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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.026%
Price spread now: Hyperliquid against BingX+0.093%7-day average +0.081% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$200.197% of the position
Long on BingXShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.092%+$9 on $10k
Price spread, last 7 days−0.064%−$6 · spread now +0.093%, 7d avg +0.081%
Together, before fees+0.028%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.081%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX ETH-USDC2,738.70.0044pay 0.0044% / 8h5h 47m—$18.4M—
ShortHyperliquid ETH2,741.30.0100get 0.0013% / 1h47m 26s$3.12B$2.05B25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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
$11.76
Price spread: +0.093% → +0.081%
$1.24
Slippage, 4 orders
−$0.73
Fee BingX: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$6.72
Costs to cover
0.197%
Break-even
11.0 days
Slippage from BingX: live order book, 6 min ago; Hyperliquid: live order book, 7 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 BingX live order book, 6 min ago0.18 bp5.2 bp −$56.1 bp −$617.2 bp −$72010.3 bp −$5,163
Sell Hyperliquid live order book, 7 min ago0.18 bp4.7 bp −$54.7 bp −$475.0 bp −$4976.7 bp −$3,326

ETH on 54 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−0.0112%43m2,738.9+0.007%$305K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,739.8+0.039%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,744.7+0.218%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,740.7+0.071%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,741.4+0.098%$10.8M$41.8M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,739.6+0.031%$22.1M—200xas long as short
Phoenix ETH+0.0017%1h2,741.9+0.115%$845K$2.9M25xas long as short
BingX ETH-USDClong+0.0044%8h2,738.7long leg—$18.4M—
01 Exchange ETHUSD+0.0048%1h2,739.4+0.024%$182K$916K50xas long as short
OKX ETH-USDT-SWAP+0.0059%8h2,738.8+0.003%$1.70B$10.55B100xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin ETHUSDTM+0.0064%8h2,738.3−0.015%$377.7M$600.0M100xas long as short
Aster ETHUSDT+0.0077%8h2,739.6+0.033%$251.7M$840.6M200xas long as short
RISEx ETH/USDC+0.0077%1h2,739+0.010%$5.7M$11.2M25xas long as short
Aevo ETH-PERP+0.0080%1h2,738.8+0.001%$4.9M$159K20xas long as short
MEXC ETH_USDT+0.0086%8h2,739.2+0.017%$1.57B$2.52B500xas long as short
Binance ETHUSDT+0.0087%8h2,738.8+0.003%$6.37B$15.69B150xas long as short
Lighter ETH+0.0096%1h2,740.6+0.068%$112.6M$431.1M50xas long as short
Lighter RH ETH+0.0096%1h2,740.9+0.077%$24.6M$103.4M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,741+0.082%—$30.9M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,741.9+0.114%$58.6M$4.27B50xas long as short
HTX ETH-USDT+0.0096%8h2,740.9+0.079%$1.06B$1.18B200xas long as short
Bullet ETH-USD+0.0099%1h2,739.1+0.013%$182K$1.7M20xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,743.8+0.184%$16.1M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,738.8+0.002%$474K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,738.6−0.004%$13.9M$106.0M50xas long as short
Hyperliquid ETHshort+0.0100%1h2,741.3+0.093%$3.12B$2.05B25x
Pacifica ETH+0.0100%1h2,740.6+0.067%$31.6M$334.0M50xas long as short
Bybit ETHUSDT+0.0100%8h2,738.7−0.003%$2.45B$4.18B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,738.4−0.012%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,740+0.046%$2.7M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,743.3+0.167%$163.1M$304.4M25xas long as short
Gate ETH_USDT+0.0100%8h2,739.5+0.029%$3.39B$8.66B200xas long as short
Bitget ETHUSDT+0.0100%8h2,739+0.008%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,739.9+0.041%$14.9M$40.9M50xas long as short
Variational Omni ETH+0.0100%8h2,746.9+0.300%$132.9M$338.5M—as long as short
edgeX ETHUSDC+0.0100%4h2,741.1+0.088%$181.5M$691.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,747.6+0.324%$159.8M$81.4M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,740.9+0.080%$8.7M$31.1M100xas long as short
StandX ETH-USD+0.0100%1h2,741.3+0.093%$21.2M$69.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,740.5+0.063%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,739.6+0.031%$10.7M$8.4M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,740.8+0.076%$21K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,742.2+0.126%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,740.1+0.050%$961K$11.6M100xas long as short
SoDEX ETH-USD+0.0100%1h2,740.6+0.068%$54.6M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,741.3+0.092%$266.8M$65.1M150xas long as short
Extended ETH-USD+0.0104%1h2,738.7−0.002%$30.6M$72.5M50xas long as short
Aftermath Perps ETHUSD+0.0125%1h2,743.8+0.185%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0148%1h2,742.1+0.121%$258.8M$195.4M50xas long as short
Kalshi KXETHPERP+0.0151%8h2,741.5+0.101%$7.7M$668.6M4.9xas long as short
Orderly PERP_ETH_USDC+0.0186%8h2,742.7+0.145%$32.2M$11.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,741.6+0.106%$87.5M$309.3M100xas long as short
Reya ETHRUSDPERP+0.0225%1h2,738.6−0.005%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0240%1h2,742.4+0.133%$249K$1.4M20xas long as short