data as of
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Price arb /

ETH

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$20
spread now+0.103%7d average+0.069%fees + slippage, in and out−$23spread needed0.233%
Long on PhemexShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,751.60.0037pay 0.0037% / 8h1h 06m$265.4M$65.8M150x
ShortHyperliquid ETH2,754.40.0159get 0.0020% / 1h6m 58s$3.20B$2.13B25x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$10.32
Funding while held
$3.69
Slippage, 4 orders
−$2.31
Fee Phemex: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$9.3
Spread needed to break even
0.233%
Slippage from Phemex: live order book, 4 min ago; Hyperliquid: live order book, 9 min ago.

Cost of waiting

funding view
Funding /8h
+0.0123%
Per $10,000 a day
+$3.69
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 4 min ago0.02 bp6.0 bp −$66.2 bp −$629.1 bp −$91314.4 bp −$7,221
Sell Hyperliquid live order book, 9 min ago0.18 bp4.7 bp −$54.7 bp −$474.7 bp −$4706.5 bp −$3,246

ETH price on every exchange

against the cheapest. Click to use as the short leg.
Bulk2,733.3cheapestInjective2,733.3+0.001%Variational Omni2,739.4+0.225%ApeX Omni2,740.9+0.278%Hotstuff2,742.5+0.338%Aftermath Perps2,743.1+0.359%edgeX2,743.1+0.360%Aevo2,748.2+0.547%StandX2,749.9+0.609%Reya2,750.2+0.621%SunX2,750.3+0.621%Perpl2,750.5+0.630%OKX2,750.6+0.633%HTX2,750.6+0.634%BloFin2,750.9+0.646%Bullet2,750.9+0.646%Katana Perps2,751+0.649%Backpack2,751+0.649%GMX2,751.1+0.651%gTrade (Gains Network)2,751.1+0.651%Jupiter Perps2,751.1+0.653%Bybit2,751.2+0.656%SoDEX2,751.2+0.656%Gate2,751.3+0.659%Polymarket Perps2,751.3+0.660%Kalshi2,751.4+0.663%Nado2,751.4+0.664%Bluefin2,751.5+0.665%
Phemex2,751.6+0.669%
dYdX2,751.6+0.670%Extended2,751.6+0.672%Vest2,751.7+0.673%Pacifica2,751.7+0.674%Binance2,752.1+0.688%Lighter RH2,752.1+0.688%KuCoin2,752.1+0.690%RISEx2,752.2+0.694%BingX2,752.3+0.695%Arcus2,752.3+0.696%Lighter2,752.3+0.696%MEXC2,752.4+0.701%Bitget2,752.5+0.704%Kraken Futures2,752.5+0.705%Deribit2,752.6+0.708%Hibachi2,752.8+0.715%Ondo Perps2,752.9+0.718%Coinbase International2,752.9+0.719%Aster2,753+0.722%Orderly2,753.4+0.735%Phoenix2,753.7+0.748%
Hyperliquid2,754.4+0.773%
Derive2,754.5+0.775%Paradex2,754.5+0.777%01 Exchange2,760.7+1.004%

