Funding arb · Price arb /

HPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bitget−0.016%7-day average +0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1421.420% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.016%, 7d avg +0.066%

Together, before fees+0.049%+$5 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 0.082% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HPEUSDT	61.550	0	get 0.0000% / 8h	2h 51m	$952K	$358K	20x
Short	OKX HPE-USDT-SWAP	61.540	0	get 0.0000% / 8h	2h 51m	$203K	$371K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bitget. 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 BitgetbpFee OKXbpOrdersPrice spread, now −0.016%Rate

Funding earned: $0
Price spread: −0.016% → +0.066%: −$8.25
Slippage, 4 orders: −$120.01
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$150.26
Costs to cover: 1.420%
Break-even: never at this rate

Slippage from Bitget: live order book, 59 min ago; OKX: live order book, 59 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 Bitget live order book, 59 min ago	12.13 bp	47.3 bp −$47	73.4 bp −$734	doesn't fit	doesn't fit
Sell OKX live order book, 59 min ago	6.47 bp	39.7 bp −$40	doesn't fit	doesn't fit	doesn't fit

HPE on 10 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
Aster HPEUSDT	0.0000%	8h	61.561	+0.017%	$830	$146	20x	as long as short
Binance HPEUSDT	0.0000%	8h	61.590	+0.065%	$467K	$4.5M	20x	as long as short
Bybit HPEUSDT	0.0000%	8h	61.560	+0.016%	$319K	$193K	25x	as long as short
OKX HPE-USDT-SWAPshort	0.0000%	8h	61.540	−0.016%	$203K	$371K	20x
Gate HPE_USDT	0.0000%	8h	61.560	+0.016%	$159K	$36K	20x	as long as short
Bitget HPEUSDTlong	0.0000%	8h	61.550	long leg	$952K	$358K	20x
Variational Omni HPE	0.0000%	8h	61.534	−0.026%	$36K	$258K	—	as long as short
SunX HPE-USDT	0.0000%	8h	61.530	−0.032%	$739	$288K	10x	as long as short
HTX HPE-USDT	0.0000%	8h	61.540	−0.016%	$8K	$1K	10x	as long as short
KuCoin HPEUSDTM	+0.0363%	8h	61.620	+0.114%	$229K	$432K	20x	as long as short