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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 00:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.023%
Price spread now: Hyperliquid against KuCoin+0.068%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$230.228% of the position
Long on KuCoinShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.112%+$11 on $10k
Price spread, last 7 days−0.048%−$5 · spread now +0.068%, 7d avg +0.037%
Together, before fees+0.064%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.031% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.037%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin ETHUSDTM2,769.30.0080pay 0.0080% / 8h11m 14s$420.7M$738.5M100x
ShortHyperliquid ETH2,771.20.0100get 0.0013% / 1h11m 14s$3.17B$2.36B25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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
$4.2
Price spread: +0.068% → +0.037%
$3.08
Slippage, 4 orders
−$1.84
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$15.56
Costs to cover
0.228%
Break-even
32.9 days
Slippage from KuCoin: live order book, 3 min ago; Hyperliquid: live order book, 13 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 KuCoin live order book, 3 min ago0.02 bp6.5 bp −$67.5 bp −$759.1 bp −$907doesn't fit
Sell Hyperliquid live order book, 13 min ago0.18 bp4.7 bp −$54.7 bp −$475.8 bp −$5778.1 bp −$4,043

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%43m2,770+0.024%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,769.1−0.010%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.261%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,769.5+0.006%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0023%1h2,770.5+0.042%$8.7M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,769.3−0.001%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,770.8+0.054%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.8+0.089%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,769.5+0.007%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,768.4−0.035%$1.70B$11.87B100xas 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%1h2,769.6+0.008%$12.8M—200xas long as short
Phemex ETHUSDT+0.0029%8h2,768.5−0.030%$269.9M$68.9M150xas long as short
Aftermath Perps ETHUSD+0.0030%1h2,771.6+0.083%$29K$22K20xas long as short
SoDEX ETH-USD+0.0031%1h2,768.4−0.034%$55.1M$228.9M40xas long as short
Aster ETHUSDT+0.0032%8h2,768.9−0.016%$255.6M$1.00B200xas long as short
Bullet ETH-USD+0.0038%1h2,768.9−0.016%$181K$1.7M20xas long as short
Deribit ETH-PERPETUAL+0.0053%1h2,770.2+0.031%$259.0M$222.1M50xas long as short
Aevo ETH-PERP+0.0056%1h2,766.9−0.088%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0056%8h2,768.4−0.034%$6.45B$17.29B150xas long as short
MEXC ETH_USDT+0.0057%8h2,768.4−0.034%$1.62B$2.66B500xas long as short
Bitget ETHUSDT+0.0065%8h2,768.6−0.028%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0067%8h2,768.5−0.029%$3.29B$9.69B200xas long as short
KuCoin ETHUSDTMlong+0.0080%8h2,769.3long leg$420.7M$738.5M100x
Bybit ETHUSDT+0.0088%8h2,768.6−0.025%$2.50B$4.62B150xas long as short
BingX ETH-USDC+0.0088%8h2,768.1−0.043%—$17.4M—as long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,769.9+0.019%$60.1M$4.59B50xas long as short
HTX ETH-USDT+0.0094%8h2,768.6−0.026%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,768.9−0.014%$115.0M$500.6M50xas long as short
Lighter RH ETH+0.0096%1h2,770.6+0.045%$25.3M$122.0M50xas long as short
Vest ETH-PERP+0.0096%1h2,769.7+0.012%—$1.1M50xas long as short
Nado ETH-PERP+0.0099%1h2,768.9−0.017%$14.3M$118.2M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,768.5−0.029%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,768.6−0.026%$475K$2.8M50xas long as short
Hyperliquid ETHshort+0.0100%1h2,771.2+0.068%$3.17B$2.36B25x
Pacifica ETH+0.0100%1h2,769.5+0.006%$31.2M$315.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,768.8−0.019%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,769.9+0.021%$2.7M$17.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,773+0.131%$170.1M$265.7M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,768.7−0.021%$15.1M$44.2M50xas long as short
Variational Omni ETH+0.0100%8h2,768.4−0.032%$147.1M$335.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,770+0.024%$181.8M$783.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,770.4+0.038%$161.1M$89.8M50xas long as short
StandX ETH-USD+0.0100%1h2,771.4+0.075%$21.4M$58.5M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.1−0.008%$10.6M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.9+0.020%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,768.1−0.045%$971K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,771.2+0.068%$42.7M$29.4M15xas long as short
Extended ETH-USD+0.0104%1h2,768−0.049%$32.5M$78.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.1+0.064%—$43.7M500xas long as short
Kalshi KXETHPERP+0.0107%8h2,770.1+0.028%$8.2M$687.5M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,770+0.024%$90.3M$338.3M100xas long as short
Orderly PERP_ETH_USDC+0.0143%8h2,771.3+0.071%$32.6M$12.2M100xas long as short
BloFin ETH-USDT+0.0176%8h2,768.4−0.033%$286.2M$194.2M150xas long as short
Reya ETHRUSDPERP+0.0204%1h2,768.7−0.023%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,771.6+0.083%$252K$1.6M20xas long as short