Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.085%

Price spread now: Hyperliquid against Polymarket Perps−0.023%7-day average +0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs+$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Polymarket Perps Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.642%+$64 on $10k

Price spread, last 7 days+0.024%+$2 · spread now −0.023%, 7d avg +0.106%

Together, before fees+0.666%+ Points / potential airdropHyperliquid: Season 2 · farm board+$67 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 0.129% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ARB-USD	0.2216	0.0100	pay 0.0013% / 1h	11m 00s	$87K	$2.1M	10x
Short	Hyperliquid ARB	0.2215	0.0100	get 0.0013% / 1h	11m 00s	$38.6M	$51.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Polymarket Perps. 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 Polymarket PerpsbpFee HyperliquidbpOrdersPrice spread, now −0.023%Rate

Funding earned: $0
Price spread: −0.023% → +0.106%: −$12.87
Slippage, 4 orders: −$9.33
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$39.21
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Hyperliquid: live order book, 12 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 Polymarket Perps live order book, 3 min ago	3.39 bp	7.4 bp −$7	10.8 bp −$108	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 12 min ago	0.45 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit

ARB on 35 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	−0.1692%	1h	0.2202	−0.632%	$40K	$372K	12x	as long as short
SoDEX ARB-USD	−0.0260%	1h	0.2215	−0.068%	$10K	$2.5M	5x	as long as short
01 Exchange ARBUSD	−0.0224%	1h	0.2215	−0.032%	$7K	$2K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0201%	1h	0.2215	−0.045%	$24K	$34K	25x	as long as short
Variational Omni ARB	−0.0157%	8h	0.2213	−0.119%	$1.9M	$2.9M	—	as long as short
OKX ARB-USDT-SWAP	−0.0126%	8h	0.2211	−0.235%	$22.4M	$155.9M	50x	as long as short
MEXC ARB_USDT	−0.0126%	8h	0.2214	−0.108%	$39.1M	$60.2M	200x	as long as short
Gate ARB_USDT	−0.0079%	8h	0.2214	−0.072%	$5.4M	$19.9M	60x	as long as short
Orderly PERP_ARB_USDC	−0.0068%	8h	0.2215	−0.045%	$12K	$384K	10x	as long as short
Bybit ARBUSDT	−0.0038%	8h	0.2212	−0.190%	$56.5M	$128.5M	50x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ARBUSDT	−0.0003%	8h	0.2213	−0.123%	$64.4M	$316.8M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2217	+0.027%	$66K	$5K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2213	−0.113%	$352K	$2.5M	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0011%	1h	0.2215	−0.058%	$10K	—	150x	as long as short
ApeX Omni ARBUSDT	+0.0064%	1h	0.2213	−0.135%	$119K	$286K	50x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2215	−0.023%	$141K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2215	−0.059%	$1.2M	$7.4M	15x	as long as short
Hyperliquid ARBshort	+0.0100%	1h	0.2215	−0.023%	$38.6M	$51.8M	10x
Aster ARBUSDT	+0.0100%	8h	0.2215	−0.059%	$659K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2215	−0.037%	$42K	$184K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2216	−0.018%	$19.6M	$15.7M	75x	as long as short
Bitget ARBUSDT	+0.0100%	8h	0.2212	−0.181%	$21.2M	$36.4M	50x	as long as short
BingX ARB-USDC	+0.0100%	8h	0.2214	−0.077%	—	$6.5M	—	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2214	−0.075%	$40K	$464K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2213	−0.136%	$481K	$3.7M	10x	as long as short
Polymarket Perps ARB-USDlong	+0.0100%	1h	0.2216	long leg	$87K	$2.1M	10x
SunX ARB-USDT	+0.0100%	8h	0.2216	0.000%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2215	−0.045%	$297K	$996K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2214	−0.090%	$5.0M	$13.0M	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0240%	1h	0.2222	+0.271%	$508K	$2.1M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2215	−0.065%	$827K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2215	−0.042%	$2K	$695	20x	as long as short
Kraken Futures PF_ARBUSD	+0.0312%	1h	0.2216	0.000%	$1.1M	$4.7M	50x	as long as short
RISEx ARB/USDC	+0.0466%	1h	0.2217	+0.040%	$481K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0534%	1h	0.2218	+0.086%	$1.0M	$2.9M	20x	as long as short