Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.1105 | +0.0060 | pay 0.0007% / 1h | 59m 20s | $18K | $114K | 50x | Long TxFlow5% off | |
| SHORT | 0.1107 | +0.0094 | get 0.0012% / 1h | 59m 20s | $3.9M | $588K | 5x | Short Hyperliquid4% off |
Price gap+0.217%
Funding gap+0.0034% /8h
Both sides work: funding pays +$1 a day on $10k, and the gap is 0.058% above its 7d average: +$6 more if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$9+0.0034% /8h now · paid +0.088% over the last 7D
Price+$6spread +0.217% now, avg +0.159% → +0.058% if it goes back
Costs−$370.374% of $10k · taker + slippage, in and out
Result−$23−0.23%+ Points / potential airdropTxFlow: points · Hyperliquid: Season 2 · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now+0.217%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hOP on 30 exchanges
lowest funding firstBefore you open
4 ok · 2 to watch- Watch: Large against open interest9.1 / 9.2 bp$10k is over 10% of TxFlow’s open interest.
- Note: Margin at max leverage$200 + $2,000TxFlow 50x, Hyperliquid 5x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: +$1.02Long TxFlow: 24 payments, −$1.79; short Hyperliquid: 24 payments, +$2.82.
- OK: Entry gap works for you+0.217% vs +0.159%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$18K vs $3.9M OITxFlow sets your exit cost. Check its book before closing.
- OK: Points on a legTxFlow points · Hyperliquid Season 2Volume here counts toward the points program.
- OK: No KYC on either legTxFlow No · Hyperliquid NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0042%/8h × 21 periods+$8.77
Price spread+0.217% → +0.159% (7d avg)+$5.78
Slippage, 4 orderslive order books−$19.36
Fee TxFlow bp × 2 orders−$9.00
Fee Hyperliquid bp × 2 orders−$9.00
Net · 7 days · $10k−$22.80
Costs to cover0.374%Break-even25.2 days
Slippage: TxFlow: live order book, 54 min ago; Hyperliquid: live order book, 2 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGTxFlow4.559.1 bp−$910.4 bp−$10492.6 bp−$9,264doesn’t fit
SELL · SHORTHyperliquid1.809.2 bp−$916.8 bp−$168158.1 bp−$15.8Kdoesn’t fit
Closing costs about the same again.
| 10-14 12:02 | Phemex | Other | $OP got the first move. Now comes the harder part. Is capital rotating back into L2s, or is this a sharp bounce from beaten-down levels? Price is the headline. Follow-through is the test. Which side are you watching?👇 @Phemex_official on X ↗ |
Phemex