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: Binance against OKX+0.016%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$880.882% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 4 days (all we have)−0.740%−$74 · spread now +0.016%, 7d avg −0.021%

Together, before fees−0.967%−$97 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: Binance is 0.038% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HPE-USDT-SWAP	61.350	0	get 0.0000% / 8h	7h 44m	$206K	$366K	20x
Short	Binance HPEUSDT	61.360	0	get 0.0000% / 8h	7h 44m	$456K	$4.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → −0.021%: $3.77
Slippage, 4 orders: −$68.17
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$84.4
Costs to cover: 0.882%
Break-even: never at this rate

Slippage from OKX: live order book, 51 min ago; Binance: live order book, 8 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, 51 min ago	10.57 bp	28.8 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	2.44 bp	13.5 bp −$14	53.4 bp −$534	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	61.365	+0.024%	$827	$146	20x	as long as short
Binance HPEUSDTshort	0.0000%	8h	61.360	+0.016%	$456K	$4.4M	20x
Bybit HPEUSDT	0.0000%	8h	61.400	+0.081%	$318K	$184K	25x	as long as short
OKX HPE-USDT-SWAPlong	0.0000%	8h	61.350	long leg	$206K	$366K	20x
Gate HPE_USDT	0.0000%	8h	61.370	+0.033%	$159K	$33K	20x	as long as short
Bitget HPEUSDT	0.0000%	8h	61.380	+0.049%	$951K	$351K	20x	as long as short
Variational Omni HPE	0.0000%	8h	61.325	−0.041%	$31K	$270K	—	as long as short
SunX HPE-USDT	0.0000%	8h	61.320	−0.049%	$738	$260K	10x	as long as short
HTX HPE-USDT	0.0000%	8h	61.290	−0.098%	$8K	$1K	10x	as long as short
KuCoin HPEUSDTM	+0.0393%	8h	61.440	+0.147%	$226K	$402K	20x	as long as short