Funding you earn now, next payment 04:00 UTC−0.1749%/8h= −191.5% APRnext payment −$2.19 per $10,000 · paid last 24h −0.563%
Price spread now: Injective against Hyperliquid−1.112%93s7-day average −0.516% · you buy dearer than you sell
Net, funding: paid 7d − costs−$488as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1161.157% of the position
Funding, last 7 days−3.727%−$373 on $10k
+Price spread, last 4 days (all we have)+1.934%+$193 · spread now −1.112%, 7d avg −0.516%
=Together, before fees−1.793%+ Points / potential airdropHyperliquid: Season 2 · farm board−$179 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$52 a day on $10k at the current rate, and Injective is 0.596% cheaper against Hyperliquid than usual: you would sell low and buy high (−$60 if the spread goes back to its 7-day average of −0.516%). Swap the legs. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ARB | 0.2203 | 0.0100 | pay 0.0013% / 1h | 31m 50s | $37.9M | $48.8M | 10x |
| Short | Injective ARB/USDC PERP | 0.2179 | −0.1649 | pay 0.0206% / 1h | 31m 50s | $39K | $372K | 12x |
Hyperliquid ARB
Injective ARB/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Hyperliquid. 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
- −$367.35
- Price spread: −1.112% → −0.516%
- −$59.58
- Slippage, 4 orders
- −$106.72
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$542.67
- Costs to cover
- 1.157%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 12 min ago; Injective: live order book, 27 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, 12 min ago | 0.68 bp | 7.7 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective live order book, 27 min ago | 49.82 bp | 49.8 bp −$50 | doesn't fit | 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 PERPshort | −0.1649% | 1h | 0.2179 | −1.112% | $39K | $372K | 12x | |
| 01 Exchange ARBUSD | −0.0176% | 1h | 0.2198 | −0.245% | $7K | $2K | 10x | as long as short |
| OKX ARB-USDT-SWAP | −0.0137% | 8h | 0.2203 | −0.005% | $22.1M | $148.7M | 50x | as long as short |
| MEXC ARB_USDT | −0.0136% | 8h | 0.2202 | −0.077% | $42.1M | $60.7M | 200x | as long as short |
| Polymarket Perps ARB-USD | −0.0135% | 1h | 0.2200 | −0.177% | $89K | $2.2M | 10x | as long as short |
| Variational Omni ARB | −0.0112% | 8h | 0.2184 | −0.886% | $1.8M | $2.9M | — | as long as short |
| Orderly PERP_ARB_USDC | −0.0076% | 8h | 0.2201 | −0.113% | $12K | $395K | 10x | as long as short |
| Gate ARB_USDT | −0.0076% | 8h | 0.2203 | −0.045% | $5.3M | $18.8M | 60x | as long as short |
| Bybit ARBUSDT | −0.0032% | 8h | 0.2203 | −0.009% | $55.6M | $126.9M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0006% | 1h | 0.2202 | −0.080% | $1.1M | $4.4M | 50x | as long as short |
01 Exchange ARBUSD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Polymarket Perps ARB-USD
Variational Omni ARB
Orderly PERP_ARB_USDC
Gate ARB_USDT
Bybit ARBUSDT
Kraken Futures PF_ARBUSDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ARB-USD | 0.0000% | 1h | 0.2203 | −0.027% | $65K | $5K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2202 | −0.054% | $24K | $34K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0006% | 1h | 0.2201 | −0.093% | $32K | — | 150x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2201 | −0.101% | $350K | $2.5M | 25x | as long as short |
| Binance ARBUSDT | +0.0013% | 8h | 0.2204 | +0.009% | $64.1M | $307.4M | 75x | as long as short |
| BloFin ARB-USDT | +0.0035% | 8h | 0.2197 | −0.295% | $3.1M | $2.6M | 75x | as long as short |
| BingX ARB-USDT | +0.0063% | 8h | 0.2202 | −0.082% | — | $53.9M | — | as long as short |
| SoDEX ARB-USD | +0.0064% | 1h | 0.2202 | −0.086% | $10K | $2.3M | 5x | as long as short |
| Bitget ARBUSDT | +0.0065% | 8h | 0.2202 | −0.068% | $20.9M | $34.9M | 50x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2202 | −0.077% | $140K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2202 | −0.050% | $1.2M | $5.7M | 15x | as long as short |
| Hyperliquid ARBlong | +0.0100% | 1h | 0.2203 | long leg | $37.9M | $48.8M | 10x | |
| Aster ARBUSDT | +0.0100% | 8h | 0.2203 | −0.004% | $634K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2200 | −0.144% | $42K | $169K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2203 | −0.045% | $19.5M | $15.0M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2190 | −0.635% | $39K | $462K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2191 | −0.580% | $474K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2191 | −0.567% | $118K | $284K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2203 | −0.023% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2200 | −0.141% | $299K | $952K | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2201 | −0.113% | $4.9M | $13.0M | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0224% | 1h | 0.2201 | −0.113% | $492K | $1.9M | 50x | as long as short |
| RISEx ARB/USDC | +0.0225% | 1h | 0.2199 | −0.187% | $461K | $2.6M | 10x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0274% / S −0.0157% | 1h | 0.2201 | −0.115% | $824K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0289% | 1h | 0.2199 | −0.183% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0610% | 1h | 0.2205 | +0.059% | $993K | $2.8M | 20x | as long as short |
dYdX ARB-USD
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Extended ARB-USD
Binance ARBUSDT
BloFin ARB-USDT
BingX ARB-USDT
SoDEX ARB-USD
Bitget ARBUSDT
Aevo ARB-PERP
Lighter ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
Coinbase International ARB-PERP-INTX
RISEx ARB/USDC
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP