Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0523%/8h= +57.2% APRpaid last 24h −0.004%

Price spread now: Hyperliquid against BingX+0.188%7-day average +0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1541.537% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.188%, 7d avg +0.122%

Together, before fees−0.065%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Hyperliquid is 0.066% dearer against BingX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.122%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.005% in total (about -0.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BRETT-USDT	0.005838	0.0100	pay 0.0050% / 4h	2h 25m	—	$1.4M	—
Short	Hyperliquid BRETT	0.005849	0.0623	get 0.0078% / 1h	25m 35s	$340K	$210K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.188%Rate

Funding earned: $109.75
Price spread: +0.188% → +0.122%: $6.6
Slippage, 4 orders: −$134.65
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$37.3
Costs to cover: 1.537%
Break-even: 9.4 days

Slippage from BingX: live order book, 1 min ago; Hyperliquid: live order book, 58 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 BingX live order book, 1 min ago	9.41 bp	33.9 bp −$34	99.5 bp −$995	647.8 bp −$64.8K	915.3 bp −$457.7K
Sell Hyperliquid live order book, 58 min ago	1.71 bp	42.2 bp −$42	doesn't fit	doesn't fit	doesn't fit

BRETT on 14 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
GMX BRETT/USD [ETH-USDC]	L 0.0000% / S 0.0000%	1h	0.005839	+0.017%	—	—	100x	as long as short
BloFin BRETT-USDT	+0.0079%	4h	0.005830	−0.137%	$59K	$171K	50x	as long as short
Binance BRETTUSDT	+0.0100%	4h	0.005840	+0.034%	$1.2M	$2.4M	50x	as long as short
Bybit BRETTUSDT	+0.0100%	4h	0.005836	−0.034%	$2.1M	$1.8M	25x	as long as short
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005856	+0.308%	$134K	$257K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005830	−0.137%	$436K	$109K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005840	+0.034%	$12.5M	$210K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005834	−0.069%	$326K	$72K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005829	−0.154%	$1.4M	$623K	50x	as long as short
BingX BRETT-USDTlong	+0.0100%	4h	0.005838	long leg	—	$1.4M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BRETT	+0.0100%	4h	0.005824	−0.244%	$53K	$102K	—	as long as short
Hyperliquid BRETTshort	+0.0623%	1h	0.005849	+0.188%	$340K	$210K	3x
Injective BRETT/USDC PERP	+0.0825%	1h	0.005839	+0.017%	$61	$854	5.5x	as long as short
Kraken Futures PF_BRETTUSD	+0.1053%	1h	0.005847	+0.148%	$44K	$70K	10x	as long as short