Funding arb · Price arb /

HUT

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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 −0.022%

Price spread now: Phemex against OKX−0.231%7-day average +0.152% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.022%−$2 on $10k

Price spread, last 1 day (all we have)+0.187%+$19 · spread now −0.231%, 7d avg +0.152%

Together, before fees+0.165%+$17 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: Phemex is 0.383% cheaper against OKX than usual: you would sell low and buy high, −$38 on $10k if it goes back to its 7-day average of +0.152%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HUT-USDT-SWAP	103.92	0	get 0.0000% / 8h	3h 46m	$39K	$1.1M	20x
Short	Phemex HUTUSDT	103.68	0	get 0.0000% / 8h	3h 46m	$107K	$128K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.231%Rate

Funding earned: $0
Price spread: −0.231% → +0.152%: −$38.27
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$60.27
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 min ago; Phemex: live order book, 5 min ago. Net counts fees only.

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, 4 min ago	2.87 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.92 bp	47.4 bp −$47	doesn't fit	doesn't fit	doesn't fit

HUT 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
Bybit HUTUSDT	0.0000%	8h	103.73	−0.183%	$19K	$92K	25x	as long as short
OKX HUT-USDT-SWAPlong	0.0000%	8h	103.92	long leg	$39K	$1.1M	20x
QFEX HUT-USD	0.0000%	1h	103.55	−0.356%	$1.9M	$1.3M	10x	as long as short
Gate HUT_USDT	0.0000%	8h	103.82	−0.096%	$25K	$29K	20x	as long as short
Bitget HUTUSDT	0.0000%	8h	103.58	−0.327%	$56K	$152K	20x	as long as short
SunX HUT-USDT	0.0000%	8h	103.52	−0.385%	—	$165.0M	10x	as long as short
HTX HUT-USDT	0.0000%	8h	103.67	−0.241%	$2K	$350K	20x	as long as short
Phemex HUTUSDTshort	0.0000%	8h	103.68	−0.231%	$107K	$128K	10x
BloFin HUT-USDT	+0.0361%	8h	104.33	+0.395%	$46K	$29K	20x	as long as short
Binance HUTUSDT	+0.0385%	8h	103.57	−0.341%	$192K	$1.6M	20x	as long as short