EIGEN

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0260%/8h= +28.5% APRnext payment +$0.33 per $10,000 · paid last 24h −0.053%

Price spread now: Coinbase International against Hyperliquid−0.033%7-day average −0.161% · you buy dearer than you sell

Net, funding: paid 7d − costs−$182as in the Funding arb table

Net, price: spread back to 7d avg − costs−$157as in the Price arb table

costs, in and out, $10k−$1701.699% of the position

Long on Hyperliquid Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 4 days (all we have)−0.139%−$14 · spread now −0.033%, 7d avg −0.161%

Together, before fees−0.255%+ Points / potential airdropHyperliquid: Season 2 · farm board−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Coinbase International is 0.128% dearer against Hyperliquid than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.161%. Mind the row above: over the last 7 days funding on this pair cost −0.117%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.117% in total (about -6.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid EIGEN	0.2401	0.0100	pay 0.0013% / 1h	19m 24s	$4.5M	$1.7M	5x
Short	Coinbase International EIGEN-PERP-INTX	0.2400	0.0360	get 0.0045% / 1h	19m 24s	$40K	$269K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Hyperliquid. 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

Position, each leg$Hold fordaysFee HyperliquidbpFee Coinbase InternationalbpOrdersPrice spread, now −0.033%Rate

Funding earned: $54.6
Price spread: −0.033% → −0.161%: $12.77
Slippage, 4 orders: −$150.92
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$102.54
Costs to cover: 1.699%
Break-even: 20.1 days

Slippage from Hyperliquid: live order book, 2 min ago; Coinbase International: live order book, 29 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 2 min ago	2.10 bp	21.6 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 29 min ago	6.91 bp	32.6 bp −$33	doesn't fit	doesn't fit	doesn't fit

EIGEN on 26 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit EIGENUSDT	−0.0360%	4h	0.2396	−0.217%	$9.2M	$7.2M	50x	as long as short
01 Exchange EIGENUSD	−0.0048%	1h	0.2396	−0.208%	$812	$5K	10x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2393	−0.351%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2394	−0.292%	—	$41	10x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+1.541%	$6	$6	5.5x	as long as short
BloFin EIGEN-USDT	+0.0049%	4h	0.2382	−0.791%	$349K	$113K	75x	as long as short
Gate EIGEN_USDT	+0.0092%	4h	0.2394	−0.292%	$721K	$580K	50x	as long as short
Lighter EIGEN	+0.0096%	1h	0.2400	−0.058%	$539K	$508K	5x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2397	−0.167%	$37K	$20K	3x	as long as short
Hyperliquid EIGENlong	+0.0100%	1h	0.2401	long leg	$4.5M	$1.7M	5x

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster EIGENUSDT	+0.0100%	4h	0.2397	−0.180%	$44K	$26K	5x	as long as short
Binance EIGENUSDT	+0.0100%	4h	0.2397	−0.180%	$8.1M	$19.9M	75x	as long as short
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2393	−0.333%	$1.6M	$4.8M	20x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2397	−0.167%	$7.9M	$2.4M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2395	−0.250%	$2.4M	$9.9M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2394	−0.292%	$1.8M	$1.4M	75x	as long as short
BingX EIGEN-USDC	+0.0100%	4h	0.2395	−0.250%	—	$6.5M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2378	−0.954%	$209K	$138K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2364	−1.546%	$188K	$2.5M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2365	−1.499%	$34K	$231K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2397	−0.167%	$1K	$4K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2393	−0.348%	$89K	$726K	10x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0195% / S −0.0568%	1h	0.2396	−0.197%	$2K	—	100x	as long as short
Kraken Futures PF_EIGENUSD	+0.0324%	1h	0.2395	−0.265%	$160K	$112K	20x	as long as short
Coinbase International EIGEN-PERP-INTXshort	+0.0360%	1h	0.2400	−0.033%	$40K	$269K	50x
Reya EIGENRUSDPERP	+0.0520%	1h	0.2396	−0.194%	$837	—	15x	as long as short