Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0517%/8h= −56.6% APRpaid last 24h −0.024%

Price spread now: Binance against Hyperliquid−0.188%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$152as in the Price arb table

costs, in and out, $10k−$1401.403% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now −0.188%, 7d avg −0.071%

Together, before fees+0.124%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Binance is 0.117% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.071%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.024% in total (about -1.3% 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	Hyperliquid BRETT	0.005856	0.0617	pay 0.0077% / 1h	23m 04s	$341K	$210K	3x
Short	Binance BRETTUSDT	0.005845	0.0100	get 0.0050% / 4h	2h 23m	$1.2M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.188%Rate

Funding earned: −$108.64
Price spread: −0.188% → −0.071%: −$11.7
Slippage, 4 orders: −$121.29
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$260.63
Costs to cover: 1.403%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 61 min ago; Binance: live order book, 12 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 Hyperliquid live order book, 61 min ago	1.71 bp	36.5 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	1.71 bp	34.0 bp −$34	118.1 bp −$1,181	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	0.005834	−0.376%	—	—	100x	as long as short
Binance BRETTUSDTshort	+0.0100%	4h	0.005845	−0.188%	$1.2M	$2.4M	50x
Bybit BRETTUSDT	+0.0100%	4h	0.005836	−0.342%	$2.1M	$1.8M	25x	as long as short
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005856	0.000%	$134K	$257K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005831	−0.427%	$436K	$109K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005847	−0.154%	$12.5M	$210K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005832	−0.410%	$326K	$73K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005832	−0.410%	$1.4M	$623K	50x	as long as short
BingX BRETT-USDT	+0.0100%	4h	0.005841	−0.256%	—	$1.3M	—	as long as short
Variational Omni BRETT	+0.0100%	4h	0.005840	−0.277%	$53K	$102K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin BRETT-USDT	+0.0153%	4h	0.005854	−0.034%	$59K	$172K	50x	as long as short
Hyperliquid BRETTlong	+0.0617%	1h	0.005856	long leg	$341K	$210K	3x
Injective BRETT/USDC PERP	+0.0825%	1h	0.005839	−0.290%	$61	$854	5.5x	as long as short
Kraken Futures PF_BRETTUSD	+0.1054%	1h	0.005844	−0.202%	$44K	$70K	10x	as long as short