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Funding arb · Price arb /

ETH

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Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h +0.032%
Price spread now: Hyperliquid against BingX+0.021%7-day average — · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$210.213% of the position
Long on BingXShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.100%+$10 on $10k
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.021% dearer against BingX than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX ETH-USDT2,772.10.0018pay 0.0018% / 8h1h 50m—$1.18B—
ShortHyperliquid ETH2,772.70.0100get 0.0013% / 1h50m 58s$3.19B$2.38B25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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
$17.22
Price spread: +0.021% → 0.000%
$2.13
Slippage, 4 orders
−$2.31
Fee BingX: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$1.96
Costs to cover
0.213%
Break-even
7.8 days
Slippage from BingX: live order book, 3 min ago; Hyperliquid: live order book, 13 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 3 min ago0.04 bp5.4 bp −$55.6 bp −$566.1 bp −$6067.0 bp −$3,500
Sell Hyperliquid live order book, 13 min ago0.18 bp4.7 bp −$54.7 bp −$474.7 bp −$4685.4 bp −$2,688

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%43m2,771.6−0.018%$289K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,770.6−0.053%$5.7M$12.1M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,771.8−0.011%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,773.3+0.043%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,770.9−0.044%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0001%1h2,772.3+0.007%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,771.2−0.033%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,772−0.004%$884K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,772.3+0.005%$22.4M—200xas long as short
BingX ETH-USDTlong+0.0018%8h2,772.1long leg—$1.18B—
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,771.8−0.010%$1.71B$11.85B100xas long as short
Phemex ETHUSDT+0.0023%8h2,770.8−0.049%$266.9M$65.7M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,772.2+0.002%$13.2M—200xas long as short
Aster ETHUSDT+0.0031%8h2,772.1−0.001%$256.3M$993.1M200xas long as short
Nado ETH-PERP+0.0038%1h2,771.1−0.035%$14.3M$118.5M50xas long as short
Bullet ETH-USD+0.0039%1h2,771−0.041%$182K$1.8M20xas long as short
Hibachi ETH/USDT-P+0.0048%1h2,773.9+0.063%$288K$1.5M20xas long as short
MEXC ETH_USDT+0.0053%8h2,770.6−0.054%$1.61B$2.63B500xas long as short
Binance ETHUSDT+0.0053%8h2,772.3+0.007%$6.44B$17.17B150xas long as short
Aevo ETH-PERP+0.0056%1h2,769.7−0.088%$5.0M$636K20xas long as short
SoDEX ETH-USD+0.0067%1h2,770.7−0.051%$55.2M$228.6M40xas long as short
Bitget ETHUSDT+0.0073%8h2,772.9+0.030%$2.10B$3.11B150xas long as short
Gate ETH_USDT+0.0082%8h2,772.1−0.001%$3.29B$9.54B200xas long as short
Deribit ETH-PERPETUAL+0.0086%1h2,772.2+0.004%$258.4M$224.4M50xas long as short
Lighter ETH+0.0096%1h2,771.1−0.038%$114.9M$495.9M50xas long as short
Lighter RH ETH+0.0096%1h2,772.6+0.018%$25.4M$120.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,772.2+0.003%—$41.7M500xas long as short
HTX ETH-USDT+0.0097%8h2,770.3−0.067%$1.08B$1.32B200xas long as short
Variational Omni ETH+0.0098%8h2,772.1+0.001%$135.2M$326.5M—as long as short
Paradex ETH-USD-PERP+0.0100%8h2,770−0.076%$15.9M$10.6M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.2−0.033%$481K$2.8M50xas long as short
Hyperliquid ETHshort+0.0100%1h2,772.7+0.021%$3.19B$2.38B25x
Pacifica ETH+0.0100%1h2,771.1−0.035%$31.2M$293.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,772.1−0.001%$2.51B$4.61B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,770−0.076%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,772.4+0.011%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.6−0.055%$166.0M$246.3M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,771.3−0.028%$423.9M$740.4M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,771.3−0.028%$15.2M$44.0M50xas long as short
edgeX ETHUSDC+0.0100%4h2,772.5+0.015%$179.7M$779.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776.1+0.145%$161.5M$95.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,771.8−0.012%$8.7M$32.7M100xas long as short
StandX ETH-USD+0.0100%1h2,773.8+0.061%$21.4M$57.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,771.4−0.024%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,772.6+0.018%$10.8M$7.7M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,772−0.003%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,773.3+0.042%$42.7M$29.3M15xas long as short
SunX ETH-USDT+0.0100%8h2,770.4−0.060%$970K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,770.1−0.073%$31.4M$75.1M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,772−0.004%$59.9M$4.60B50xas long as short
Kalshi KXETHPERP+0.0108%8h2,772.10.000%$8.5M$673.2M4.9xas long as short
Orderly PERP_ETH_USDC+0.0138%8h2,773.7+0.056%$32.5M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,771.7−0.013%$86.1M$330.7M100xas long as short
BloFin ETH-USDT+0.0173%8h2,771−0.039%$285.0M$194.9M150xas long as short
Reya ETHRUSDPERP+0.0187%1h2,770.9−0.044%$7.3M$1.1M25xas long as short