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Price arb /

ETHFI

all ETHFI markets
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Spread before costs (cost unknown: a leg has no order-book sample)−0.252%
7d average+0.007%if it closes, per $10,000$25funding while held, a day−$9.37
Long on HyperliquidShort on Lighter
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid ETHFI0.73470.0488pay 0.0061% / 1h31m 30s$20.4M$7.3M5x
ShortLighter ETHFI0.73290.0176get 0.0022% / 1h31m 30s$1.3M$557K5x

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
−$25.18
Funding while held
−$9.37
Slippage, 4 orders
no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Lighter: 0 bp × 2 orders
$0
Net
−$43.55
Spread needed to break even
0.090%
Slippage unknown: Hyperliquid: live order book, 3 min ago; Lighter: live order book, 6 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0312%
Per $10,000 a day
−$9.37
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 Hyperliquid live order book, 3 min ago0.48 bp9.1 bp −$9doesn't fitdoesn't fitdoesn't fit
Sell Lighter live order book, 6 min ago4.42 bp9.8 bp −$1068.5 bp −$685doesn't fitdoesn't fit

ETHFI price on every exchange

against the cheapest. Click to use as the short leg.
HTX0.7294cheapestBloFin0.7296+0.027%Aevo0.7305+0.151%Orderly0.7306+0.165%Deribit0.7310+0.219%SunX0.7314+0.274%Aster0.7316+0.298%Kraken Futures0.7318+0.335%Gate0.7321+0.370%BingX0.7321+0.370%Paradex0.7322+0.382%Extended0.7322+0.383%KuCoin0.7322+0.384%MEXC0.7323+0.398%Bitget0.7324+0.411%Binance0.7326+0.439%Bybit0.7326+0.439%Variational Omni0.7326+0.441%
Lighter0.7329+0.477%
OKX0.7329+0.480%Coinbase International0.7339+0.617%Polymarket Perps0.7341+0.639%
Hyperliquid0.7347+0.731%
Injective0.7441+2.015%

ETHFI on 24 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
HTX ETHFI-USDT−0.725%−0.0164%4h$84K$160K20xas long as short
BloFin ETHFI-USDT−0.698%+0.0340%4h$1.4M$292K75xas long as short
Aevo ETHFI-PERP−0.576%+0.0104%1h$9K—3xas long as short
Orderly PERP_ETHFI_USDC−0.562%−0.0114%4h$17K$1K10xas long as short
Deribit ETHFI_USDC-PERPETUAL−0.508%−0.0297%1h$45K$18K10xas long as short
SunX ETHFI-USDT−0.453%+0.0100%4h$1K$1.0M20xas long as short
Aster ETHFIUSDT−0.429%+0.0100%4h$187K$251K10xas long as short
Kraken Futures PF_ETHFIUSD−0.393%−0.0288%1h$282K$184K20xas long as short
Gate ETHFI_USDT−0.358%+0.0100%4h$1.8M$1.9M75xas long as short
BingX ETHFI-USDT−0.358%+0.0100%4h—$26.0M—as long as short
Show all 24 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Paradex ETHFI-USD-PERP−0.346%+0.0016%8h$6K—5xas long as short
Extended ETHFI-USD−0.345%+0.0104%1h$109K$490K10xas long as short
KuCoin ETHFIUSDTM−0.344%+0.0100%4h$1.2M$275K50xas long as short
MEXC ETHFI_USDT−0.331%+0.0100%4h$15.7M$4.0M125xas long as short
Bitget ETHFIUSDT−0.317%+0.0100%4h$6.3M$5.7M75xas long as short
Binance ETHFIUSDT−0.290%+0.0100%4h$25.9M$36.2M75xas long as short
Bybit ETHFIUSDT−0.290%+0.0100%4h$19.0M$13.0M25xas long as short
Variational Omni ETHFI−0.288%+0.0100%4h$1.1M$841K—as long as short
Lighter ETHFIshort−0.252%+0.0176%1h$1.3M$557K5x
OKX ETHFI-USDT-SWAP−0.249%0.0000%4h$5.0M$12.3M20xas long as short
Coinbase International ETHFI-PERP-INTX−0.113%+0.0288%1h$32K$56K50xas long as short
Polymarket Perps ETHFI-USD−0.091%+0.0100%1h$48K$52K5xas long as short
Hyperliquid ETHFIlong0.000%+0.0488%1h$20.4M$7.3M5x
Injective ETHFI/USDC PERP+1.275%+0.0033%1h$330$56K5.5xas long as short