Funding arb · Price arb /

EIGEN

all EIGEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0196%/8hnext payment +$0.25 per $10,000 · paid last 24h +0.019%

Price spread now: Hyperliquid against Injective−1.148%53s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding pays, the price is against you. Hyperliquid is 1.148% cheaper against Injective than usual: you would sell low and buy high (spread −1.148% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$115 on $10k: about 20 days of funding at the current rate (+$6 a day). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective EIGEN/USDC PERP	0.2438	0.0033	pay 0.0004% / 1h	36m 17s	$6	$6	5.5x
Short	Hyperliquid EIGEN	0.2410	0.0229	get 0.0029% / 1h	36m 17s	$4.8M	$1.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Injective. 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 InjectivebpFee HyperliquidbpOrdersPrice spread, now −1.148%Rate

Funding earned: $41.18
Price spread: −1.148% → 0.000%: −$114.85
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$82.69
Costs to cover: 0.090%
Break-even: 21.1 days

Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 3 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 3 min ago	2.07 bp	14.9 bp −$15	doesn't fit	doesn't fit	doesn't fit

Injective: 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.

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
Kraken Futures PF_EIGENUSD	−0.0230%	1h	0.2407	−1.262%	$169K	$67K	20x	as long as short
Bybit EIGENUSDT	−0.0223%	4h	0.2401	−1.518%	$9.7M	$7.8M	50x	as long as short
Deribit EIGEN_USDC-PERPETUAL	−0.0125%	1h	0.2402	−1.464%	—	$86	10x	as long as short
01 Exchange EIGENUSD	−0.0056%	1h	0.2405	−1.354%	$765	$60	10x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2408	−1.230%	$3K	—	5x	as long as short
Injective EIGEN/USDC PERPlong	+0.0033%	1h	0.2438	long leg	$6	$6	5.5x
Lighter EIGEN	+0.0096%	1h	0.2405	−1.370%	$543K	$350K	5x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2407	−1.272%	$27K	$15K	3x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2407	−1.270%	$44K	$24K	5x	as long as short
Binance EIGENUSDT	+0.0100%	4h	0.2401	−1.515%	$8.2M	$18.9M	75x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2400	−1.559%	$1.7M	$4.8M	20x	as long as short
Gate EIGEN_USDT	+0.0100%	4h	0.2404	−1.395%	$717K	$673K	50x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2404	−1.395%	$8.3M	$2.1M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2408	−1.231%	$2.3M	$10.2M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2405	−1.354%	$1.8M	$1.3M	75x	as long as short
BingX EIGEN-USDC	+0.0100%	4h	0.2404	−1.395%	—	$6.5M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2420	−0.721%	$199K	$142K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2421	−0.717%	$184K	$1.8M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2421	−0.697%	$35K	$233K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2403	−1.436%	$2K	$2K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2401	−1.529%	$89K	$494K	10x	as long as short
BloFin EIGEN-USDT	+0.0143%	4h	0.2415	−0.943%	$358K	$129K	75x	as long as short
Coinbase International EIGEN-PERP-INTX	+0.0152%	1h	0.2406	−1.300%	$41K	$155K	50x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0195% / S −0.0568%	1h	0.2403	−1.417%	$2K	—	100x	as long as short
Hyperliquid EIGENshort	+0.0229%	1h	0.2410	−1.148%	$4.8M	$1.4M	5x
Reya EIGENRUSDPERP	+0.0510%	1h	0.2404	−1.401%	$839	—	15x	as long as short