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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)−0.234%
7d average+0.067%if it closes, per $10,000$23funding while held, a day+$14.81
Long on Kraken FuturesShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_ETHFIUSD0.7243−0.0394get 0.0049% / 1h56m 37s$281K$169K20x
ShortHyperliquid ETHFI0.72260.0100get 0.0013% / 1h56m 37s$19.7M$7.4M5x

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
−$23.42
Funding while held
$14.81
Slippage, 4 orders
no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$27.6
Spread needed to break even
0.190%
Slippage unknown: Kraken Futures: live order book, 37 min ago; Hyperliquid: live order book, 8 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0494%
Per $10,000 a day
+$14.81
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 Kraken Futures live order book, 37 min ago15.86 bp24.8 bp −$25144.1 bp −$1,441doesn't fitdoesn't fit
Sell Hyperliquid live order book, 8 min ago1.52 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

ETHFI price on every exchange

against the cheapest. Click to use as the short leg.
Bitget0.7206cheapestBybit0.7211+0.069%OKX0.7211+0.069%BingX0.7211+0.069%Binance0.7214+0.104%MEXC0.7215+0.125%KuCoin0.7215+0.125%Paradex0.7216+0.139%HTX0.7217+0.153%Lighter0.7218+0.171%Extended0.7226+0.282%
Hyperliquid0.7226+0.283%
Aevo0.7229+0.325%Aster0.7232+0.355%Orderly0.7233+0.375%Gate0.7236+0.416%SunX0.7236+0.416%Deribit0.7236+0.416%Injective0.7240+0.472%BloFin0.7242+0.500%
Kraken Futures0.7243+0.519%
Polymarket Perps0.7243+0.519%Variational Omni0.7245+0.537%Coinbase International0.7256+0.694%

ETHFI on 24 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bitget ETHFIUSDT−0.516%−0.0036%4h$6.2M$5.5M75xas long as short
Bybit ETHFIUSDT−0.447%−0.0029%4h$18.6M$12.3M25xas long as short
OKX ETHFI-USDT-SWAP−0.447%+0.0100%4h$4.9M$12.1M20xas long as short
BingX ETHFI-USDT−0.447%+0.0100%4h—$25.7M—as long as short
Binance ETHFIUSDT−0.412%+0.0100%4h$25.4M$35.1M75xas long as short
MEXC ETHFI_USDT−0.392%+0.0100%4h$15.2M$3.6M125xas long as short
KuCoin ETHFIUSDTM−0.392%+0.0100%4h$1.2M$262K50xas long as short
Paradex ETHFI-USD-PERP−0.377%−0.0040%8h$6K—5xas long as short
HTX ETHFI-USDT−0.364%−0.0067%4h$84K$152K20xas long as short
Lighter ETHFI−0.346%+0.0096%1h$1.1M$883K5xas long as short
Show all 24 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Extended ETHFI-USD−0.235%+0.0104%1h$104K$490K10xas long as short
Hyperliquid ETHFIshort−0.234%+0.0100%1h$19.7M$7.4M5x
Aevo ETHFI-PERP−0.193%+0.0104%1h$9K—3xas long as short
Aster ETHFIUSDT−0.163%+0.0100%4h$183K$238K10xas long as short
Orderly PERP_ETHFI_USDC−0.143%−0.0135%4h$17K$1K10xas long as short
Gate ETHFI_USDT−0.102%+0.0100%4h$1.7M$2.0M75xas long as short
SunX ETHFI-USDT−0.102%+0.0100%4h$1K$1.0M20xas long as short
Deribit ETHFI_USDC-PERPETUAL−0.102%−0.0302%1h$44K$18K10xas long as short
Injective ETHFI/USDC PERP−0.046%−0.0404%1h$321$51K5.5xas long as short
BloFin ETHFI-USDT−0.019%+0.0340%4h$1.3M$297K75xas long as short
Kraken Futures PF_ETHFIUSDlong0.000%−0.0394%1h$281K$169K20x
Polymarket Perps ETHFI-USD+0.001%+0.0100%1h$49K$55K5xas long as short
Variational Omni ETHFI+0.018%−0.0105%4h$1.1M$763K—as long as short
Coinbase International ETHFI-PERP-INTX+0.174%+0.0336%1h$32K$8K50xas long as short