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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 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.031%
Price spread now: Hyperliquid against Bitget+0.064%7-day average +0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$210.214% of the position
Long on BitgetShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.080%+$8 on $10k
Price spread, last 7 days−0.059%−$6 · spread now +0.064%, 7d avg +0.040%
Together, before fees+0.021%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 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 0.024% dearer against Bitget than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.040%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget ETHUSDT2,740.40.0100pay 0.0100% / 8h4h 58m$2.08B$2.72B150x
ShortHyperliquid ETH2,742.20.0100get 0.0013% / 1h58m 45s$3.11B$2.06B25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$0
Price spread: +0.064% → +0.040%
$2.42
Slippage, 4 orders
−$0.4
Fee Bitget: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$18.98
Costs to cover
0.214%
Break-even
never at this rate
Slippage from Bitget: live order book, 5 min ago; Hyperliquid: live order book, 5 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 Bitget live order book, 5 min ago0.02 bp6.0 bp −$66.6 bp −$668.3 bp −$831doesn't fit
Sell Hyperliquid live order book, 5 min ago0.18 bp4.7 bp −$54.9 bp −$496.3 bp −$6288.1 bp −$4,051

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
Injective ETH/USDC PERP−0.0141%1h2,738.7−0.063%$118K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,739.9−0.020%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,738.7−0.062%$12.0M—200xas long as short
Perpl ETH0.0000%43m2,738.3−0.077%$303K$5.5M8.3xas long as short
dYdX ETH-USD0.0000%1h2,740.5+0.001%$10.8M$41.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,738.9−0.058%$25.3M—200xas long as short
Phoenix ETH+0.0017%1h2,741.1+0.024%$847K$2.9M25xas long as short
01 Exchange ETHUSD+0.0024%1h2,738.7−0.063%$182K$835K50xas long as short
ApeX Omni ETHUSDT+0.0039%1h2,740.1−0.014%$8.8M$30.7M100xas long as short
Backpack ETH_USDC_PERP+0.0050%1h2,739−0.054%$15.0M$39.5M50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0054%8h2,739.5−0.034%—$18.5M—as long as short
OKX ETH-USDT-SWAP+0.0069%8h2,740.2−0.011%$1.70B$10.57B100xas long as short
KuCoin ETHUSDTM+0.0070%8h2,740.4−0.001%$381.0M$573.3M100xas long as short
Bullet ETH-USD+0.0072%1h2,738.2−0.082%$181K$1.7M20xas long as short
Lighter ETH+0.0072%1h2,740.6+0.006%$112.5M$429.4M50xas long as short
Aster ETHUSDT+0.0082%8h2,740.2−0.009%$253.5M$840.5M200xas long as short
Aevo ETH-PERP+0.0088%1h2,737.7−0.101%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0089%8h2,740.2−0.009%$1.57B$2.51B500xas long as short
Binance ETHUSDT+0.0090%8h2,740−0.016%$6.37B$15.69B150xas long as short
Lighter RH ETH+0.0096%1h2,741.3+0.031%$24.6M$102.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,739.3−0.043%—$30.4M500xas long as short
RISEx ETH/USDC+0.0099%1h2,739.5−0.036%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,743.4+0.106%$15.9M$8.0M50xas long as short
HTX ETH-USDT+0.0100%8h2,739.4−0.039%$1.06B$1.18B200xas long as short
Katana Perps ETH-USD+0.0100%8h2,738−0.089%$475K$3.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,738.3−0.079%$13.9M$104.6M50xas long as short
Hyperliquid ETHshort+0.0100%1h2,742.2+0.064%$3.11B$2.06B25x
Pacifica ETH+0.0100%1h2,740−0.015%$31.7M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,740−0.017%$2.43B$4.18B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,738.3−0.078%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,739.4−0.036%$2.8M$16.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,739.7−0.026%$165.8M$302.8M25xas long as short
Gate ETH_USDT+0.0100%8h2,740.4−0.002%$3.39B$8.65B200xas long as short
Bitget ETHUSDTlong+0.0100%8h2,740.4long leg$2.08B$2.72B150x
Variational Omni ETH+0.0100%8h2,739−0.054%$133.0M$324.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,738.7−0.062%$182.0M$667.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,739.9−0.020%$159.3M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,739.7−0.027%$21.2M$69.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,739.6−0.030%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,739.5−0.034%$10.9M$8.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,739.9−0.021%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,741.1+0.023%$41.4M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,738.9−0.056%$960K$11.4M100xas long as short
SoDEX ETH-USD+0.0100%1h2,739.2−0.045%$54.6M$187.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,739.8−0.023%$266.2M$65.1M150xas long as short
Extended ETH-USD+0.0104%1h2,739.2−0.046%$30.7M$71.9M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,741.3+0.031%$54.2M$4.25B50xas long as short
Aftermath Perps ETHUSD+0.0137%1h2,740.8+0.013%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0158%8h2,740−0.016%$7.8M$672.4M4.9xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,741.5+0.039%$32.3M$11.4M100xas long as short
Deribit ETH-PERPETUAL+0.0199%1h2,741.3+0.031%$260.0M$194.8M50xas long as short
BloFin ETH-USDT+0.0210%8h2,739.4−0.038%$285.5M$177.8M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,740.8+0.013%$86.1M$309.6M100xas long as short
Reya ETHRUSDPERP+0.0225%1h2,737.7−0.101%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,741.3+0.032%$252K$1.4M20xas long as short