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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.22 per $10,000 · paid last 24h +0.009%
Price spread now: Hibachi against Hyperliquid+0.010%7-day average −0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$220.219% of the position
Long on HyperliquidShort on Hibachi
What this pair did over the last
the charts below follow
Funding, last 7 days−0.328%−$33 on $10k
Price spread, last 7 days+0.012%+$1 · spread now +0.010%, 7d avg −0.009%
Together, before fees−0.316%+ Points / potential airdropHyperliquid: Season 2 · Hibachi: Active · farm board−$32 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.328%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid ETH2,784.70.0100pay 0.0013% / 1h49m 55s$3.20B$2.35B25x
ShortHibachi ETH/USDT-P2,7850.0280get 0.0035% / 1h49m 55s$271K$1.5M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hibachi 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

Funding earned
$37.8
Price spread: +0.010% → −0.009%
$1.96
Slippage, 4 orders
−$3.86
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Hibachi: 4.5 bp × 2 orders
−$9
Net
$17.89
Costs to cover
0.219%
Break-even
3.7 days
Slippage from Hyperliquid: live order book, 4 min ago; Hibachi: live order book, 4 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 Hyperliquid live order book, 4 min ago0.18 bp4.7 bp −$54.7 bp −$476.8 bp −$6788.8 bp −$4,410
Sell Hibachi live order book, 4 min ago0.75 bp5.9 bp −$612.0 bp −$120doesn't fitdoesn't fit

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%43m2,784.2−0.018%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,783.5−0.043%$5.7M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,782.5−0.079%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,784.9+0.007%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0066%1h2,786.6+0.068%$8.8M$32.8M100xas long as short
01 Exchange ETHUSD−0.0024%1h2,784.2−0.018%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0009%1h2,782.8−0.068%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,784.6−0.004%$12.8M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,785+0.011%$888K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,783.5−0.045%$22.5M—200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0016%8h2,781.9−0.099%—$17.4M—as long as short
OKX ETH-USDT-SWAP+0.0020%8h2,782.7−0.073%$1.70B$11.92B100xas long as short
Phemex ETHUSDT+0.0026%8h2,782.4−0.082%$271.2M$68.9M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,783.2−0.052%$12.9M—200xas long as short
Aster ETHUSDT+0.0039%8h2,782.4−0.083%$256.7M$1.00B200xas long as short
Aevo ETH-PERP+0.0064%1h2,782.8−0.070%$5.1M$636K20xas long as short
Bitget ETHUSDT+0.0065%8h2,782.8−0.068%$2.11B$3.11B150xas long as short
MEXC ETH_USDT+0.0066%8h2,782.9−0.066%$1.60B$2.63B500xas long as short
Binance ETHUSDT+0.0066%8h2,782.6−0.077%$6.45B$17.27B150xas long as short
Gate ETH_USDT+0.0071%8h2,782.3−0.086%$3.30B$9.59B200xas long as short
Bullet ETH-USD+0.0074%1h2,782.7−0.073%$184K$1.7M20xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,783.6−0.041%$60.3M$4.62B50xas long as short
KuCoin ETHUSDTM+0.0089%8h2,782.1−0.092%$423.2M$739.7M100xas long as short
Bybit ETHUSDT+0.0090%8h2,782.7−0.071%$2.52B$4.63B150xas long as short
HTX ETH-USDT+0.0090%8h2,782−0.097%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,782.7−0.073%$116.3M$495.5M50xas long as short
Lighter RH ETH+0.0096%1h2,784.1−0.021%$25.4M$120.7M50xas long as short
Vest ETH-PERP+0.0097%1h2,784.2−0.017%—$1.1M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,783.9−0.030%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,783.5−0.043%$479K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,784.1−0.022%$14.4M$118.2M50xas long as short
Hyperliquid ETHlong+0.0100%1h2,784.7long leg$3.20B$2.35B25x
Pacifica ETH+0.0100%1h2,784.6−0.003%$31.3M$306.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,783.7−0.036%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,785+0.010%$2.7M$17.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,784.2−0.018%$168.3M$253.1M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,782−0.096%$15.1M$44.0M50xas long as short
Variational Omni ETH+0.0100%8h2,782.7−0.073%$147.8M$336.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,782.4−0.084%$182.1M$780.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,784.1−0.022%$161.9M$90.2M50xas long as short
StandX ETH-USD+0.0100%1h2,783.6−0.040%$21.5M$58.3M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,784.70.000%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,783.4−0.046%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,784.6−0.004%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,782.8−0.067%$976K$13.9M100xas long as short
SoDEX ETH-USD+0.0100%1h2,782.2−0.090%$55.4M$229.0M40xas long as short
Deribit ETH-PERPETUAL+0.0102%1h2,783.9−0.029%$258.9M$222.8M50xas long as short
Extended ETH-USD+0.0104%1h2,782.2−0.089%$32.7M$77.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,783.6−0.041%—$41.8M500xas long as short
Kraken Futures PF_ETHUSD+0.0122%1h2,783.1−0.057%$86.7M$332.6M100xas long as short
Kalshi KXETHPERP+0.0124%8h2,784.4−0.011%$8.4M$682.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,785.3+0.021%$32.7M$12.1M100xas long as short
BloFin ETH-USDT+0.0186%8h2,783.3−0.051%$285.1M$195.1M150xas long as short
Reya ETHRUSDPERP+0.0198%1h2,783.2−0.054%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-Pshort+0.0280%1h2,785+0.010%$271K$1.5M20x