data as of
Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Price arb /

ETH

all ETH markets
SwapFunding view
Alert
My alerts

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−$8
spread now+0.034%7d average−0.064%fees + slippage, in and out−$17spread needed0.175%
Long on PhoenixShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix ETH2,732.70.0050pay 0.0006% / 1h27m 50s$1.4M$2.4M25x
ShortHyperliquid ETH2,733.60.0307get 0.0038% / 1h27m 50s$3.26B$2.17B25x

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
$3.37
Funding while held
$7.73
Slippage, 4 orders
−$1.45
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$6.36
Spread needed to break even
0.175%
Slippage from Phoenix: live order book, 2 min ago; Hyperliquid: live order book, 8 min ago.

Cost of waiting

funding view
Funding /8h
+0.0258%
Per $10,000 a day
+$7.73
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 Phoenix live order book, 2 min ago0.18 bp4.1 bp −$47.3 bp −$7320.7 bp −$2,065doesn't fit
Sell Hyperliquid live order book, 8 min ago0.18 bp4.7 bp −$54.7 bp −$474.7 bp −$4684.7 bp −$2,341

ETH price on every exchange

against the cheapest. Click to use as the short leg.
Extended2,728cheapestInjective2,728.7+0.026%Backpack2,728.8+0.029%MEXC2,728.8+0.029%OKX2,728.9+0.033%Bitget2,729+0.038%Gate2,729.1+0.039%KuCoin2,729.1+0.040%Aevo2,729.1+0.040%BingX2,729.1+0.040%Binance2,729.1+0.040%Bybit2,729.1+0.040%HTX2,729.2+0.043%SoDEX2,729.4+0.052%SunX2,729.4+0.053%Phemex2,729.6+0.061%Lighter2,729.9+0.069%Aster2,730.1+0.079%Bullet2,730.8+0.102%edgeX2,730.9+0.108%Katana Perps2,731.1+0.114%Kraken Futures2,731.1+0.116%Reya2,731.2+0.117%Bluefin2,731.3+0.121%Lighter RH2,731.3+0.122%gTrade (Gains Network)2,731.5+0.128%Coinbase International2,731.6+0.131%01 Exchange2,731.6+0.133%ApeX Omni2,731.7+0.135%Deribit2,731.8+0.138%GMX2,731.8+0.139%RISEx2,731.8+0.140%Perpl2,732+0.146%Variational Omni2,732+0.146%Ondo Perps2,732+0.147%Arcus2,732.2+0.154%Hibachi2,732.3+0.159%Polymarket Perps2,732.5+0.165%Vest2,732.6+0.170%
Phoenix2,732.7+0.173%
Orderly2,733.1+0.187%
Hyperliquid2,733.6+0.207%
Nado2,733.7+0.208%BloFin2,733.9+0.216%Bulk2,733.9+0.217%dYdX2,734+0.220%Pacifica2,734+0.221%Kalshi2,734.4+0.235%Aftermath Perps2,734.6+0.241%StandX2,734.8+0.250%Derive2,734.8+0.251%Jupiter Perps2,735.5+0.277%Paradex2,735.6+0.278%Hotstuff2,735.7+0.283%

