Research Lab

CrossEx Arb Flow Tracker

Arb starts · 7d

23

176 in 30d · fresh positions only

Adds · 30d

36

starts + adds matched ≈ $11.37M

Observed wallets · 30d

130

114 first observed start in window

Leg skew · 30d

0s

median · p90 89s

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
BTC	Gate	Hyperliquid	91	70	44.6	$3.50M	+3.47pp
ETH	Gate	Hyperliquid	67	49	2.7K	$6.66M	+3.23pp
ETH	Binance	Hyperliquid	14	14	180	$434.73K	+2.64pp
HYPE	Gate	Hyperliquid	12	12	82.7K	$82.66K	+5.11pp
HYPE	Bybit	Hyperliquid	10	8	150.2K	$150.19K	+5.08pp
ETH	OKX	Hyperliquid	5	5	162	$357.57K	+3.13pp
ETH	KuCoin	Hyperliquid	4	4	32.2	$79.40K	+4.19pp
BTC	KuCoin	Hyperliquid	2	2	0.42	$32.24K	+5.47pp
BTC	OKX	Hyperliquid	2	2	0.41	$31.87K	+2.80pp
BTC	KuCoin	Binance	1	1	0.23	$15.90K	+1.42pp
ETH	KuCoin	Lighter	1	1	4.8	$12.19K	+4.59pp
ETH	Lighter	Hyperliquid	1	1	3.5	$6.51K	+1.11pp
ETH	Gate	Lighter	1	1	2.3	$5.83K	+3.29pp
ETH	OKX	Lighter	1	1	0.0094	$23.22	+2.27pp

Recent arb activity

latest 20 of 636 all-time · opens & unwinds

First leg	Wallet	Asset	Expiry	Long · pay fixed	Short · recv fixed	Type	Matched	Est. USD	Leg skew	IY gap
1h ago	0xf130...1691	BTC	25 Sept 2026	Gate4.44%	Hyperliquid

Largest observed wallets

last 90d · ranked by est. USD matched

Wallet	Opens	Starts	Assets	Est. USD matched	First	Latest
0x87ca...a9d0	12	7	3	$5.61M	2026-07-01	2026-09-10
0x72b0...b61f	9	3	2	$5.04M	2026-08-26	2026-09-07
0xc569...9537

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. Arbitrage with CrossEx ↗