Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.2304%/8h= +252.3% APRpaid last 24h +0.426%

Price spread now: Hyperliquid against BingX+0.065%7-day average +0.220% · you sell dearer than you buy

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

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+3.352%+$335 on $10k

Price spread, last 7 days+0.138%+$14 · spread now +0.065%, 7d avg +0.220%

Together, before fees+3.490%+ Points / potential airdropHyperliquid: Season 2 · farm board+$349 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.155% cheaper against BingX than usual: you would sell low and buy high (spread +0.065% now, against its 7-day average of +0.220%). If the spread goes back, that is −$16 on $10k: about 5 hours of funding at the current rate (+$69 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 0G-USDT	0.2316	−0.1190	get 0.0595% / 4h	1h 41m	—	$6.5M	—
Short	Hyperliquid 0G	0.2318	0.1114	get 0.0139% / 1h	41m 02s	$2.5M	$505K	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

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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 +0.065%Rate

Funding earned: $483.8
Price spread: +0.065% → +0.220%: −$15.51
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $449.29
Costs to cover: 0.190%
Break-even: 0.5 days

Slippage unknown: BingX: live order book, 10 min ago; Hyperliquid: live order book, 10 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 BingX live order book, 10 min ago	6.51 bp	21.1 bp −$21	50.4 bp −$504	564.7 bp −$56.5K	1336.3 bp −$668.1K
Sell Hyperliquid live order book, 10 min ago	1.52 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit

0G on 16 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
BingX 0G-USDTlong	−0.1190%	4h	0.2316	long leg	—	$6.5M	—
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2310	−0.240%	$2K	—	100x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2314	−0.086%	$18K	$41K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2316	+0.015%	$6.8M	$8.9M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2314	−0.086%	$2.3M	$2.4M	50x	as long as short
OKX 0G-USDT-SWAP	+0.0100%	4h	0.2318	+0.086%	$892K	$2.4M	20x	as long as short
Gate 0G_USDT	+0.0100%	8h	0.2312	−0.173%	$599K	$145K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2313	−0.130%	$2.0M	$193K	50x	as long as short
KuCoin 0GUSDTM	+0.0100%	4h	0.2316	−0.004%	$2.4M	$2.4M	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2314	−0.086%	$1.9M	$729K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 0G	+0.0100%	4h	0.2312	−0.192%	$13K	$3K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2324	+0.328%	$18K	$624K	50x	as long as short
BloFin 0G-USDT	+0.0127%	4h	0.2325	+0.389%	$326K	$9K	50x	as long as short
Backpack 0G_USDC_PERP	+0.0312%	1h	0.2313	−0.130%	$31K	$50K	5x	as long as short
Hyperliquid 0Gshort	+0.1114%	1h	0.2318	+0.065%	$2.5M	$505K	3x
Lighter 0G	+0.1520%	1h	0.2318	+0.086%	$48K	$104K	3x	as long as short