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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.029%
Price spread now: Hyperliquid against OKX+0.098%7-day average +0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$200.203% of the position
Long on OKXShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.068%+$7 on $10k
Price spread, last 7 days−0.087%−$9 · spread now +0.098%, 7d avg +0.039%
Together, before fees−0.019%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 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 0.059% dearer against OKX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.039%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX BTC-USDT-SWAP86,539.50.0100pay 0.0100% / 8h7h 58m$2.55B$12.73B100x
ShortHyperliquid BTC86,624.50.0100get 0.0013% / 1h58m 36s$3.80B$5.10B40x

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

Funding earned
$0
Price spread: +0.098% → +0.039%
$5.92
Slippage, 4 orders
−$1.31
Fee OKX: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$14.39
Costs to cover
0.203%
Break-even
never at this rate
Slippage from OKX: live order book, 6 min ago; Hyperliquid: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 6 min ago0.01 bp5.0 bp −$55.0 bp −$505.0 bp −$5036.6 bp −$3,293
Sell Hyperliquid live order book, 6 min ago0.06 bp5.7 bp −$66.1 bp −$616.9 bp −$686doesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.8000%1h86,597+0.066%$140K$663K40xas long as short
Phoenix BTC−0.0118%1h86,586+0.054%$2.2M$11.1M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,520−0.023%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,540.9+0.002%$361K$2.4M50xas long as short
Perpl BTC0.0000%43m86,594.1+0.063%$413K$22.2M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,596.7+0.066%$37.0M—200xas long as short
Aster BTCUSDT+0.0016%8h86,548.7+0.011%$502.0M$1.15B200xas long as short
Injective BTC/USDC PERP+0.0023%1h86,616+0.088%$333K$26.9M52xas long as short
dYdX BTC-USD+0.0027%1h86,556.2+0.019%$17.0M$21.2M50xas long as short
KuCoin XBTUSDTM+0.0028%8h86,534.2−0.006%$834.8M$728.7M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0039%1h86,588.6+0.057%$6.6M$145.6M40xas long as short
BingX BTC-USDC+0.0045%8h86,522−0.020%—$15.3M—as long as short
RISEx BTC/USDC+0.0052%1h86,544.1+0.005%$8.4M$42.8M25xas long as short
Phemex BTCUSDT+0.0057%8h86,583.4+0.051%$152.8M$479.5M150xas long as short
Bitget BTCUSDT+0.0058%8h86,531−0.010%$2.97B$5.12B150xas long as short
SoDEX BTC-USD+0.0066%1h86,578+0.044%$60.6M$338.0M40xas long as short
MEXC BTC_USDT+0.0076%8h86,523.5−0.018%$5.16B$5.64B500xas long as short
Binance BTCUSDT+0.0077%8h86,521.4−0.021%$9.44B$24.54B150xas long as short
Aevo BTC-PERP+0.0080%1h86,576.3+0.043%$2.5M$1.2M20xas long as short
Gate BTC_USDT+0.0083%8h86,533.3−0.007%$5.88B$10.42B200xas long as short
Lighter BTC+0.0096%1h86,526.3−0.015%$170.3M$979.4M50xas long as short
Lighter RH BTC+0.0096%1h86,534.2−0.006%$23.7M$148.5M50xas long as short
Popdex BTCUSDT+0.0096%1h86,524−0.018%$8.5M$52.2M100xas long as short
Bybit BTCUSDT+0.0099%8h86,526.4−0.015%$5.27B$9.80B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,513−0.031%$198K$7.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,557.1+0.020%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,584.9+0.052%$22.0M$234.1M50xas long as short
Hyperliquid BTCshort+0.0100%1h86,624.5+0.098%$3.80B$5.10B40x
Pacifica BTC+0.0100%1h86,553.4+0.016%$40.8M$540.8M50xas long as short
OKX BTC-USDT-SWAPlong+0.0100%8h86,539.5long leg$2.55B$12.73B100x
Ondo Perps BTC-USD.P+0.0100%1h86,539−0.001%$3.9M$18.1M25xas long as short
Arcus BTC-USD+0.0100%1h86,568.3+0.033%$7.3M$96.8M40xas long as short
Bulk BTC-USD+0.0100%1h86,523.6−0.018%$572.9M$12.4M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,552.5+0.015%$38.2M$156.0M75xas long as short
Variational Omni BTC+0.0100%8h86,554.4+0.017%$157.4M$568.6M—as long as short
edgeX BTCUSDC+0.0100%4h86,550.1+0.012%$279.6M$948.7M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,585.4+0.053%$217.4M$171.3M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,575+0.041%$141.8M$323.5M100xas long as short
StandX BTC-USD+0.0100%1h86,588+0.056%$30.7M$208.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,637.8+0.114%—$11.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,592+0.061%$11.1M$13.9M50xas long as short
Bullet BTC-USD+0.0100%1h86,582+0.049%$194K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,574.5+0.040%$2.5M$9.3M100xas long as short
Derive BTC-PERP+0.0100%1h86,611.8+0.084%$30.5M$62.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,586.5+0.054%$3.4M$5.3M100xas long as short
HTX BTC-USDT+0.0100%8h86,577.2+0.044%$2.30B$970.2M200xas long as short
Extended BTC-USD+0.0104%1h86,510.4−0.034%$45.8M$225.0M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,601.3+0.071%—$100.1M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,626.5+0.101%$132.2M$5.64B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,611.9+0.084%$193.5M$952.6M100xas long as short
Aftermath Perps BTCUSD+0.0163%1h86,579.1+0.046%$78K$219K20xas long as short
Deribit BTC-PERPETUAL+0.0164%1h86,624.6+0.098%$910.2M$1.50B50xas long as short
Hibachi BTC/USDT-P+0.0176%1h86,624.7+0.098%$717K$8.1M30xas long as short
BloFin BTC-USDT+0.0197%8h86,561+0.025%$415.4M$659.9M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0201% / S −0.0224%1h86,591.7+0.060%$14.9M—200xas long as short
Kalshi KXBTCPERP+0.0210%8h86,606+0.077%$10.1M$756.8M6.4xas long as short