ETH on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bulk ETH-USD−0.665%+0.0100%1h$152.3M$275.6M25xas long as short
Injective ETH/USDC PERP−0.664%−0.0112%1h$117K$22.5M52xas long as short
Variational Omni ETH−0.441%+0.0100%8h$153.3M$295.5M—as long as short
ApeX Omni ETHUSDT−0.389%+0.0100%1h$7.6M$27.8M100xas long as short
Hotstuff ETH-PERP−0.329%−0.0080%1h$5K$1K50xas long as short
Aftermath Perps ETHUSD−0.308%+0.0251%1h$29K$34K20xas long as short
edgeX ETHUSDC−0.307%+0.0100%4h$194.9M$689.9M100xas long as short
Aevo ETH-PERP−0.121%+0.0096%1h$5.0M$757K20xas long as short
StandX ETH-USD−0.060%+0.0100%1h$21.1M$52.7M40xas long as short
Reya ETHRUSDPERP−0.048%+0.0152%1h$7.3M$973K25xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
SunX ETH-USDT−0.048%+0.0100%8h$948K$14.6M100xas long as short
Perpl ETH−0.039%0.0000%43m$205K$5.5M8.3xas long as short
OKX ETH-USDT-SWAP−0.036%+0.0018%8h$1.72B$11.07B100xas long as short
HTX ETH-USDT−0.035%+0.0100%8h$1.09B$1.20B200xas long as short
BloFin ETH-USDT−0.023%+0.0220%8h$295.3M$180.4M150xas long as short
Bullet ETH-USD−0.023%+0.0066%1h$182K$1.9M20xas long as short
Katana Perps ETH-USD−0.020%+0.0100%8h$482K$2.0M50xas long as short
Backpack ETH_USDC_PERP−0.020%+0.0100%1h$15.1M$39.0M50xas long as short
GMX ETH/USD [ETH-USDC]−0.018%L +0.0018% / S +0.0014%1h$11.9M—200xas long as short
gTrade (Gains Network) ETH/USD−0.018%L +0.0006% / S −0.0006%1h$22.2M—200xas long as short
Jupiter Perps ETH-PERP−0.017%L +0.0104% / S +0.0048%1h—$44.5M500xas long as short
Bybit ETHUSDT−0.013%+0.0100%8h$2.49B$4.42B150xas long as short
SoDEX ETH-USD−0.013%+0.0100%1h$55.5M$161.7M40xas long as short
Gate ETH_USDT−0.010%−0.0035%8h$3.72B$8.72B200xas long as short
Polymarket Perps ETH-USD−0.009%+0.0100%1h$10.8M$5.1M50xas long as short
Kalshi KXETHPERP−0.006%0.0000%8h$6.4M$509.2M4.9xas long as short
Nado ETH-PERP−0.005%+0.0100%1h$19.1M$113.6M50xas long as short
Bluefin ETH-PERP−0.004%+0.0100%1h$19K$24K25xas long as short
Phemex ETHUSDTlong0.000%+0.0037%8h$265.4M$65.8M150x
dYdX ETH-USD0.000%+0.0173%1h$20.2M$28.2M50xas long as short
Extended ETH-USD+0.002%+0.0104%1h$33.3M$74.5M50xas long as short
Vest ETH-PERP+0.004%+0.0100%1h—$1.2M50xas long as short
Pacifica ETH+0.004%+0.0100%1h$31.2M$198.0M50xas long as short
Binance ETHUSDT+0.018%+0.0100%8h$6.59B$15.23B150xas long as short
Lighter RH ETH+0.018%+0.0096%1h$25.5M$120.5M50xas long as short
KuCoin ETHUSDTM+0.020%+0.0100%8h$396.7M$677.8M100xas long as short
RISEx ETH/USDC+0.025%+0.0266%1h$5.9M$13.8M25xas long as short
BingX ETH-USDT+0.025%+0.0100%8h—$1.10B—as long as short
Arcus ETH-USD+0.026%+0.0100%1h$2.5M$15.1M25xas long as short
Lighter ETH+0.027%+0.0096%1h$119.4M$491.5M50xas long as short
MEXC ETH_USDT+0.032%+0.0100%8h$1.53B$2.43B500xas long as short
Bitget ETHUSDT+0.035%+0.0079%8h$2.13B$3.10B150xas long as short
Kraken Futures PF_ETHUSD+0.035%+0.0259%1h$86.3M$317.4M100xas long as short
Deribit ETH-PERPETUAL+0.038%+0.0161%1h$260.9M$216.9M50xas long as short
Hibachi ETH/USDT-P+0.045%+0.0248%1h$303K$1.3M20xas long as short
Ondo Perps ETH-USD.P+0.049%+0.0217%1h$3.2M$13.3M25xas long as short
Coinbase International ETH-PERP-INTX+0.049%+0.0056%1h$60.8M$4.83B50xas long as short
Aster ETHUSDT+0.052%+0.0100%8h$269.5M$836.7M200xas long as short
Orderly PERP_ETH_USDC+0.065%+0.0213%8h$32.3M$11.2M100xas long as short
Phoenix ETH+0.078%+0.0070%1h$1.4M$2.4M25xas long as short
Hyperliquid ETHshort+0.103%+0.0159%1h$3.20B$2.13B25x
Derive ETH-PERP+0.105%+0.0309%1h$42.8M$25.0M15xas long as short
Paradex ETH-USD-PERP+0.107%+0.0100%8h$14.4M$11.3M50xas long as short
01 Exchange ETHUSD+0.332%+0.0664%1h$182K$1.1M50xas long as short