Funding arb · Price arb /

GRASS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0230%/8h= −25.2% APRpaid last 24h −0.179%

Price spread now: OKX against Hyperliquid+0.070%7-day average −0.180% · you sell dearer than you buy

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

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.529%−$53 on $10k

Price spread, last 7 days−0.315%−$31 · spread now +0.070%, 7d avg −0.180%

Together, before fees−0.844%+ Points / potential airdropHyperliquid: Season 2 · farm board−$84 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.250% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of −0.180%): +$25 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid GRASS	0.4423	0.0330	pay 0.0041% / 1h	1m 42s	$16.8M	$4.2M	3x
Short	OKX GRASS-USDT-SWAP	0.4426	0.0100	get 0.0050% / 4h	3h 01m	$3.5M	$18.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$48.38
Price spread: +0.070% → −0.180%: $25.03
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$42.35
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 11 min ago; OKX: live order book, 2 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, 11 min ago	1.84 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	2.27 bp	19.4 bp −$19	64.7 bp −$647	doesn't fit	doesn't fit

GRASS on 17 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
Reya GRASSRUSDPERP	−0.0109%	1h	0.4418	−0.120%	$664	—	15x	as long as short
Injective GRASS/USDC PERP	+0.0033%	1h	0.4267	−3.525%	$7	$23K	5.5x	as long as short
BloFin GRASS-USDT	+0.0079%	4h	0.4407	−0.359%	$550K	$342K	20x	as long as short
Binance GRASSUSDT	+0.0100%	4h	0.4424	+0.016%	$10.5M	$32.0M	75x	as long as short
Bybit GRASSUSDT	+0.0100%	4h	0.4426	+0.077%	$25.0M	$18.0M	25x	as long as short
OKX GRASS-USDT-SWAPshort	+0.0100%	4h	0.4426	+0.070%	$3.5M	$18.5M	20x
Gate GRASS_USDT	+0.0100%	4h	0.4418	−0.111%	$1.3M	$1.7M	50x	as long as short
MEXC GRASS_USDT	+0.0100%	4h	0.4429	+0.138%	$1.7M	$2.6M	100x	as long as short
KuCoin GRASSUSDTM	+0.0100%	4h	0.4419	−0.088%	$1.3M	$1.8M	50x	as long as short
Bitget GRASSUSDT	+0.0100%	4h	0.4412	−0.244%	$5.1M	$3.4M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX GRASS-USDT	+0.0100%	4h	0.4415	−0.179%	—	$7.3M	—	as long as short
Variational Omni GRASS	+0.0100%	4h	0.4417	−0.140%	$2.2M	$1.3M	—	as long as short
Extended GRASS-USD	+0.0104%	1h	0.4414	−0.208%	$222K	$699K	10x	as long as short
Kraken Futures PF_GRASSUSD	+0.0318%	1h	0.4419	−0.097%	$159K	$143K	20x	as long as short
Hyperliquid GRASSlong	+0.0330%	1h	0.4423	long leg	$16.8M	$4.2M	3x
Aster GRASSUSDT	+0.0450%	4h	0.4418	−0.111%	$61K	$251K	10x	as long as short
Lighter GRASS	+0.1440%	1h	0.4439	+0.353%	$863K	$971K	5x	as long as short