Settings8H · net · $10k
Funding arb · Price arb /

ETHFI

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.022%
Price spread now: Hyperliquid against BingX+0.043%7-day average +0.111% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 7 days+0.158%+$16 on $10k
Price spread, last 7 days−0.035%−$3 · spread now +0.043%, 7d avg +0.111%
Together, before fees+0.123%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.068% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.111%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX ETHFI-USDT0.70290.0100pay 0.0050% / 4h5m 28s$8.9M
ShortHyperliquid ETHFI0.70320.0100get 0.0013% / 1h5m 28s$17.4M$7.8M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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: +0.043% → +0.111%
−$6.82
Slippage, 4 orders
no order book: not counted
Fee BingX: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$25.82
Costs to cover
0.190%
Break-even
never at this rate
Slippage unknown: BingX: live order book, 8 min ago; Hyperliquid: live order book, 7 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 BingX live order book, 8 min ago1.42 bp6.6 bp −$710.9 bp −$10921.4 bp −$2,14252.9 bp −$26.4K
Sell Hyperliquid live order book, 7 min ago1.42 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

ETHFI on 24 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
Deribit ETHFI_USDC-PERPETUAL−0.0461%1h0.7031+0.028%$40K$12K10xas long as short
HTX ETHFI-USDT−0.0400%4h0.7018−0.156%$87K$168K20xas long as short
Orderly PERP_ETHFI_USDC−0.0233%4h0.7028−0.014%$16K$1K10xas long as short
Paradex ETHFI-USD-PERP+0.0005%8h0.7028−0.013%$6K5xas long as short
Injective ETHFI/USDC PERP+0.0033%1h0.7240+3.002%$321$51K5.5xas long as short
Kraken Futures PF_ETHFIUSD+0.0044%1h0.7032+0.048%$263K$210K20xas long as short
Variational Omni ETHFI+0.0072%4h0.7029+0.004%$981K$706Kas long as short
Lighter ETHFI+0.0096%1h0.7031+0.028%$1.1M$883K5xas long as short
Hyperliquid ETHFIshort+0.0100%1h0.7032+0.043%$17.4M$7.8M5x
Aster ETHFIUSDT+0.0100%4h0.7029+0.004%$180K$264K10xas long as short
Show all 24 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance ETHFIUSDT+0.0100%4h0.7023−0.079%$24.4M$35.2M75xas long as short
Bybit ETHFIUSDT+0.0100%4h0.7025−0.057%$17.6M$12.6M25xas long as short
OKX ETHFI-USDT-SWAP+0.0100%4h0.7030+0.014%$5.0M$12.3M20xas long as short
Gate ETHFI_USDT+0.0100%4h0.7031+0.028%$1.7M$2.0M75xas long as short
MEXC ETHFI_USDT+0.0100%4h0.7028−0.014%$15.8M$4.1M125xas long as short
KuCoin ETHFIUSDTM+0.0100%4h0.7031+0.028%$1.2M$232K50xas long as short
Bitget ETHFIUSDT+0.0100%4h0.7025−0.057%$6.0M$5.2M75xas long as short
BingX ETHFI-USDTlong+0.0100%4h0.7029long leg$8.9M
Polymarket Perps ETHFI-USD+0.0100%1h0.7047+0.250%$70K$118K5xas long as short
SunX ETHFI-USDT+0.0100%4h0.7036+0.100%$2K$1.1M20xas long as short
Extended ETHFI-USD+0.0104%1h0.7019−0.142%$95K$381K10xas long as short
Aevo ETHFI-PERP+0.0104%1h0.7025−0.057%$8K3xas long as short
BloFin ETHFI-USDT+0.0340%4h0.7036+0.100%$1.2M$246K75xas long as short
Coinbase International ETHFI-PERP-INTX+0.0624%1h0.7096+0.953%$31K$6K50xas long as short