Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0700%/8h= +76.7% APRpaid last 24h +0.183%

Price spread now: Hyperliquid against OKX+0.060%7-day average +0.192% · you sell dearer than you buy

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

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.640%+$64 on $10k

Price spread, last 7 days+0.087%+$9 · spread now +0.060%, 7d avg +0.192%

Together, before fees+0.728%+ Points / potential airdropHyperliquid: Season 2 · farm board+$73 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.132% cheaper against OKX than usual: you would sell low and buy high (spread +0.060% now, against its 7-day average of +0.192%). If the spread goes back, that is −$13 on $10k: about 15 hours of funding at the current rate (+$21 a day). At the pace of the last 7 days (+0.640% in total) that is about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX 0G-USDT-SWAP	0.2327	0.0100	pay 0.0050% / 4h	2h 22m	$898K	$2.5M	20x
Short	Hyperliquid 0G	0.2328	0.0800	get 0.0100% / 1h	22m 07s	$2.5M	$525K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.060%Rate

Funding earned: $147.06
Price spread: +0.060% → +0.192%: −$13.18
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $114.88
Costs to cover: 0.190%
Break-even: 1.5 days

Slippage unknown: OKX: live order book, 5 min ago; Hyperliquid: live order book, 9 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, 5 min ago	4.30 bp	26.7 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.72 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

0G on 15 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-USDT	−0.1863%	4h	0.2325	−0.086%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2322	−0.197%	$2K	—	100x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2324	−0.139%	$18K	$42K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2325	−0.086%	$6.8M	$9.4M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2323	−0.172%	$2.3M	$2.5M	50x	as long as short
OKX 0G-USDT-SWAPlong	+0.0100%	4h	0.2327	long leg	$898K	$2.5M	20x
Gate 0G_USDT	+0.0100%	8h	0.2323	−0.172%	$600K	$161K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2325	−0.086%	$2.1M	$199K	50x	as long as short
KuCoin 0GUSDTM	+0.0100%	4h	0.2326	−0.043%	$2.4M	$2.5M	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2327	0.000%	$1.9M	$769K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 0G	+0.0100%	4h	0.2327	−0.016%	$13K	$5K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2326	−0.030%	$18K	$628K	50x	as long as short
Backpack 0G_USDC_PERP	+0.0565%	1h	0.2326	−0.043%	$31K	$54K	5x	as long as short
Hyperliquid 0Gshort	+0.0800%	1h	0.2328	+0.060%	$2.5M	$525K	3x
Lighter 0G	+0.0856%	1h	0.2330	+0.129%	$49K	$104K	3x	as long as short