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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.071%
Price spread now: Hyperliquid against Hotstuff+0.090%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on HotstuffShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHotstuff: Active · Hyperliquid: Season 2 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hyperliquid is 0.090% dearer against Hotstuff than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff ETH-PERP2,768.4−0.0080get 0.0010% / 1h44m 30s$5K$2K50x
ShortHyperliquid ETH2,770.90.0100get 0.0013% / 1h44m 30s$3.19B$2.38B25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Hotstuff. 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
$37.8
Price spread: +0.090% → 0.000%
$9.03
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$32.83
Costs to cover
0.140%
Break-even
0.9 days
Slippage unknown: Hotstuff: no order-book sample; Hyperliquid: live order book, 10 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 Hotstuff no order-book sample—————
Sell Hyperliquid live order book, 10 min ago0.18 bp4.7 bp −$56.1 bp −$618.9 bp −$893doesn't fit
Hotstuff: 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.

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%43m2,768−0.014%$289K$6.9M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,770.7+0.083%$119K$22.5M52xas long as short
ApeX Omni ETHUSDT−0.0095%1h2,771.1+0.098%$10.5M$31.0M100xas long as short
Hotstuff ETH-PERPlong−0.0080%1h2,768.4long leg$5K$2K50x
01 Exchange ETHUSD−0.0064%1h2,768.40.000%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,771.3+0.105%$795K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,768.4+0.001%$5.8M$12.0M25xas long as short
dYdX ETH-USD0.0000%1h2,769.1+0.026%$12.9M$45.3M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,768.5+0.003%$22.4M—200xas long as short
Phemex ETHUSDT+0.0021%8h2,768.1−0.013%$266.3M$65.9M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0023%8h2,768−0.015%$1.70B$11.83B100xas long as short
Aftermath Perps ETHUSD+0.0024%1h2,771.8+0.122%$29K$21K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,768.5+0.003%$13.1M—200xas long as short
Aster ETHUSDT+0.0042%8h2,767.9−0.017%$255.7M$995.5M200xas long as short
MEXC ETH_USDT+0.0044%8h2,768.3−0.003%$1.59B$2.63B500xas long as short
Binance ETHUSDT+0.0044%8h2,767.8−0.021%$6.43B$17.18B150xas long as short
Aevo ETH-PERP+0.0048%1h2,766.1−0.082%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0060%8h2,768.3−0.004%$3.29B$9.57B200xas long as short
Bitget ETHUSDT+0.0074%8h2,768.2−0.006%$2.09B$3.13B150xas long as short
Bullet ETH-USD+0.0080%1h2,767.8−0.021%$185K$1.8M20xas long as short
Variational Omni ETH+0.0092%8h2,771.1+0.096%$141.1M$318.8M—as long as short
SoDEX ETH-USD+0.0094%1h2,768−0.014%$55.1M$228.6M40xas long as short
Lighter ETH+0.0096%1h2,768.5+0.003%$115.1M$509.1M50xas long as short
Lighter RH ETH+0.0096%1h2,769.9+0.056%$25.3M$121.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,768.9+0.019%—$41.8M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,767.7−0.024%$15.9M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,768.7+0.011%$481K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,768−0.014%$16.0M$114.8M50xas long as short
Hyperliquid ETHshort+0.0100%1h2,770.9+0.090%$3.19B$2.38B25x
Pacifica ETH+0.0100%1h2,768.6+0.007%$31.3M$283.2M50xas long as short
Bybit ETHUSDT+0.0100%8h2,767.3−0.040%$2.50B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,767.8−0.022%$2.9M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.3+0.070%$2.8M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.8+0.088%$164.5M$255.4M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,768.5+0.003%$424.8M$742.3M100xas long as short
BingX ETH-USDT+0.0100%8h2,767.7−0.026%—$1.19B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,768.5+0.002%$15.3M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,771.4+0.109%$178.2M$790.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,771.7+0.119%$161.2M$97.4M50xas long as short
StandX ETH-USD+0.0100%1h2,770.4+0.072%$21.4M$57.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,769.2+0.029%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.8+0.051%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.3+0.033%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,770.5+0.076%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,767.2−0.043%$971K$14.3M100xas long as short
HTX ETH-USDT+0.0100%8h2,767.6−0.030%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,767.9−0.018%$31.4M$76.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,769.6+0.044%$60.0M$4.63B50xas long as short
Kalshi KXETHPERP+0.0120%8h2,770.3+0.069%$8.6M$671.0M4.9xas long as short
Orderly PERP_ETH_USDC+0.0129%8h2,771+0.095%$32.5M$11.8M100xas long as short
Deribit ETH-PERPETUAL+0.0144%1h2,770+0.059%$259.0M$223.3M50xas long as short
BloFin ETH-USDT+0.0165%8h2,767.9−0.018%$286.6M$195.3M150xas long as short
Reya ETHRUSDPERP+0.0189%1h2,767.5−0.033%$7.5M$992K25xas long as short
Kraken Futures PF_ETHUSD+0.0241%1h2,769.3+0.033%$88.4M$329.9M100xas long as short
Hibachi ETH/USDT-P+0.0392%1h2,770.3+0.068%$273K$1.5M20xas long as short