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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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.016%
Price spread now: Hyperliquid against Polymarket Perps+0.018%7-day average +0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$180.180% of the position
Long on Polymarket PerpsShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.005%$0 on $10k
Price spread, last 7 days−0.003%$0 · spread now +0.018%, 7d avg +0.027%
Together, before fees+0.001%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps ETH-USD2,734.10.0100pay 0.0013% / 1h6m 14s$11.2M$9.3M50x
ShortHyperliquid ETH2,734.60.0100get 0.0013% / 1h6m 14s$3.10B$2.05B25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Polymarket 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
Price spread: +0.018% → +0.027%
−$0.92
Slippage, 4 orders
−$0.98
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$18.9
Costs to cover
0.180%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 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 Polymarket Perps live order book, 3 min ago0.18 bp4.2 bp −$45.1 bp −$5111.4 bp −$1,143doesn't fit
Sell Hyperliquid live order book, 8 min ago0.18 bp4.7 bp −$54.7 bp −$476.8 bp −$6768.7 bp −$4,362

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%43m2,732.7−0.052%$297K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,734.2+0.004%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,732.7−0.051%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,732.8−0.048%$11.9M—200xas long as short
01 Exchange ETHUSD0.0000%1h2,732.8−0.048%$187K$822K50xas long as short
Phoenix ETH0.0000%1h2,735.7+0.059%$828K$2.9M25xas long as short
dYdX ETH-USD0.0000%1h2,733−0.040%$10.7M$41.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,733−0.039%$28.1M—200xas long as short
Bullet ETH-USD+0.0014%1h2,732.5−0.057%$179K$1.7M20xas long as short
HTX ETH-USDT+0.0022%8h2,731.5−0.094%$1.06B$1.20B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0044%8h2,732.7−0.050%—$1.15B—as long as short
Bybit ETHUSDT+0.0055%8h2,732.5−0.060%$2.38B$4.35B150xas long as short
ApeX Omni ETHUSDT+0.0055%1h2,734.1−0.002%$8.7M$31.3M100xas long as short
KuCoin ETHUSDTM+0.0066%8h2,732.1−0.072%$380.1M$573.5M100xas long as short
OKX ETH-USDT-SWAP+0.0074%8h2,732.7−0.052%$1.67B$10.71B100xas long as short
Phemex ETHUSDT+0.0081%8h2,732.7−0.051%$265.5M$65.2M150xas long as short
Aster ETHUSDT+0.0085%8h2,732.7−0.051%$250.9M$841.9M200xas long as short
MEXC ETH_USDT+0.0094%8h2,732.8−0.048%$1.55B$2.57B500xas long as short
Binance ETHUSDT+0.0094%8h2,732.7−0.050%$6.35B$15.87B150xas long as short
Lighter ETH+0.0096%1h2,733.1−0.036%$112.7M$441.7M50xas long as short
Lighter RH ETH+0.0096%1h2,734.3+0.006%$23.5M$106.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,733.4−0.025%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,730.2−0.141%$4.9M$155K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,736.1+0.072%$15.5M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,732.8−0.048%$5.6M$11.6M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,732.2−0.069%$498K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,732.2−0.070%$13.6M$104.3M50xas long as short
Hyperliquid ETHshort+0.0100%1h2,734.6+0.018%$3.10B$2.05B25x
Pacifica ETH+0.0100%1h2,733.2−0.033%$32.0M$335.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.3−0.066%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,732.8−0.046%$1.6M$16.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,732.7−0.051%$3.34B$8.93B200xas long as short
Bitget ETHUSDT+0.0100%8h2,732.9−0.044%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,732.4−0.062%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,733.2−0.032%$133.8M$324.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,733.8−0.012%$183.9M$670.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,733.4−0.027%$159.0M$86.4M50xas long as short
StandX ETH-USD+0.0100%1h2,733.6−0.018%$21.1M$68.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,733.5−0.022%—$843K50xas long as short
Polymarket Perps ETH-USDlong+0.0100%1h2,734.1long leg$11.2M$9.3M50x
Bluefin ETH-PERP+0.0100%1h2,733.1−0.038%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,734.4+0.010%$41.3M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,731.1−0.109%$958K$11.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,732.8−0.048%$54.4M$187.6M40xas long as short
Bulk ETH-USD+0.0100%1h2,732.6−0.054%$165.4M$300.2M25xas long as short
Extended ETH-USD+0.0104%1h2,731.9−0.081%$30.4M$72.8M50xas long as short
Deribit ETH-PERPETUAL+0.0112%1h2,734−0.002%$259.7M$196.2M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,733.8−0.011%$51.2M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0120%1h2,733.8−0.010%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0131%8h2,732.9−0.044%$6.8M$678.6M4.9xas long as short
Orderly PERP_ETH_USDC+0.0197%8h2,735.2+0.041%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0217%1h2,731.8−0.083%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,733.4−0.026%$83.1M$314.8M100xas long as short
Hibachi ETH/USDT-P+0.0280%1h2,734.5+0.015%$249K$1.4M20xas long as short
BloFin ETH-USDT+0.0378%8h2,733−0.039%$282.9M$175.6M150xas long as short