ARB

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1749%/8h= −191.5% APRnext payment −$2.19 per $10,000 · paid last 24h −0.563%

Price spread now: Injective against Hyperliquid−0.646%53s7-day average −0.516% · you buy dearer than you sell

Net, funding: paid 7d − costs−$489as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1161.160% of the position

Long on Hyperliquid Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.727%−$373 on $10k

Price spread, last 4 days (all we have)+1.468%+$147 · spread now −0.646%, 7d avg −0.516%

Together, before fees−2.259%+ Points / potential airdropHyperliquid: Season 2 · farm board−$226 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$52 a day on $10k at the current rate, and Injective is 0.130% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.516%). Swap the legs. 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	Hyperliquid ARB	0.2199	0.0100	pay 0.0013% / 1h	48m 13s	$37.9M	$48.7M	10x
Short	Injective ARB/USDC PERP	0.2185	−0.1649	pay 0.0206% / 1h	48m 13s	$39K	$372K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.646%Rate

Funding earned: −$367.35
Price spread: −0.646% → −0.516%: −$12.97
Slippage, 4 orders: −$106.94
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$496.27
Costs to cover: 1.160%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Injective: live order book, 11 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, 5 min ago	1.13 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 11 min ago	49.82 bp	49.8 bp −$50	doesn't fit	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERPshort	−0.1649%	1h	0.2185	−0.646%	$39K	$372K	12x
01 Exchange ARBUSD	−0.0136%	1h	0.2197	−0.100%	$7K	$2K	10x	as long as short
MEXC ARB_USDT	−0.0136%	8h	0.2197	−0.082%	$40.6M	$59.6M	200x	as long as short
OKX ARB-USDT-SWAP	−0.0135%	8h	0.2197	−0.086%	$22.2M	$147.8M	50x	as long as short
Variational Omni ARB	−0.0117%	8h	0.2192	−0.311%	$1.8M	$2.9M	—	as long as short
Polymarket Perps ARB-USD	−0.0116%	1h	0.2197	−0.095%	$70K	$2.1M	10x	as long as short
Gate ARB_USDT	−0.0103%	8h	0.2198	−0.064%	$5.3M	$18.7M	60x	as long as short
Orderly PERP_ARB_USDC	−0.0078%	8h	0.2198	−0.055%	$13K	$388K	10x	as long as short
Bybit ARBUSDT	−0.0048%	8h	0.2197	−0.091%	$55.6M	$125.9M	50x	as long as short
Kraken Futures PF_ARBUSD	−0.0006%	1h	0.2198	−0.046%	$1.1M	$4.4M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ARB-USD	0.0000%	1h	0.2195	−0.168%	$65K	$5K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2199	−0.009%	$24K	$34K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2199	−0.009%	$32K	—	150x	as long as short
Extended ARB-USD	+0.0008%	1h	0.2197	−0.109%	$349K	$2.5M	25x	as long as short
Binance ARBUSDT	+0.0010%	8h	0.2199	−0.027%	$64.1M	$306.6M	75x	as long as short
SoDEX ARB-USD	+0.0028%	1h	0.2198	−0.064%	$10K	$2.3M	5x	as long as short
BloFin ARB-USDT	+0.0041%	8h	0.2195	−0.205%	$3.1M	$2.6M	75x	as long as short
Bitget ARBUSDT	+0.0065%	8h	0.2197	−0.100%	$20.9M	$34.6M	50x	as long as short
BingX ARB-USDC	+0.0068%	8h	0.2196	−0.132%	—	$6.5M	—	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2199	+0.013%	$139K	$7K	3x	as long as short
Phemex ARBUSDT	+0.0090%	8h	0.2198	−0.055%	$4.9M	$12.9M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2197	−0.082%	$1.2M	$5.7M	15x	as long as short
Hyperliquid ARBlong	+0.0100%	1h	0.2199	long leg	$37.9M	$48.7M	10x
Aster ARBUSDT	+0.0100%	8h	0.2196	−0.146%	$634K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2194	−0.220%	$42K	$169K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2199	−0.018%	$19.5M	$15.1M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2204	+0.222%	$40K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2205	+0.264%	$470K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2196	−0.146%	$118K	$282K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2197	−0.100%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2199	−0.005%	$299K	$953K	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0224%	1h	0.2197	−0.100%	$492K	$2.0M	50x	as long as short
RISEx ARB/USDC	+0.0225%	1h	0.2199	−0.011%	$476K	$2.6M	10x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2199	−0.012%	$820K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2197	−0.114%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0573%	1h	0.2197	−0.114%	$992K	$2.8M	20x	as long as short