Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.2106 | +0.0100 | pay 0.0013% / 1h | 29m 15s | $102.6M | $44.2M | 10x | Long Hyperliquid4% off | |
| SHORT | 0.2107 | +0.0100 | get 0.0013% / 1h | 29m 15s | $735K | $1.8M | 50x | Short TxFlow5% off |
Price gap+0.043%
Funding gap0.0000% /8h
Funding is ≈ 0, so this is a price-spread trade: +$18 on $10k if the gap goes back to its 7d average.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$90.0000% /8h now · paid −0.090% over the last 7D
Price+$18spread +0.043% now, avg −0.141% → +0.184% if it goes back
Costs−$280.278% of $10k · taker + slippage, in and out
Result−$18−0.18%+ Points / potential airdropHyperliquid: Season 2 · TxFlow: points · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now+0.043%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hENA on 45 exchanges
lowest funding firstBefore you open
5 ok · 1 to watch- OK: Fits both order books6.7 / 8.2 bpEntry at $10k a leg, taker fee + slippage. Closing costs about the same.
- Note: Margin at max leverage$1,000 + $200Hyperliquid 10x, TxFlow 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: $0.00Long Hyperliquid: 24 payments, −$3.00; short TxFlow: 24 payments, +$3.00.
- OK: Entry gap works for you+0.043% vs −0.141%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$735K vs $102.6M OITxFlow sets your exit cost. Check its book before closing.
- OK: Points on a legHyperliquid Season 2 · TxFlow pointsVolume here counts toward the points program.
- OK: No KYC on either legHyperliquid No · TxFlow NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0043%/8h × 21 periods−$8.99
Price spread+0.043% → −0.141% (7d avg)+$18.39
Slippage, 4 orderslive order books−$9.85
Fee Hyperliquid bp × 2 orders−$9.00
Fee TxFlow bp × 2 orders−$9.00
Net · 7 days · $10k−$18.46
Costs to cover0.278%Break-evennever at this rate
Slippage: Hyperliquid: live order book, 3 min ago; TxFlow: live order book, 8 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGHyperliquid0.946.7 bp−$712.0 bp−$12038.3 bp−$3,831123.0 bp−$61.5K
SELL · SHORTTxFlow1.418.2 bp−$814.2 bp−$14261.4 bp−$6,144doesn’t fit
Closing costs about the same again.
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