Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Hyperliquid against BingX+0.259%7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1691.693% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.131%−$13 · spread now +0.259%, 7d avg +0.127%

Together, before fees−0.126%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.132% dearer against BingX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.127%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BRETT-USDT	0.005787	0.0100	pay 0.0050% / 4h	48m 31s	—	$1.4M	—
Short	Hyperliquid BRETT	0.005802	0.0100	get 0.0013% / 1h	48m 31s	$313K	$259K	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 +0.259%Rate

Funding earned: $0
Price spread: +0.259% → +0.127%: $13.24
Slippage, 4 orders: −$150.29
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$156.05
Costs to cover: 1.693%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Hyperliquid: live order book, 41 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 BingX live order book, 11 min ago	9.47 bp	42.3 bp −$42	139.5 bp −$1,395	660.0 bp −$66.0K	890.0 bp −$445.0K
Sell Hyperliquid live order book, 41 min ago	2.56 bp	42.8 bp −$43	doesn't fit	doesn't fit	doesn't fit

BRETT 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
GMX BRETT/USD [ETH-USDC]	L 0.0000% / S 0.0000%	1h	0.005767	−0.346%	—	—	100x	as long as short
Injective BRETT/USDC PERP	+0.0033%	1h	0.005839	+0.899%	$61	$854	5.5x	as long as short
BloFin BRETT-USDT	+0.0055%	4h	0.005761	−0.449%	$57K	$186K	50x	as long as short
Hyperliquid BRETTshort	+0.0100%	1h	0.005802	+0.259%	$313K	$259K	3x
Binance BRETTUSDT	+0.0100%	4h	0.005787	+0.001%	$1.2M	$2.6M	50x	as long as short
Bybit BRETTUSDT	+0.0100%	4h	0.005778	−0.156%	$2.1M	$1.9M	25x	as long as short
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005780	−0.121%	$132K	$267K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005781	−0.104%	$429K	$105K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005788	+0.017%	$12.3M	$203K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005780	−0.121%	$305K	$79K	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BRETTUSDT	+0.0100%	4h	0.005777	−0.173%	$1.4M	$579K	50x	as long as short
BingX BRETT-USDTlong	+0.0100%	4h	0.005787	long leg	—	$1.4M	—
Variational Omni BRETT	+0.0100%	4h	0.005788	+0.017%	$42K	$104K	—	as long as short
Kraken Futures PF_BRETTUSD	+0.0624%	1h	0.005775	−0.214%	$43K	$76K	10x	as long as short