Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0615%/8h= +67.4% APRpaid last 24h −0.004%

Price spread now: Hyperliquid against OKX+0.138%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$258as in the Funding arb table

Net, price: spread back to 7d avg − costs−$244as in the Price arb table

costs, in and out, $10k−$2582.575% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 4 days (all we have)−0.187%−$19 · spread now +0.138%, 7d avg +0.004%

Together, before fees−0.194%+ Points / potential airdropHyperliquid: Season 2 · farm board−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Hyperliquid is 0.133% dearer against OKX than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.004%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.007% in total (about -0.4% 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	OKX BRETT-USDT-SWAP	0.005818	0.0100	pay 0.0050% / 4h	2h 09m	$133K	$255K	10x
Short	Hyperliquid BRETT	0.005826	0.0715	get 0.0089% / 1h	9m 10s	$340K	$212K	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 +0.138%Rate

Funding earned: $129.25
Price spread: +0.138% → +0.004%: $13.33
Slippage, 4 orders: −$238.52
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$114.94
Costs to cover: 2.575%
Break-even: 13.2 days

Slippage from OKX: live order book, 11 min ago; Hyperliquid: live order book, 75 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 OKX live order book, 11 min ago	8.55 bp	99.8 bp −$100	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 75 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	0.005806	−0.206%	—	—	100x	as long as short
BloFin BRETT-USDT	+0.0079%	4h	0.005811	−0.120%	$58K	$172K	50x	as long as short
Binance BRETTUSDT	+0.0100%	4h	0.005819	+0.015%	$1.2M	$2.4M	50x	as long as short
Bybit BRETTUSDT	+0.0100%	4h	0.005809	−0.155%	$2.1M	$1.8M	25x	as long as short
OKX BRETT-USDT-SWAPlong	+0.0100%	4h	0.005818	long leg	$133K	$255K	10x
Gate BRETT_USDT	+0.0100%	4h	0.005809	−0.155%	$434K	$109K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005819	+0.017%	$12.4M	$212K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005818	0.000%	$325K	$72K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005806	−0.206%	$1.4M	$622K	50x	as long as short
BingX BRETT-USDT	+0.0100%	4h	0.005818	0.000%	—	$1.4M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BRETT	+0.0100%	4h	0.005815	−0.053%	$53K	$102K	—	as long as short
Hyperliquid BRETTshort	+0.0715%	1h	0.005826	+0.138%	$340K	$212K	3x
Injective BRETT/USDC PERP	+0.0825%	1h	0.005839	+0.361%	$61	$854	5.5x	as long as short
Kraken Futures PF_BRETTUSD	+0.1059%	1h	0.005815	−0.058%	$44K	$70K	10x	as long as short