ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0093%/8h= −10.1% APRnext payment −$0.12 per $10,000 · paid last 24h −0.045%

Price spread now: gTrade (Gains Network) against Hyperliquid−0.078%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$170.175% of the position

Long on Hyperliquid Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.111%−$11 on $10k

Price spread, last 7 days+0.094%+$9 · spread now −0.078%, 7d avg −0.033%

Together, before fees−0.017%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.045% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ETH	2,732.8	0.0100	pay 0.0013% / 1h	45m 22s	$3.10B	$2.06B	25x
Short	gTrade (Gains Network) ETH/USD	2,730.7	L +0.0007% / S −0.0007%	get 0.0001% / 1h	45m 22s	$26.2M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.078%Rate

Funding earned: −$19.44
Price spread: −0.078% → −0.033%: −$4.48
Slippage, 4 orders: −$1.46
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$41.38
Costs to cover: 0.175%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; gTrade (Gains Network): virtual book (oracle venue), 4 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, 9 min ago	0.18 bp	4.7 bp −$5	4.7 bp −$47	5.0 bp −$500	6.9 bp −$3,474
Sell gTrade (Gains Network) virtual book (oracle venue), 4 min ago	0.53 bp	4.0 bp −$4	4.1 bp −$41	5.0 bp −$501	8.9 bp −$4,459

ETH on 55 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
Perpl ETH	−0.0447%	43m	2,730.4	−0.088%	$298K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,726.4	−0.234%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,728.5	−0.157%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,730.7	−0.078%	$11.9M	—	200x	as long as short
ApeX Omni ETHUSDT	−0.0008%	1h	2,729	−0.140%	$8.9M	$31.3M	100x	as long as short
dYdX ETH-USD	0.0000%	1h	2,729.2	−0.133%	$10.7M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,730.7	−0.077%	$188K	$842K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,728.1	−0.172%	$830K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USDshort	L +0.0007% / S −0.0007%	1h	2,730.7	−0.078%	$26.2M	—	200x
Bullet ETH-USD	+0.0018%	1h	2,730.1	−0.099%	$182K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX ETH-USD	+0.0048%	1h	2,730.5	−0.084%	$54.4M	$187.6M	40x	as long as short
BingX ETH-USDT	+0.0057%	8h	2,730	−0.101%	—	$1.15B	—	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,730.3	−0.091%	$380.2M	$575.8M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0073%	8h	2,730	−0.102%	$1.66B	$10.68B	100x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,730.1	−0.098%	$252.1M	$843.9M	200x	as long as short
Deribit ETH-PERPETUAL	+0.0087%	1h	2,731.9	−0.032%	$260.1M	$196.8M	50x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,730.2	−0.096%	$1.53B	$2.55B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,730.1	−0.099%	$4.9M	$155K	20x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,730.2	−0.096%	$6.34B	$15.84B	150x	as long as short
Bybit ETHUSDT	+0.0093%	8h	2,729.7	−0.114%	$2.39B	$4.34B	150x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,729.3	−0.129%	$1.05B	$1.19B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,729.9	−0.106%	$112.0M	$434.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,730.1	−0.097%	$23.2M	$105.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,730.4	−0.088%	—	$30.6M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,733.3	+0.020%	$15.7M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,731	−0.065%	$5.6M	$11.5M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,730.2	−0.095%	$498K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,729.6	−0.115%	$13.7M	$104.8M	50x	as long as short
Hyperliquid ETHlong	+0.0100%	1h	2,732.8	long leg	$3.10B	$2.06B	25x
Pacifica ETH	+0.0100%	1h	2,730.6	−0.081%	$31.6M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,728.6	−0.154%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,730.8	−0.072%	$2.8M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,740.8	+0.291%	$166.9M	$306.7M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,730.2	−0.094%	$3.35B	$8.79B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,730.5	−0.086%	$2.07B	$2.75B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,730.3	−0.092%	$15.0M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,728.4	−0.161%	$133.1M	$325.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,726.2	−0.241%	$182.6M	$671.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,729	−0.138%	$158.7M	$84.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,728.6	−0.154%	$21.1M	$69.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,730.9	−0.071%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,731.7	−0.040%	$10.9M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731.6	−0.042%	$41.2M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,729.7	−0.114%	$958K	$11.4M	100x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,730.5	−0.085%	$265.4M	$65.4M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,729.4	−0.124%	$30.4M	$72.5M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,732	−0.028%	$51.8M	$4.26B	50x	as long as short
Aftermath Perps ETHUSD	+0.0115%	1h	2,732.9	+0.004%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0154%	8h	2,728.1	−0.172%	$6.3M	$676.8M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0193%	8h	2,732.5	−0.011%	$32.1M	$11.5M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,731.5	−0.048%	$84.6M	$313.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0223%	1h	2,729.7	−0.114%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,730	−0.101%	$254K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0251%	8h	2,726.4	−0.236%	$284.6M	$174.6M	150x	as long as short
Bluefin ETH-PERP	+0.0690%	1h	2,729.6	−0.116%	$21K	$20K	25x	as long as short