Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.001%

Price spread now: OKX against tradeXYZ−0.099%7-day average +0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$1731.734% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)+0.146%+$15 · spread now −0.099%, 7d avg +0.090%

Together, before fees+0.196%+ Points / potential airdroptradeXYZ: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.190% cheaper against tradeXYZ than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.090%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:HIMS	29.279	0.0050	pay 0.0006% / 1h	51m 11s	$3.3M	$1.6M	10x
Short	OKX HIMS-USDT-SWAP	29.250	0	get 0.0000% / 8h	5h 51m	$287K	$172K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against tradeXYZ. 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 tradeXYZbpFee OKXbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$10.5
Price spread: −0.099% → +0.090%: −$18.95
Slippage, 4 orders: −$145.36
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$202.81
Costs to cover: 1.734%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 7 min ago; OKX: live order book, 9 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 tradeXYZ live order book, 7 min ago	3.24 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 9 min ago	8.54 bp	59.6 bp −$60	doesn't fit	doesn't fit	doesn't fit

HIMS 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
Nado HIMS-PERP	−0.0313%	1h	29.298	+0.064%	$2K	$2K	10x	as long as short
QFEX HIMS-USD	−0.0010%	1h	29.270	−0.031%	$1.3M	$587K	10x	as long as short
Aster HIMSUSDT	0.0000%	8h	29.277	−0.008%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.280	+0.003%	$967K	$2.6M	20x	as long as short
Bybit HIMSUSDT	0.0000%	8h	29.290	+0.038%	$297K	$119K	25x	as long as short
OKX HIMS-USDT-SWAPshort	0.0000%	8h	29.250	−0.099%	$287K	$172K	20x
Gate HIMS_USDT	0.0000%	8h	29.260	−0.065%	$506K	$201K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.270	−0.030%	$98K	$78K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.270	−0.031%	—	$2.4M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.304	+0.085%	$6K	$38K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest HIMS-USD-PERP	+0.0046%	1h	29.280	+0.003%	—	—	10x	as long as short
tradeXYZ xyz:HIMSlong	+0.0050%	1h	29.279	long leg	$3.3M	$1.6M	10x
KuCoin HIMSUSDTM	+0.0100%	8h	29.260	−0.065%	$134K	$35K	20x	as long as short
Injective HIMS/USDC PERP	+0.0220%	1h	29.560	+0.960%	$13K	$22K	5.5x	as long as short