Funding arb · Price arb /

HPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Gate+0.098%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$360as in the Funding arb table

Net, price: spread back to 7d avg − costs−$352as in the Price arb table

costs, in and out, $10k−$3603.599% of the position

Long on Gate 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)+0.149%+$15 · spread now +0.098%, 7d avg +0.018%

Together, before fees+0.149%+$15 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 0.080% dearer against Gate than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HPE_USDT	61.420	0	get 0.0000% / 8h	6h 57m	$159K	$33K	20x
Short	OKX HPE-USDT-SWAP	61.480	0	get 0.0000% / 8h	6h 57m	$206K	$300K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Gate. 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 GatebpFee OKXbpOrdersPrice spread, now +0.098%Rate

Funding earned: $0
Price spread: +0.098% → +0.018%: $7.96
Slippage, 4 orders: −$334.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$351.93
Costs to cover: 3.599%
Break-even: never at this rate

Slippage from Gate: live order book, 28 min ago; OKX: live order book, 33 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 Gate live order book, 28 min ago	18.04 bp	108.2 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 33 min ago	4.10 bp	58.7 bp −$59	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	61.471	+0.084%	$829	$146	20x	as long as short
Binance HPEUSDT	0.0000%	8h	61.510	+0.147%	$459K	$4.3M	20x	as long as short
Bybit HPEUSDT	0.0000%	8h	61.410	−0.016%	$318K	$176K	25x	as long as short
OKX HPE-USDT-SWAPshort	0.0000%	8h	61.480	+0.098%	$206K	$300K	20x
Gate HPE_USDTlong	0.0000%	8h	61.420	long leg	$159K	$33K	20x
Bitget HPEUSDT	0.0000%	8h	61.430	+0.016%	$950K	$344K	20x	as long as short
Variational Omni HPE	0.0000%	8h	61.479	+0.095%	$31K	$270K	—	as long as short
SunX HPE-USDT	0.0000%	8h	61.480	+0.098%	$995	$244K	10x	as long as short
HTX HPE-USDT	0.0000%	8h	61.440	+0.033%	$8K	$1K	10x	as long as short
KuCoin HPEUSDTM	+0.0292%	8h	61.470	+0.081%	$226K	$426K	20x	as long as short