Funding you earn now, next payment 22:00 UTC−0.0176%/8h= −19.3% APRnext payment −$0.22 per $10,000 · paid last 24h +0.020%
Price spread now: Hyperliquid against GMX+0.104%7-day average +0.069% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.031%−$3 on $10k
+Price spread, last 3 days (all we have)−0.500%−$50 · spread now +0.104%, 7d avg +0.069%
=Together, before fees−0.531%+ Points / potential airdropHyperliquid: Season 2 · farm board−$53 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.036% dearer against GMX than usual: you sell high and buy low (spread +0.104% now, against its 7-day average of +0.069%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 3 days (−0.031% in total) that is about 3.5 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX ARB/USD [ARB-USDC] | 0.2234 | L +0.0276% / S −0.0168% | pay 0.0034% / 1h | 40m 53s | $819K | — | 150x |
| Short | Hyperliquid ARB | 0.2236 | 0.0100 | get 0.0013% / 1h | 40m 53s | $40.0M | $53.2M | 10x |
GMX ARB/USD [ARB-USDC]
Hyperliquid ARBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$36.94
- Price spread: +0.104% → +0.069%
- $3.56
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$54.38
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 13 min ago. Net counts fees only.
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 GMX no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 13 min ago | 0.23 bp | 8.9 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.1675% | 1h | 0.2219 | −0.670% | $40K | $107K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0352% | 1h | 0.2231 | −0.115% | $7K | $2K | 10x | as long as short |
| Bybit ARBUSDT | −0.0227% | 8h | 0.2234 | +0.015% | $57.1M | $135.9M | 50x | as long as short |
| Variational Omni ARB | −0.0187% | 8h | 0.2221 | −0.587% | $1.9M | $2.8M | — | as long as short |
| OKX ARB-USDT-SWAP | −0.0067% | 8h | 0.2234 | −0.008% | $22.2M | $165.7M | 50x | as long as short |
| MEXC ARB_USDT | −0.0065% | 8h | 0.2231 | −0.133% | $37.7M | $63.3M | 200x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0063% | 1h | 0.2235 | +0.024% | $37K | $18K | 25x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0053% | 1h | 0.2236 | +0.075% | $1.1M | $5.3M | 50x | as long as short |
| SoDEX ARB-USD | −0.0053% | 1h | 0.2233 | −0.034% | $4K | $2.9M | 5x | as long as short |
| Polymarket Perps ARB-USD | −0.0013% | 1h | 0.2232 | −0.079% | $77K | $2.3M | 10x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Bybit ARBUSDT
Variational Omni ARB
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Deribit ARB_USDC-PERPETUAL
Kraken Futures PF_ARBUSD
SoDEX ARB-USD
Polymarket Perps ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni ARBUSDT | −0.0011% | 1h | 0.2222 | −0.536% | $120K | $297K | 50x | as long as short |
| Orderly PERP_ARB_USDC | −0.0010% | 8h | 0.2233 | −0.043% | $10K | $385K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2231 | −0.132% | $66K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2234 | +0.001% | $55K | — | 150x | as long as short |
| Binance ARBUSDT | +0.0005% | 8h | 0.2236 | +0.086% | $63.6M | $326.3M | 75x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2231 | −0.144% | $355K | $2.5M | 25x | as long as short |
| Gate ARB_USDT | +0.0018% | 8h | 0.2234 | +0.001% | $5.5M | $21.5M | 60x | as long as short |
| BloFin ARB-USDT | +0.0022% | 8h | 0.2233 | −0.021% | $3.0M | $3.3M | 75x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2234 | +0.008% | $146K | $12K | 3x | as long as short |
| BingX ARB-USDC | +0.0083% | 8h | 0.2234 | −0.008% | — | $6.5M | — | as long as short |
| Bitget ARBUSDT | +0.0084% | 8h | 0.2234 | +0.001% | $21.0M | $38.9M | 50x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2235 | +0.046% | $1.3M | $7.7M | 15x | as long as short |
| Hyperliquid ARBshort | +0.0100% | 1h | 0.2236 | +0.104% | $40.0M | $53.2M | 10x | |
| Aster ARBUSDT | +0.0100% | 8h | 0.2233 | −0.045% | $695K | $1.8M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2230 | −0.160% | $46K | $207K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2234 | −0.012% | $20.6M | $17.1M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2221 | −0.560% | $38K | $451K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2222 | −0.518% | $477K | $4.2M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2233 | −0.043% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2233 | −0.039% | $274K | $1.2M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2229 | −0.222% | $5.4M | $13.8M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC]long | L +0.0276% / S −0.0168% | 1h | 0.2234 | long leg | $819K | — | 150x | |
| Coinbase International ARB-PERP-INTX | +0.0288% | 1h | 0.2235 | +0.024% | $507K | $2.5M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0291% | 1h | 0.2232 | −0.104% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0513% | 1h | 0.2238 | +0.185% | $1.1M | $2.8M | 20x | as long as short |
| RISEx ARB/USDC | +0.0546% | 1h | 0.2233 | −0.064% | $490K | $2.9M | 10x | as long as short |
ApeX Omni ARBUSDT
Orderly PERP_ARB_USDC
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Binance ARBUSDT
Extended ARB-USD
Gate ARB_USDT
BloFin ARB-USDT
Aevo ARB-PERP
BingX ARB-USDC
Bitget ARBUSDT
Lighter ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
Coinbase International ARB-PERP-INTX
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP
RISEx ARB/USDC