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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 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%
Price spread now: Hyperliquid against Katana Perps+0.072%7-day average +0.076% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.027%+$3 on $10k
Price spread, last 7 days−0.046%−$5 · spread now +0.072%, 7d avg +0.076%
Together, before fees−0.019%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,770.20.0100pay 0.0100% / 8h12m 00s$475K$2.8M50x
ShortHyperliquid ETH2,772.20.0100get 0.0013% / 1h12m 00s$3.17B$2.36B25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Katana Perps. 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
$0.04
Price spread: +0.072% → +0.076%
−$0.33
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$13.09
Costs to cover
0.128%
Break-even
2084.9 days
Slippage unknown: Katana Perps: no order-book sample; Hyperliquid: live order book, 12 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Katana Perps no order-book sample—————
Sell Hyperliquid live order book, 12 min ago0.18 bp4.7 bp −$54.7 bp −$475.8 bp −$5778.1 bp −$4,043
Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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−0.0223%43m2,771.4+0.043%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,770.7+0.019%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.292%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,770.5+0.011%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0022%1h2,771.4+0.044%$8.7M$33.0M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,770.9+0.025%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,772.2+0.074%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.8+0.058%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,770.8+0.022%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,770.2+0.001%$1.70B$11.88B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,770.9+0.025%$12.8M—200xas long as short
Phemex ETHUSDT+0.0029%8h2,770.2−0.001%$270.0M$68.9M150xas long as short
Aftermath Perps ETHUSD+0.0030%1h2,772+0.063%$29K$22K20xas long as short
Aster ETHUSDT+0.0032%8h2,769.8−0.015%$255.6M$1.00B200xas long as short
SoDEX ETH-USD+0.0035%1h2,769.3−0.032%$55.1M$228.9M40xas long as short
Bullet ETH-USD+0.0039%1h2,770−0.006%$182K$1.7M20xas long as short
Deribit ETH-PERPETUAL+0.0046%1h2,771+0.027%$259.0M$222.2M50xas long as short
Aevo ETH-PERP+0.0056%1h2,767.8−0.087%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0057%8h2,769.2−0.036%$1.62B$2.66B500xas long as short
Binance ETHUSDT+0.0057%8h2,769.9−0.013%$6.45B$17.30B150xas long as short
Bitget ETHUSDT+0.0065%8h2,769.9−0.011%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0068%8h2,769.5−0.026%$3.29B$9.68B200xas long as short
KuCoin ETHUSDTM+0.0081%8h2,769.7−0.017%$420.8M$739.3M100xas long as short
Bybit ETHUSDT+0.0088%8h2,770.3+0.004%$2.50B$4.62B150xas long as short
BingX ETH-USDT+0.0088%8h2,769.7−0.017%—$1.24B—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,771.1+0.032%$60.2M$4.59B50xas long as short
HTX ETH-USDT+0.0094%8h2,770.5+0.012%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,770−0.007%$115.2M$500.4M50xas long as short
Lighter RH ETH+0.0096%1h2,771.5+0.045%$25.3M$121.9M50xas long as short
Vest ETH-PERP+0.0096%1h2,771.1+0.034%—$1.1M50xas long as short
Nado ETH-PERP+0.0098%1h2,770.6+0.015%$14.3M$118.2M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,770.3+0.005%$15.9M$10.1M50xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,770.2long leg$475K$2.8M50x
Hyperliquid ETHshort+0.0100%1h2,772.2+0.072%$3.17B$2.36B25x
Pacifica ETH+0.0100%1h2,771.6+0.050%$31.2M$315.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,770.8+0.022%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,771.7+0.054%$2.7M$17.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,773+0.100%$170.1M$265.7M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,769.7−0.019%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,772.7+0.091%$147.4M$335.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,771.6+0.050%$182.0M$785.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,771.1+0.034%$161.1M$90.0M50xas long as short
StandX ETH-USD+0.0100%1h2,771.4+0.043%$21.4M$58.5M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,770.9+0.025%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,770.7+0.016%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,771+0.028%$972K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,772+0.065%$42.7M$29.4M15xas long as short
Extended ETH-USD+0.0104%1h2,769−0.043%$32.5M$78.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,770.5+0.011%—$43.7M500xas long as short
Kalshi KXETHPERP+0.0108%8h2,771+0.029%$8.1M$687.2M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,770.7+0.019%$90.3M$338.3M100xas long as short
Orderly PERP_ETH_USDC+0.0143%8h2,772.2+0.073%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0178%8h2,770−0.007%$286.1M$194.7M150xas long as short
Reya ETHRUSDPERP+0.0204%1h2,770.3+0.004%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,772.1+0.068%$252K$1.6M20xas long as short