Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0195%/8h= −21.4% APRpaid last 24h −0.098%

Price spread now: OKX against Hyperliquid−0.032%7-day average −0.115% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.344%−$34 on $10k

Price spread, last 7 days+0.010%+$1 · spread now −0.032%, 7d avg −0.115%

Together, before fees−0.334%+ Points / potential airdropHyperliquid: Season 2 · farm board−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.083% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.032% now, against its 7-day average of −0.115%): +$8 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ARB	0.2183	0.0100	pay 0.0013% / 1h	0m 04s	$36.9M	$48.8M	10x
Short	OKX ARB-USDT-SWAP	0.2182	−0.0095	pay 0.0095% / 8h	3h 00m	$21.8M	$142.2M	50x

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 −0.032%Rate

Funding earned: −$40.95
Price spread: −0.032% → −0.115%: $8.3
Slippage, 4 orders: −$16.92
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$68.57
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; OKX: live order book, 4 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 Hyperliquid live order book, 3 min ago	0.69 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.23 bp	9.2 bp −$9	27.4 bp −$274	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1589%	1h	0.2169	−0.646%	$39K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0184%	1h	0.2182	−0.046%	$71K	$2.1M	10x	as long as short
OKX ARB-USDT-SWAPshort	−0.0095%	8h	0.2182	−0.032%	$21.8M	$142.2M	50x
MEXC ARB_USDT	−0.0094%	8h	0.2183	−0.018%	$41.5M	$61.3M	200x	as long as short
Variational Omni ARB	−0.0093%	8h	0.2180	−0.134%	$1.8M	$3.0M	—	as long as short
Orderly PERP_ARB_USDC	−0.0061%	8h	0.2182	−0.050%	$12K	$407K	10x	as long as short
Bybit ARBUSDT	−0.0058%	8h	0.2182	−0.073%	$54.5M	$123.6M	50x	as long as short
Kraken Futures PF_ARBUSD	−0.0050%	1h	0.2184	+0.036%	$1.1M	$4.4M	50x	as long as short
01 Exchange ARBUSD	−0.0048%	1h	0.2183	−0.005%	$7K	$1K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2185	+0.069%	$65K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2183	−0.009%	$24K	$31K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0009%	1h	0.2183	−0.016%	$44K	—	150x	as long as short
Gate ARB_USDT	+0.0008%	8h	0.2182	−0.037%	$5.3M	$18.3M	60x	as long as short
Bitget ARBUSDT	+0.0050%	8h	0.2182	−0.050%	$20.8M	$34.1M	50x	as long as short
Extended ARB-USD	+0.0064%	1h	0.2181	−0.088%	$348K	$2.8M	25x	as long as short
BingX ARB-USDC	+0.0064%	8h	0.2180	−0.119%	—	$6.5M	—	as long as short
Binance ARBUSDT	+0.0068%	8h	0.2183	−0.006%	$62.8M	$300.5M	75x	as long as short
Lighter ARB	+0.0096%	1h	0.2182	−0.027%	$1.2M	$5.5M	15x	as long as short
Aevo ARB-PERP	+0.0096%	1h	0.2183	+0.002%	$138K	$7K	3x	as long as short
Hyperliquid ARBlong	+0.0100%	1h	0.2183	long leg	$36.9M	$48.8M	10x
Aster ARBUSDT	+0.0100%	8h	0.2183	+0.009%	$629K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2183	−0.001%	$42K	$160K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2183	+0.014%	$19.5M	$14.5M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2178	−0.250%	$38K	$464K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2176	−0.325%	$472K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2178	−0.234%	$117K	$283K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2186	+0.133%	$2K	$1.1M	30x	as long as short
SoDEX ARB-USD	+0.0100%	1h	0.2183	−0.005%	$10K	$2.2M	5x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2184	+0.046%	$295K	$877K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2183	−0.005%	$4.9M	$12.8M	50x	as long as short
RISEx ARB/USDC	+0.0118%	1h	0.2184	+0.046%	$441K	$2.6M	10x	as long as short
BloFin ARB-USDT	+0.0187%	8h	0.2182	−0.027%	$3.1M	$2.5M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0256%	1h	0.2187	+0.179%	$500K	$1.6M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0277% / S −0.0160%	1h	0.2183	−0.017%	$829K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2181	−0.085%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0586%	1h	0.2185	+0.101%	$980K	$2.8M	20x	as long as short