Funding arb · Price arb /

0G

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.165%

Price spread now: Hyperliquid against OKX+0.230%7-day average +0.191% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$940.945% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.686%+$69 on $10k

Price spread, last 7 days−0.079%−$8 · spread now +0.230%, 7d avg +0.191%

Together, before fees+0.607%+ Points / potential airdropHyperliquid: Season 2 · farm board+$61 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hyperliquid is 0.040% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.191%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX 0G-USDT-SWAP	0.2359	0.0100	pay 0.0050% / 4h	3h 51m	$874K	$2.4M	20x
Short	Hyperliquid 0G	0.2364	0.0256	get 0.0032% / 1h	51m 48s	$2.5M	$437K	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 +0.230%Rate

Funding earned: $32.81
Price spread: +0.230% → +0.191%: $3.96
Slippage, 4 orders: −$75.47
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$57.7
Costs to cover: 0.945%
Break-even: 19.3 days

Slippage from OKX: live order book, 5 min ago; Hyperliquid: live order book, 9 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, 5 min ago	4.22 bp	23.3 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.85 bp	17.9 bp −$18	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-USDT	−0.0364%	4h	0.2360	+0.042%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2359	+0.006%	$2K	—	100x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2360	+0.060%	$16K	$49K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2360	+0.042%	$7.0M	$8.6M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2358	−0.042%	$2.4M	$2.3M	50x	as long as short
OKX 0G-USDT-SWAPlong	+0.0100%	4h	0.2359	long leg	$874K	$2.4M	20x
Gate 0G_USDT	+0.0100%	8h	0.2359	0.000%	$600K	$210K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2359	0.000%	$2.1M	$249K	50x	as long as short
KuCoin 0GUSDTM	+0.0100%	4h	0.2360	+0.038%	$2.2M	$2.2M	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2361	+0.085%	$1.9M	$817K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack 0G_USDC_PERP	+0.0100%	1h	0.2361	+0.085%	$34K	$62K	5x	as long as short
Variational Omni 0G	+0.0100%	4h	0.2362	+0.132%	$15K	$7K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2361	+0.085%	$18K	$627K	50x	as long as short
BloFin 0G-USDT	+0.0158%	4h	0.2363	+0.170%	$329K	$10K	50x	as long as short
Hyperliquid 0Gshort	+0.0256%	1h	0.2364	+0.230%	$2.5M	$437K	3x
Lighter 0G	+0.0752%	1h	0.2364	+0.212%	$49K	$87K	3x	as long as short