Funding arb · Price arb /

HIMS

RWAall HIMS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.001%

Price spread now: tradeXYZ against OKX−0.048%7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1741.744% of the position

Long on OKX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now −0.048%, 7d avg −0.089%

Together, before fees−0.127%+ Points / potential airdroptradeXYZ: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.041% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HIMS-USDT-SWAP	29.260	0	get 0.0000% / 8h	5h 00m	$287K	$172K	20x
Short	tradeXYZ xyz:HIMS	29.246	0.0050	get 0.0006% / 1h	0m 54s	$3.3M	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.048%Rate

Funding earned: $10.5
Price spread: −0.048% → −0.089%: $4.08
Slippage, 4 orders: −$146.37
Fee OKX: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$159.79
Costs to cover: 1.744%
Break-even: 113.5 days

Slippage from OKX: live order book, 59 min ago; tradeXYZ: live order book, 7 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, 59 min ago	8.54 bp	84.7 bp −$85	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 7 min ago	3.93 bp	14.2 bp −$14	doesn't fit	doesn't fit	doesn't fit

HIMS 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
Nado HIMS-PERP	−0.0188%	1h	29.255	−0.016%	$2K	$2K	10x	as long as short
QFEX HIMS-USD	−0.0010%	1h	29.250	−0.034%	$1.3M	$568K	10x	as long as short
Aster HIMSUSDT	0.0000%	8h	29.271	+0.036%	$4K	$2K	20x	as long as short
Binance HIMSUSDT	0.0000%	8h	29.271	+0.038%	$966K	$2.6M	20x	as long as short
Bybit HIMSUSDT	0.0000%	8h	29.270	+0.034%	$297K	$119K	25x	as long as short
OKX HIMS-USDT-SWAPlong	0.0000%	8h	29.260	long leg	$287K	$172K	20x
Gate HIMS_USDT	0.0000%	8h	29.233	−0.092%	$506K	$202K	25x	as long as short
Variational Omni HIMS	0.0000%	8h	29.264	+0.015%	$98K	$78K	—	as long as short
SunX HIMS-USDT	0.0000%	8h	29.251	−0.031%	—	$2.4M	10x	as long as short
HTX HIMS-USDT	0.0000%	8h	29.323	+0.215%	$7K	$38K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest HIMS-USD-PERP	+0.0046%	1h	29.260	0.000%	—	—	10x	as long as short
tradeXYZ xyz:HIMSshort	+0.0050%	1h	29.246	−0.048%	$3.3M	$1.6M	10x
KuCoin HIMSUSDTM	+0.0100%	8h	29.260	0.000%	$134K	$35K	20x	as long as short
Injective HIMS/USDC PERP	+0.0220%	1h	29.550	+0.991%	$13K	$22K	5.5x	as long as short