Research Lab

CrossEx Arb Flow Tracker

Arb starts · 7d

13

53 in 30d · fresh positions only

Adds · 30d

17

starts + adds matched ≈ $7.56M

Observed wallets · 30d

45

31 first observed start in window

Leg skew · 30d

12s

median · p90 1.7h

Weekly arb opens

count + est. matched USD·UTC weeks·since 2026-01-17

Arb routes

last 30d · sell-rich opens

Asset	Long · pay fixed	Short · recv fixed	Opens	Wallets	Matched YU	Est. USD	Med. entry IY gap
ETH	OKX	Hyperliquid	24	14	2.6K	$4.97M	+4.25pp
HYPE	Bybit	Hyperliquid	16	16	463.3K	$463.27K	+5.35pp
ETH	Binance	Hyperliquid	13	13	105	$197.90K	+2.82pp
ETH	Gate	Hyperliquid	5	5	46.2	$87.42K	+3.25pp
BTC	Gate	Hyperliquid	4	3	1.6	$101.90K	+2.76pp
ETH	OKX	Lighter	2	2	73.5	$140.42K	+5.46pp
ETH	Lighter	Hyperliquid	2	2	3.5	$6.60K	+1.30pp
BTC	KuCoin	Hyperliquid	1	1	9.9	$639.87K	+5.01pp
BTC	OKX	Hyperliquid	1	1	9.4	$616.93K	+4.15pp
ETH	OKX	KuCoin	1	1	175	$338.43K	+2.91pp
ETH	Binance	Lighter	1	1	2.8	$5.16K	+3.91pp

Recent arb activity

latest 20 of 398 all-time · opens & unwinds

First leg	Wallet	Asset	Expiry	Long · pay fixed	Short · recv fixed	Type	Matched	Est. USD	Leg skew	IY gap
5h ago	0xe565...8cc1	ETH	25 Sept 2026	Gate3.71%	Hyperliquid

Most active observed wallets

last 90d · ranked by sell-rich opens

Wallet	Opens	Starts	Assets	Est. USD matched	First	Latest
0xf2ea...6bc0	10	10	1	$595.65K	2026-06-08	2026-08-03
0x790c...5454	9	5	1	$1.32M	2026-05-26	2026-08-07
0x9d1a...2958

Same-wallet, same-day, ≥90%-matched opposite Boros legs across same-asset, same-expiry venues; hourly IY sets direction, USD uses canonical valuation, and unseen exchange legs make this evidence rather than confirmed CrossEx use. CrossEx-Boros tool ↗