOUSDT	+0.0100%	4h	0.001066	−0.127%	$9K	$20K	10x	as long as short
Binance TURBOUSDT	+0.0100%	4h	0.001068	+0.009%	$2.9M	$5.9M	50x	as long as short
Bybit 1000TURBOUSDT	+0.0100%	4h	0.001068	−0.009%	$393K	$736K	25x	as long as short
OKX TURBO-USDT-SWAPlong	+0.0100%	4h	0.001068	long leg	$917K	$2.0M	20x
Gate TURBO_USDT	+0.0100%	4h	0.001068	+0.028%	$390K	$278K	25x	as long as short
MEXC TURBO_USDT	+0.0100%	4h	0.001067	−0.112%	$5.4M	$580K	20x	as long as short
KuCoin TURBOUSDTM	+0.0100%	4h	0.001068	+0.028%	$1.9M	$809K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TURBOUSDT	+0.0100%	4h	0.001067	−0.075%	$1.0M	$509K	25x	as long as short
BingX TURBO-USDT	+0.0100%	4h	0.001066	−0.187%	—	$7.7M	—	as long as short
Extended TURBO-USD	+0.0104%	1h	0.001067	−0.066%	$2K	$162K	5x	as long as short
BloFin TURBO-USDT	+0.0107%	4h	0.001061	−0.627%	$155K	$440K	75x	as long as short