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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 02:22 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.066%
Price spread now: Hyperliquid against Perpl+0.015%7-day average +0.021% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PerplShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days−0.027%−$3 on $10k
Price spread, last 7 days−0.002%$0 · spread now +0.015%, 7d avg +0.021%
Together, before fees−0.029%+ Points / potential airdropPerpl: Active · Hyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.021%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPerpl ETH2,739.70get 0.0000% / 43m29m 23s$301K$5.5M8.3x
ShortHyperliquid ETH2,740.10.0100get 0.0013% / 1h58m 23s$3.11B$2.06B25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Perpl. 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
$21
Price spread: +0.015% → +0.021%
−$0.63
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$2.43
Costs to cover
0.228%
Break-even
7.8 days
Slippage unknown: Perpl: no order-book sample; Hyperliquid: live order book, 6 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 Perpl no order-book sample—————
Sell Hyperliquid live order book, 6 min ago0.18 bp4.7 bp −$54.9 bp −$496.3 bp −$6288.1 bp −$4,051
Perpl: 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
Injective ETH/USDC PERP−0.0141%1h2,738.7−0.037%$118K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,740.6+0.033%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,738−0.061%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,740.1+0.014%$10.8M$41.7M50xas long as short
Perpl ETHlong0.0000%43m2,739.7long leg$301K$5.5M8.3x
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,738−0.061%$25.3M—200xas long as short
01 Exchange ETHUSD+0.0008%1h2,738.8−0.033%$182K$834K50xas long as short
Phoenix ETH+0.0017%1h2,741.1+0.051%$847K$2.9M25xas long as short
ApeX Omni ETHUSDT+0.0039%1h2,740.1+0.013%$8.8M$30.7M100xas long as short
Backpack ETH_USDC_PERP+0.0050%1h2,739−0.027%$15.0M$39.5M50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0054%8h2,737.3−0.089%—$1.14B—as long as short
OKX ETH-USDT-SWAP+0.0069%8h2,737.9−0.066%$1.70B$10.56B100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,737.7−0.072%$380.9M$573.3M100xas long as short
Lighter ETH+0.0072%1h2,740.6+0.033%$112.5M$429.4M50xas long as short
Aster ETHUSDT+0.0082%8h2,738.9−0.029%$253.4M$840.5M200xas long as short
Bullet ETH-USD+0.0084%1h2,737.8−0.071%$181K$1.7M20xas long as short
Aevo ETH-PERP+0.0088%1h2,737.7−0.074%$4.9M$154K20xas long as short
MEXC ETH_USDT+0.0090%8h2,737.8−0.068%$1.56B$2.51B500xas long as short
Binance ETHUSDT+0.0090%8h2,738.6−0.038%$6.36B$15.69B150xas long as short
Lighter RH ETH+0.0096%1h2,741.9+0.082%$24.6M$102.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,740.7+0.037%—$30.4M500xas long as short
RISEx ETH/USDC+0.0099%1h2,739.4−0.012%$5.6M$11.4M25xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,743.8+0.151%$15.9M$8.0M50xas long as short
HTX ETH-USDT+0.0100%8h2,739.4−0.012%$1.06B$1.18B200xas long as short
Katana Perps ETH-USD+0.0100%8h2,738.9−0.029%$493K$3.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,738.2−0.055%$13.9M$104.6M50xas long as short
Hyperliquid ETHshort+0.0100%1h2,740.1+0.015%$3.11B$2.06B25x
Pacifica ETH+0.0100%1h2,740.5+0.028%$31.7M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,737.8−0.068%$2.43B$4.18B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,740.3+0.022%$2.7M$16.9M25xas long as short
Arcus ETH-USD+0.0100%1h2,739.6−0.005%$2.8M$16.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,739.7+0.001%$165.8M$302.8M25xas long as short
Gate ETH_USDT+0.0100%8h2,740+0.012%$3.39B$8.65B200xas long as short
Bitget ETHUSDT+0.0100%8h2,738−0.062%$2.08B$2.72B150xas long as short
Variational Omni ETH+0.0100%8h2,739−0.027%$133.0M$324.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,738.7−0.035%$182.0M$667.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,739.9+0.007%$159.3M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,739.3−0.015%$21.2M$69.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,739.5−0.007%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,739.3−0.015%$10.9M$8.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,739.9+0.006%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,741.1+0.050%$41.4M$29.7M15xas long as short
SunX ETH-USDT+0.0100%8h2,738.9−0.029%$960K$11.4M100xas long as short
SoDEX ETH-USD+0.0100%1h2,739.2−0.018%$54.6M$187.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,739.8+0.004%$266.2M$65.1M150xas long as short
Extended ETH-USD+0.0104%1h2,738.6−0.040%$30.7M$71.9M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,741.3+0.058%$54.2M$4.25B50xas long as short
Aftermath Perps ETHUSD+0.0137%1h2,740.7+0.036%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0158%8h2,740+0.011%$7.8M$672.4M4.9xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,741.5+0.066%$32.3M$11.4M100xas long as short
Deribit ETH-PERPETUAL+0.0199%1h2,741.3+0.058%$260.0M$194.8M50xas long as short
BloFin ETH-USDT+0.0210%8h2,739.4−0.011%$285.5M$177.8M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,740.8+0.040%$86.1M$309.6M100xas long as short
Reya ETHRUSDPERP+0.0225%1h2,737.1−0.096%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,739.1−0.021%$251K$1.4M20xas long as short