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: Bitget against OKX−0.114%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$187as in the Funding arb table

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

costs, in and out, $10k−$1871.866% of the position

Long on OKX Short on Bitget

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)−0.133%−$13 · spread now −0.114%, 7d avg −0.063%

Together, before fees−0.133%−$13 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: Bitget is 0.051% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HPE-USDT-SWAP	61.480	0	get 0.0000% / 8h	7h 02m	$206K	$302K	20x
Short	Bitget HPEUSDT	61.410	0	get 0.0000% / 8h	7h 02m	$950K	$344K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.114%Rate

Funding earned: $0
Price spread: −0.114% → −0.063%: −$5.06
Slippage, 4 orders: −$164.6
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$191.66
Costs to cover: 1.866%
Break-even: never at this rate

Slippage from OKX: live order book, 28 min ago; Bitget: live order book, 28 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, 28 min ago	4.10 bp	27.1 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 28 min ago	16.39 bp	24.8 bp −$25	43.3 bp −$433	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	61.412	−0.111%	$828	$146	20x	as long as short
Binance HPEUSDT	0.0000%	8h	61.470	−0.016%	$459K	$4.3M	20x	as long as short
Bybit HPEUSDT	0.0000%	8h	61.350	−0.211%	$318K	$176K	25x	as long as short
OKX HPE-USDT-SWAPlong	0.0000%	8h	61.480	long leg	$206K	$302K	20x
Gate HPE_USDT	0.0000%	8h	61.400	−0.130%	$159K	$33K	20x	as long as short
Bitget HPEUSDTshort	0.0000%	8h	61.410	−0.114%	$950K	$344K	20x
Variational Omni HPE	0.0000%	8h	61.430	−0.082%	$31K	$270K	—	as long as short
SunX HPE-USDT	0.0000%	8h	61.400	−0.130%	$1K	$244K	10x	as long as short
HTX HPE-USDT	0.0000%	8h	61.430	−0.081%	$8K	$1K	10x	as long as short
KuCoin HPEUSDTM	+0.0309%	8h	61.490	+0.016%	$226K	$423K	20x	as long as short