Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0955%/8h= −104.5% APRpaid last 24h −0.443%

Price spread now: BingX against Hyperliquid−0.141%7-day average −0.220% · you buy dearer than you sell

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

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−3.282%−$328 on $10k

Price spread, last 7 days−0.076%−$8 · spread now −0.141%, 7d avg −0.220%

Together, before fees−3.359%+ Points / potential airdropHyperliquid: Season 2 · farm board−$336 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.079% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.141% now, against its 7-day average of −0.220%): +$8 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid 0G	0.2342	0.0185	pay 0.0023% / 1h	57m 42s	$2.5M	$500K	3x
Short	BingX 0G-USDT	0.2339	−0.0770	pay 0.0385% / 4h	3h 57m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpFee BingXbpOrdersPrice spread, now −0.141%Rate

Funding earned: −$200.46
Price spread: −0.141% → −0.220%: $7.88
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$211.58
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; BingX: live order book, 13 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 Hyperliquid live order book, 3 min ago	1.49 bp	17.5 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 13 min ago	6.45 bp	20.3 bp −$20	45.7 bp −$457	286.7 bp −$28.7K	doesn't fit

0G on 16 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
BingX 0G-USDTshort	−0.0770%	4h	0.2339	−0.141%	—	$6.5M	—
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2338	−0.204%	$2K	—	100x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2338	−0.205%	$23K	$22K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2339	−0.152%	$6.9M	$9.1M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2338	−0.184%	$2.3M	$2.4M	50x	as long as short
OKX 0G-USDT-SWAP	+0.0100%	4h	0.2341	−0.056%	$888K	$2.4M	20x	as long as short
Gate 0G_USDT	+0.0100%	8h	0.2338	−0.184%	$603K	$165K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2338	−0.184%	$2.1M	$202K	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2338	−0.184%	$1.9M	$723K	50x	as long as short
Backpack 0G_USDC_PERP	+0.0100%	1h	0.2339	−0.141%	$37K	$47K	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 0G	+0.0100%	4h	0.2340	−0.090%	$13K	$10K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2341	−0.056%	$18K	$631K	50x	as long as short
BloFin 0G-USDT	+0.0136%	4h	0.2344	+0.073%	$326K	$9K	50x	as long as short
KuCoin 0GUSDTM	+0.0168%	4h	0.2342	0.000%	$2.4M	$2.5M	50x	as long as short
Hyperliquid 0Glong	+0.0185%	1h	0.2342	long leg	$2.5M	$500K	3x
Lighter 0G	+0.0232%	1h	0.2343	+0.030%	$45K	$100K	3x	as long as short