Funding you earn now, next payment 03:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.100%
Price spread now: Orderly against Hyperliquid−0.125%7-day average −0.085% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.420%−$42 on $10k
+Price spread, last 4 days (all we have)+2.631%+$263 · spread now −0.125%, 7d avg −0.085%
=Together, before fees+2.210%+ Points / potential airdropHyperliquid: Season 2 · farm board+$221 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Orderly is 0.040% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.085%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ARB | 0.2242 | 0.0100 | pay 0.0013% / 1h | 21m 01s | $38.9M | $49.1M | 10x |
| Short | Orderly PERP_ARB_USDC | 0.2239 | −0.0072 | pay 0.0072% / 8h | 5h 21m | $13K | $386K | 10x |
Hyperliquid ARB
Orderly PERP_ARB_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$36.06
- Price spread: −0.125% → −0.085%
- −$4.03
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$55.09
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 12 min ago; Orderly: no order-book sample. 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 Hyperliquid live order book, 12 min ago | 0.67 bp | 10.9 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.1577% | 1h | 0.2227 | −0.660% | $40K | $372K | 12x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0152% | 1h | 0.2240 | −0.103% | $25K | $34K | 25x | as long as short |
| Variational Omni ARB | −0.0147% | 8h | 0.2240 | −0.101% | $1.9M | $2.9M | — | as long as short |
| OKX ARB-USDT-SWAP | −0.0135% | 8h | 0.2237 | −0.205% | $22.5M | $151.3M | 50x | as long as short |
| MEXC ARB_USDT | −0.0134% | 8h | 0.2239 | −0.143% | $38.3M | $59.2M | 200x | as long as short |
| 01 Exchange ARBUSD | −0.0120% | 1h | 0.2243 | +0.045% | $7K | $2K | 10x | as long as short |
| Gate ARB_USDT | −0.0109% | 8h | 0.2240 | −0.062% | $5.4M | $19.2M | 60x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0097% | 1h | 0.2241 | −0.029% | $1.1M | $4.5M | 50x | as long as short |
| Polymarket Perps ARB-USD | −0.0089% | 1h | 0.2242 | +0.018% | $96K | $2.1M | 10x | as long as short |
| Bybit ARBUSDT | −0.0088% | 8h | 0.2239 | −0.138% | $57.0M | $126.0M | 50x | as long as short |
Injective ARB/USDC PERP
Deribit ARB_USDC-PERPETUAL
Variational Omni ARB
OKX ARB-USDT-SWAP
MEXC ARB_USDT
01 Exchange ARBUSD
Gate ARB_USDT
Kraken Futures PF_ARBUSD
Polymarket Perps ARB-USD
Bybit ARBUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ARB_USDCshort | −0.0072% | 8h | 0.2239 | −0.125% | $13K | $386K | 10x | |
| SoDEX ARB-USD | −0.0063% | 1h | 0.2240 | −0.085% | $10K | $2.4M | 5x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2242 | +0.017% | $66K | $5K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0013% | 1h | 0.2241 | −0.016% | $11K | — | 150x | as long as short |
| Binance ARBUSDT | +0.0021% | 8h | 0.2240 | −0.089% | $65.3M | $307.0M | 75x | as long as short |
| Extended ARB-USD | +0.0024% | 1h | 0.2237 | −0.207% | $356K | $2.5M | 25x | as long as short |
| Phemex ARBUSDT | +0.0066% | 8h | 0.2240 | −0.080% | $5.0M | $12.9M | 50x | as long as short |
| Bitget ARBUSDT | +0.0082% | 8h | 0.2239 | −0.125% | $21.4M | $34.6M | 50x | as long as short |
| BingX ARB-USDT | +0.0084% | 8h | 0.2240 | −0.071% | — | $54.0M | — | as long as short |
| BloFin ARB-USDT | +0.0085% | 8h | 0.2240 | −0.098% | $3.1M | $2.7M | 75x | as long as short |
| Aevo ARB-PERP | +0.0088% | 1h | 0.2242 | −0.011% | $142K | $7K | 3x | as long as short |
| ApeX Omni ARBUSDT | +0.0089% | 1h | 0.2238 | −0.170% | $121K | $283K | 50x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2240 | −0.071% | $1.2M | $6.4M | 15x | as long as short |
| Hyperliquid ARBlong | +0.0100% | 1h | 0.2242 | long leg | $38.9M | $49.1M | 10x | |
| Aster ARBUSDT | +0.0100% | 8h | 0.2241 | −0.033% | $656K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2241 | −0.024% | $43K | $175K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2241 | −0.054% | $19.8M | $15.4M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2224 | −0.796% | $40K | $461K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2236 | −0.259% | $484K | $3.6M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2245 | +0.143% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2241 | −0.031% | $300K | $930K | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0224% | 1h | 0.2244 | +0.098% | $511K | $2.0M | 50x | as long as short |
| RISEx ARB/USDC | +0.0232% | 1h | 0.2244 | +0.094% | $490K | $2.6M | 10x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0273% / S −0.0155% | 1h | 0.2241 | −0.034% | $837K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2241 | −0.036% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0598% | 1h | 0.2243 | +0.076% | $1.0M | $2.8M | 20x | as long as short |
SoDEX ARB-USD
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Binance ARBUSDT
Extended ARB-USD
Phemex ARBUSDT
Bitget ARBUSDT
BingX ARB-USDT
BloFin ARB-USDT
Aevo ARB-PERP
ApeX Omni ARBUSDT
Lighter ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
SunX ARB-USDT
HTX ARB-USDT
Coinbase International ARB-PERP-INTX
RISEx ARB/USDC
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP