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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 05:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h +0.031%
Price spread now: Hyperliquid against ApeX Omni+0.073%7-day average +0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$4as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$210.209% of the position
Long on ApeX OmniShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.173%+$17 on $10k
Price spread, last 7 days−0.051%−$5 · spread now +0.073%, 7d avg +0.035%
Together, before fees+0.123%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.038% dearer against ApeX Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.035%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni ETHUSDT2,737.40.0044pay 0.0006% / 1h34m 40s$8.7M$31.2M100x
ShortHyperliquid ETH2,739.40.0100get 0.0013% / 1h34m 40s$3.11B$2.04B25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against ApeX Omni. 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

Funding earned
$11.71
Price spread: +0.073% → +0.035%
$3.8
Slippage, 4 orders
−$1.94
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$5.43
Costs to cover
0.209%
Break-even
10.2 days
Slippage from ApeX Omni: live order book, 5 min ago; Hyperliquid: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 5 min ago0.79 bp5.8 bp −$66.7 bp −$6722.7 bp −$2,27149.0 bp −$24.5K
Sell Hyperliquid live order book, 10 min ago0.18 bp4.7 bp −$54.7 bp −$475.5 bp −$5477.2 bp −$3,599

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETH−0.0447%43m2,735.8−0.057%$297K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,737−0.015%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,737.3−0.002%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,738.9+0.055%$823K$2.9M25xas long as short
HTX ETH-USDT+0.0003%8h2,736.2−0.043%$1.06B$1.20B200xas long as short
dYdX ETH-USD+0.0005%1h2,737.1−0.011%$10.8M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,737.40.000%$28.1M—200xas long as short
Bullet ETH-USD+0.0028%1h2,737.1−0.011%$180K$1.7M20xas long as short
BingX ETH-USDC+0.0032%8h2,735.7−0.061%—$18.5M—as long as short
Bybit ETHUSDT+0.0042%8h2,736.6−0.030%$2.38B$4.37B150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni ETHUSDTlong+0.0044%1h2,737.4long leg$8.7M$31.2M100x
01 Exchange ETHUSD+0.0056%1h2,737.8+0.015%$187K$817K50xas long as short
KuCoin ETHUSDTM+0.0067%8h2,736.9−0.020%$381.7M$573.8M100xas long as short
OKX ETH-USDT-SWAP+0.0076%8h2,736.9−0.018%$1.67B$10.74B100xas long as short
Phemex ETHUSDT+0.0083%8h2,736.4−0.037%$265.3M$65.1M150xas long as short
Deribit ETH-PERPETUAL+0.0083%1h2,737.6+0.008%$259.5M$200.1M50xas long as short
Aster ETHUSDT+0.0084%8h2,737.1−0.011%$251.4M$842.3M200xas long as short
SunX ETH-USDT+0.0087%8h2,735.8−0.059%$959K$11.2M100xas long as short
MEXC ETH_USDT+0.0093%8h2,736.7−0.026%$1.56B$2.56B500xas long as short
Binance ETHUSDT+0.0093%8h2,736.8−0.021%$6.36B$15.89B150xas long as short
Lighter ETH+0.0096%1h2,737.7+0.010%$112.9M$432.1M50xas long as short
Lighter RH ETH+0.0096%1h2,738.4+0.037%$23.4M$104.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,736−0.052%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,734.8−0.097%$4.9M$155K20xas long as short
Injective ETH/USDC PERP+0.0096%1h2,737.8+0.015%$117K$22.5M52xas long as short
SoDEX ETH-USD+0.0099%1h2,736.3−0.040%$54.5M$187.7M40xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,740.4+0.109%$15.6M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,736.3−0.040%$506K$3.3M50xas long as short
Nado ETH-PERP+0.0100%1h2,736.4−0.035%$13.7M$104.5M50xas long as short
Hyperliquid ETHshort+0.0100%1h2,739.4+0.073%$3.11B$2.04B25x
Pacifica ETH+0.0100%1h2,737.8+0.015%$32.1M$333.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,736.2−0.044%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,737.3−0.003%$1.5M$15.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,737−0.015%$3.34B$8.88B200xas long as short
Bitget ETHUSDT+0.0100%8h2,736.8−0.022%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,736.4−0.038%$15.2M$40.6M50xas long as short
Variational Omni ETH+0.0100%8h2,735.4−0.074%$133.6M$322.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,737.2−0.008%$184.1M$670.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,735.9−0.054%$159.2M$87.0M50xas long as short
StandX ETH-USD+0.0100%1h2,737.3−0.004%$21.1M$69.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,738.1+0.026%—$844K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,738.9+0.055%$11.2M$9.2M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,737.2−0.008%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,738.7+0.049%$41.3M$29.9M15xas long as short
Bulk ETH-USD+0.0100%1h2,739.4+0.072%$170.6M$337.3M25xas long as short
Extended ETH-USD+0.0104%1h2,735.8−0.057%$30.6M$73.0M50xas long as short
RISEx ETH/USDC+0.0107%1h2,737.2−0.007%$5.6M$11.7M25xas long as short
Aftermath Perps ETHUSD+0.0112%1h2,737.7+0.010%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,737.4+0.001%$51.1M$4.28B50xas long as short
Kalshi KXETHPERP+0.0139%8h2,737.2−0.007%$6.5M$682.8M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0153%1h2,737.1−0.010%$83.4M$315.1M100xas long as short
Orderly PERP_ETH_USDC+0.0200%8h2,739.1+0.061%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0212%1h2,736.7−0.024%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0264%1h2,737.3−0.005%$245K$1.4M20xas long as short
BloFin ETH-USDT+0.0375%8h2,736.7−0.027%$283.5M$175.3M150xas long as short