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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 23:00 UTC+0.0094%/8h= +10.3% APRnext payment +$0.12 per $10,000 · paid last 24h +0.045%
Price spread now: Hyperliquid against gTrade (Gains Network)+0.064%7-day average +0.059% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$190.190% of the position
Long on gTrade (Gains Network)Short on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.104%+$10 on $10k
Price spread, last 3 days (all we have)−0.079%−$8 · spread now +0.064%, 7d avg +0.059%
Together, before fees+0.025%+ 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 +0.059%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LonggTrade (Gains Network) ETH/USD2,773.3L +0.0006% / S −0.0006%pay 0.0001% / 1h56m 18s$22.4M—200x
ShortHyperliquid ETH2,775.10.0100get 0.0013% / 1h56m 18s$3.19B$2.40B25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against gTrade (Gains Network). 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
$19.7
Price spread: +0.064% → +0.059%
$0.54
Slippage, 4 orders
−$2.96
Fee gTrade (Gains Network): 3.5 bp × 2 orders
−$7
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$1.28
Costs to cover
0.190%
Break-even
6.5 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 3 min ago; Hyperliquid: live order book, 8 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 gTrade (Gains Network) virtual book (oracle venue), 3 min ago0.54 bp4.0 bp −$44.1 bp −$415.0 bp −$5008.9 bp −$4,453
Sell Hyperliquid live order book, 8 min ago0.18 bp4.7 bp −$54.7 bp −$474.7 bp −$4685.4 bp −$2,688

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%43m2,773.1−0.008%$290K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,773−0.011%$5.8M$12.1M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,774.5+0.043%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0048%1h2,772.8−0.019%$169K$1.2M50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,768.7−0.167%$119K$22.5M52xas long as short
Phoenix ETH−0.0023%1h2,770.5−0.102%$884K$3.6M25xas long as short
Aftermath Perps ETHUSD−0.0001%1h2,771.4−0.068%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,775.8+0.090%$12.7M$45.5M50xas long as short
Nado ETH-PERP+0.0002%1h2,773.30.000%$14.3M$118.9M50xas long as short
gTrade (Gains Network) ETH/USDlongL +0.0006% / S −0.0006%1h2,773.3long leg$22.4M—200x
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi ETH/USDT-P+0.0016%1h2,771.8−0.056%$280K$1.5M20xas long as short
BingX ETH-USDT+0.0018%8h2,772.7−0.024%—$1.19B—as long as short
OKX ETH-USDT-SWAP+0.0023%8h2,772.8−0.018%$1.71B$11.88B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,773.3−0.002%$13.2M—200xas long as short
Aster ETHUSDT+0.0031%8h2,772.8−0.019%$256.4M$993.8M200xas long as short
ApeX Omni ETHUSDT+0.0034%1h2,770.6−0.098%$8.7M$32.6M100xas long as short
Phemex ETHUSDT+0.0036%8h2,771−0.084%$266.9M$65.9M150xas long as short
Bullet ETH-USD+0.0036%1h2,772.6−0.026%$183K$1.8M20xas long as short
Aevo ETH-PERP+0.0048%1h2,770.8−0.092%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0052%8h2,772.7−0.023%$1.59B$2.62B500xas long as short
Binance ETHUSDT+0.0052%8h2,772.9−0.016%$6.43B$17.20B150xas long as short
Bitget ETHUSDT+0.0074%8h2,772.8−0.017%$2.10B$3.12B150xas long as short
Gate ETH_USDT+0.0079%8h2,772.6−0.026%$3.28B$9.53B200xas long as short
SoDEX ETH-USD+0.0087%1h2,770.4−0.105%$55.2M$228.6M40xas long as short
HTX ETH-USDT+0.0096%8h2,770.6−0.099%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,775+0.060%$115.1M$494.4M50xas long as short
Lighter RH ETH+0.0096%1h2,776.5+0.113%$25.4M$120.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,773.7+0.014%—$41.8M500xas long as short
Variational Omni ETH+0.0099%8h2,770.9−0.088%$140.8M$321.1M—as long as short
Paradex ETH-USD-PERP+0.0100%8h2,774.1+0.027%$15.9M$10.7M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,773.2−0.004%$480K$2.8M50xas long as short
Hyperliquid ETHshort+0.0100%1h2,775.1+0.064%$3.19B$2.40B25x
Pacifica ETH+0.0100%1h2,774.8+0.054%$31.3M$293.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,773.1−0.009%$2.51B$4.63B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,774.1+0.028%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,775.6+0.081%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,771−0.085%$164.2M$249.6M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,772.5−0.030%$422.4M$740.5M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,773.6+0.009%$15.2M$43.8M50xas long as short
edgeX ETHUSDC+0.0100%4h2,768.2−0.186%$179.4M$778.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,771.5−0.066%$161.2M$96.5M50xas long as short
StandX ETH-USD+0.0100%1h2,769.7−0.131%$21.4M$57.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,772.9−0.016%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,774+0.025%$10.8M$7.7M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,773.8+0.016%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,775.1+0.065%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,767.5−0.209%$971K$14.1M100xas long as short
Extended ETH-USD+0.0104%1h2,773.8+0.016%$31.5M$75.3M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,772−0.049%$59.9M$4.61B50xas long as short
Deribit ETH-PERPETUAL+0.0107%1h2,772.3−0.038%$258.4M$225.1M50xas long as short
Kalshi KXETHPERP+0.0109%8h2,770.8−0.091%$8.6M$673.1M4.9xas long as short
Orderly PERP_ETH_USDC+0.0137%8h2,775.7+0.086%$32.6M$12.1M100xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,772−0.048%$86.1M$331.6M100xas long as short
BloFin ETH-USDT+0.0172%8h2,770.6−0.097%$285.9M$194.9M150xas long as short
Reya ETHRUSDPERP+0.0187%1h2,772.4−0.033%$7.3M$1.1M25xas long as short