ETH

Alert

Funding spread now, next payment 16:00 UTC+0.0239%/8h

next payment, per $10,000+$0.30paid, last 24h+0.009%paid, last 7 days−0.003%to open and close $10k−$19

Long on Polymarket Perps Short on Hyperliquid

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.003% in total (about -0.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 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	Polymarket Perps ETH-USD	2,738.5	0.0100	pay 0.0013% / 1h	21m 19s	$10.7M	$5.3M	50x
Short	Hyperliquid ETH	2,741.8	0.0339	get 0.0042% / 1h	21m 19s	$3.27B	$2.17B	25x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee HyperliquidbpOrdersRate

Funding earned: $50.29
Slippage, 4 orders: −$2.48
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $30.82
Break-even: 2.7 days

Slippage from Polymarket Perps: live order book, 4 min ago; Hyperliquid: live order book, 4 min ago.

Price risk

price view

Price gap now: +0.121%
Avg gap 7d: +0.024%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Polymarket Perps live order book, 4 min ago	0.91 bp	4.9 bp −$5	6.4 bp −$64	9.9 bp −$990	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.18 bp	4.7 bp −$5	4.7 bp −$47	6.2 bp −$623	9.3 bp −$4,627

ETH on 54 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	$406K	$6.0M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	$5K	$2K	50x	as long as short
Gate ETH_USDT	−0.0046%	8h	$3.73B	$8.68B	200x	as long as short
ApeX Omni ETHUSDT	−0.0031%	1h	$7.7M	$27.6M	100x	as long as short
SoDEX ETH-USD	−0.0021%	1h	$55.3M	$161.6M	40x	as long as short
Kalshi KXETHPERP	0.0000%	8h	$7.0M	$535.4M	4.9x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	$22.2M	—	200x	as long as short
Bullet ETH-USD	+0.0007%	1h	$190K	$1.9M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0014%	8h	$1.71B	$11.06B	100x	as long as short
01 Exchange ETHUSD	+0.0016%	1h	$188K	$1.1M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
GMX ETH/USD [ETH-USDC]	L +0.0019% / S +0.0013%	1h	$11.9M	—	200x	as long as short
Phemex ETHUSDT	+0.0047%	8h	$264.9M	$66.5M	150x	as long as short
Phoenix ETH	+0.0050%	1h	$1.4M	$2.4M	25x	as long as short
Bitget ETHUSDT	+0.0065%	8h	$2.13B	$3.10B	150x	as long as short
Injective ETH/USDC PERP	+0.0067%	1h	$117K	$22.5M	52x	as long as short
HTX ETH-USDT	+0.0085%	8h	$1.08B	$1.18B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	$60.2M	$4.79B	50x	as long as short
MEXC ETH_USDT	+0.0091%	8h	$1.53B	$2.46B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	$6.53B	$15.40B	150x	as long as short
Lighter ETH	+0.0096%	1h	$118.3M	$498.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	$25.4M	$118.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	—	$44.8M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	$5.0M	$738K	20x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	$14.3M	$11.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	$473K	$2.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	$17.7M	$113.2M	50x	as long as short
Aster ETHUSDT	+0.0100%	8h	$272.9M	$845.8M	200x	as long as short
Pacifica ETH	+0.0100%	1h	$30.9M	$207.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	$2.47B	$4.39B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	$3.0M	$13.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	$2.5M	$15.5M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	$150.8M	$273.0M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	$441.1M	$663.9M	100x	as long as short
BingX ETH-USDT	+0.0100%	8h	—	$1.09B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	$14.9M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	$151.5M	$301.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	$177.1M	$748.9M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	$21.0M	$51.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	—	$1.2M	50x	as long as short
Polymarket Perps ETH-USDlong	+0.0100%	1h	$10.7M	$5.3M	50x
Bluefin ETH-PERP	+0.0100%	1h	$21K	$26K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	$943K	$14.6M	100x	as long as short
dYdX ETH-USD	+0.0103%	1h	$16.1M	$33.0M	50x	as long as short
Extended ETH-USD	+0.0104%	1h	$32.4M	$75.1M	50x	as long as short
Hibachi ETH/USDT-P	+0.0120%	1h	$287K	$1.3M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0141%	1h	$260.6M	$214.5M	50x	as long as short
Reya ETHRUSDPERP	+0.0159%	1h	$7.3M	$972K	25x	as long as short
RISEx ETH/USDC	+0.0171%	1h	$5.8M	$13.4M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0209%	8h	$32.1M	$10.8M	100x	as long as short
BloFin ETH-USDT	+0.0211%	8h	$296.0M	$177.2M	150x	as long as short
Aftermath Perps ETHUSD	+0.0278%	1h	$29K	$27K	20x	as long as short
Hyperliquid ETHshort	+0.0339%	1h	$3.27B	$2.17B	25x
Kraken Futures PF_ETHUSD	+0.0350%	1h	$87.7M	$315.2M	100x	as long as short
Derive ETH-PERP	+0.0390%	1h	$42.7M	$27.2M	15x	as long as short