Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against Hyperliquid−0.005%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$760.756% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 4 days (all we have)+0.065%+$7 · spread now −0.005%, 7d avg +0.034%

Together, before fees+0.024%+ 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: OKX is 0.039% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRB	19.071	0.0100	pay 0.0013% / 1h	14m 08s	$475K	$269K	3x
Short	OKX TRB-USDT-SWAP	19.070	0.0100	get 0.0050% / 4h	2h 14m	$4.3M	$5.3M	20x

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 −0.005%Rate

Funding earned: $0
Price spread: −0.005% → +0.034%: −$3.94
Slippage, 4 orders: −$56.58
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$79.52
Costs to cover: 0.756%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 66 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, 66 min ago	1.30 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	2.63 bp	16.6 bp −$17	86.9 bp −$869	doesn't fit	doesn't fit

TRB on 13 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
Hyperliquid TRBlong	+0.0100%	1h	19.071	long leg	$475K	$269K	3x
Aster TRBUSDT	+0.0100%	4h	19.036	−0.185%	$7K	$25K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.053	−0.093%	$5.0M	$11.7M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.084	+0.068%	$6.2M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAPshort	+0.0100%	4h	19.070	−0.005%	$4.3M	$5.3M	20x
MEXC TRB_USDT	+0.0100%	4h	19.053	−0.094%	$15.2M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.053	−0.094%	$1.2M	$332K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.063	−0.042%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.048	−0.121%	—	$18.2M	—	as long as short
Variational Omni TRB	+0.0100%	4h	19.040	−0.163%	$15K	$4K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin TRB-USDT	+0.0158%	4h	19.023	−0.252%	$351K	$166K	50x	as long as short
Gate TRB_USDT	+0.0206%	4h	19.060	−0.058%	$588K	$2.2M	50x	as long as short
Kraken Futures PF_TRBUSD	+0.1244%	1h	19.106	+0.186%	$103K	$51K	10x	as long as short