ETH on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Extended ETH-USD−0.173%+0.0104%1h$32.4M$75.2M50xas long as short
Injective ETH/USDC PERP−0.146%+0.0067%1h$117K$22.5M52xas long as short
Backpack ETH_USDC_PERP−0.144%+0.0100%1h$14.9M$39.7M50xas long as short
MEXC ETH_USDT−0.143%+0.0095%8h$1.52B$2.45B500xas long as short
OKX ETH-USDT-SWAP−0.140%+0.0016%8h$1.71B$10.97B100xas long as short
Bitget ETHUSDT−0.135%+0.0067%8h$2.12B$3.09B150xas long as short
Gate ETH_USDT−0.134%−0.0046%8h$3.71B$8.64B200xas long as short
KuCoin ETHUSDTM−0.133%+0.0100%8h$439.7M$664.4M100xas long as short
Aevo ETH-PERP−0.133%+0.0096%1h$5.0M$738K20xas long as short
BingX ETH-USDT−0.132%+0.0100%8h—$1.09B—as long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Binance ETHUSDT−0.132%+0.0095%8h$6.51B$15.33B150xas long as short
Bybit ETHUSDT−0.132%+0.0100%8h$2.46B$4.39B150xas long as short
HTX ETH-USDT−0.130%+0.0092%8h$1.08B$1.19B200xas long as short
SoDEX ETH-USD−0.121%−0.0027%1h$55.1M$161.5M40xas long as short
SunX ETH-USDT−0.119%+0.0100%8h$940K$14.6M100xas long as short
Phemex ETHUSDT−0.112%+0.0050%8h$264.1M$66.4M150xas long as short
Lighter ETH−0.104%+0.0096%1h$118.3M$497.0M50xas long as short
Aster ETHUSDT−0.094%+0.0100%8h$267.8M$843.9M200xas long as short
Bullet ETH-USD−0.071%+0.0010%1h$187K$1.9M20xas long as short
edgeX ETHUSDC−0.064%+0.0100%4h$175.2M$745.8M100xas long as short
Katana Perps ETH-USD−0.059%+0.0100%8h$472K$2.0M50xas long as short
Kraken Futures PF_ETHUSD−0.057%+0.0351%1h$87.6M$314.3M100xas long as short
Reya ETHRUSDPERP−0.056%+0.0158%1h$7.3M$972K25xas long as short
Bluefin ETH-PERP−0.052%+0.0100%1h$21K$26K25xas long as short
Lighter RH ETH−0.051%+0.0096%1h$25.2M$118.3M50xas long as short
gTrade (Gains Network) ETH/USD−0.045%L +0.0006% / S −0.0006%1h$22.1M—200xas long as short
Coinbase International ETH-PERP-INTX−0.042%+0.0088%1h$60.1M$4.77B50xas long as short
01 Exchange ETHUSD−0.040%+0.0024%1h$188K$1.1M50xas long as short
ApeX Omni ETHUSDT−0.037%−0.0039%1h$7.7M$27.6M100xas long as short
Deribit ETH-PERPETUAL−0.034%+0.0127%1h$260.8M$213.4M50xas long as short
GMX ETH/USD [ETH-USDC]−0.034%L +0.0018% / S +0.0013%1h$11.8M—200xas long as short
RISEx ETH/USDC−0.032%+0.0171%1h$5.8M$13.4M25xas long as short
Perpl ETH−0.027%0.0000%43m$403K$5.9M8.3xas long as short
Variational Omni ETH−0.027%+0.0100%8h$151.5M$300.7M—as long as short
Ondo Perps ETH-USD.P−0.026%+0.0100%1h$3.0M$13.5M25xas long as short
Arcus ETH-USD−0.019%+0.0100%1h$2.5M$15.4M25xas long as short
Hibachi ETH/USDT-P−0.014%+0.0152%1h$291K$1.3M20xas long as short
Polymarket Perps ETH-USD−0.007%+0.0100%1h$10.7M$5.3M50xas long as short
Vest ETH-PERP−0.003%+0.0100%1h—$1.2M50xas long as short
Phoenix ETHlong0.000%+0.0050%1h$1.4M$2.4M25x
Orderly PERP_ETH_USDC+0.014%+0.0210%8h$32.1M$10.8M100xas long as short
Hyperliquid ETHshort+0.034%+0.0307%1h$3.26B$2.17B25x
Nado ETH-PERP+0.035%+0.0100%1h$17.7M$112.9M50xas long as short
BloFin ETH-USDT+0.043%+0.0216%8h$296.1M$174.1M150xas long as short
Bulk ETH-USD+0.044%+0.0100%1h$152.0M$271.2M25xas long as short
dYdX ETH-USD+0.048%+0.0129%1h$16.1M$32.7M50xas long as short
Pacifica ETH+0.048%+0.0100%1h$30.9M$207.9M50xas long as short
Kalshi KXETHPERP+0.062%0.0000%8h$7.0M$532.0M4.9xas long as short
Aftermath Perps ETHUSD+0.068%+0.0276%1h$29K$27K20xas long as short
StandX ETH-USD+0.077%+0.0100%1h$20.9M$51.4M40xas long as short
Derive ETH-PERP+0.078%+0.0459%1h$42.8M$27.2M15xas long as short
Jupiter Perps ETH-PERP+0.104%L +0.0096% / S +0.0048%1h—$44.8M500xas long as short
Paradex ETH-USD-PERP+0.105%+0.0100%8h$14.3M$11.5M50xas long as short
Hotstuff ETH-PERP+0.110%−0.0080%1h$5K$2K50xas long as short