Funding you earn now, next payment 03:00 UTC−0.0433%/8h= −47.5% APRnext payment −$0.54 per $10,000 · paid last 24h −0.058%
Price spread now: Hyperliquid against Deribit+0.141%7-day average −0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$280.281% of the position
Funding, last 7 days−0.185%−$19 on $10k
+Price spread, last 4 days (all we have)−0.420%−$42 · spread now +0.141%, 7d avg −0.032%
=Together, before fees−0.605%+ Points / potential airdropHyperliquid: Season 2 · farm board−$60 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.173% dearer against Deribit than usual: you sell high and buy low (spread +0.141% now, against its 7-day average of −0.032%): +$17 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 32 hours. At the pace of the last 7 days (−0.185% in total) that is about 6.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.185% in total (about -9.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.54 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit ADA_USDC-PERPETUAL | 0.2486 | 0.0555 | pay 0.0069% / 1h | 22m 36s | $587K | $443K | 50x |
| Short | Hyperliquid ADA | 0.2490 | 0.0122 | get 0.0015% / 1h | 22m 36s | $43.3M | $14.4M | 10x |
Deribit ADA_USDC-PERPETUAL
Hyperliquid ADAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$91.03
- Price spread: +0.141% → −0.032%
- $17.3
- Slippage, 4 orders
- −$12.1
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$101.83
- Costs to cover
- 0.281%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 41 min ago; Hyperliquid: live order book, 11 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Deribit live order book, 41 min ago | 1.63 bp | 5.1 bp −$5 | 12.5 bp −$125 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.61 bp | 7.4 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
ADA on 37 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ADA-USD | 0.0000% | 1h | 0.2489 | +0.101% | $205K | $3K | 10x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2484 | −0.083% | $85K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | −0.603% | $849 | $202K | 12x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0056% | 1h | 0.2484 | −0.080% | $418K | $7.7M | 50x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2490 | +0.147% | $1.2M | $998K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2490 | +0.174% | $160K | $161K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2491 | +0.201% | $105.6M | $370.0M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2492 | +0.241% | $73.0M | $109.5M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2494 | +0.322% | $33.2M | $107.1M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2491 | +0.201% | $99.8M | $60.0M | 75x | as long as short |
dYdX ADA-USD
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Coinbase International ADA-PERP-INTX
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ADA_USDT | +0.0100% | 8h | 0.2492 | +0.241% | $56.1M | $59.4M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2490 | +0.161% | $29.9M | $16.0M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2491 | +0.201% | $66.8M | $48.9M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2491 | +0.201% | — | $20.1M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2485 | −0.028% | $135K | $429K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2474 | −0.483% | $4.3M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2479 | −0.286% | $66K | $283K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2472 | −0.569% | $293K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2480 | −0.241% | $229K | $735K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2484 | −0.072% | $97K | $676K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2485 | −0.040% | $6K | $6K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2485 | −0.026% | $40K | $2K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2486 | 0.000% | $9K | $744K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2485 | −0.040% | $342 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2483 | −0.104% | $1.3M | $6.2M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2486 | 0.000% | $48.4M | $6.3M | 50x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2491 | +0.215% | $539K | $1.8M | 50x | as long as short |
| Kalshi KXADAPERP | +0.0105% | 8h | 0.2484 | −0.080% | $148K | $6.3M | 3.2x | as long as short |
| Paradex ADA-USD-PERP | +0.0110% | 8h | 0.2493 | +0.287% | $21K | $250 | 20x | as long as short |
| Hyperliquid ADAshort | +0.0122% | 1h | 0.2490 | +0.141% | $43.3M | $14.4M | 10x | |
| Phoenix ADA | +0.0163% | 1h | 0.2480 | −0.225% | $4K | $90K | 10x | as long as short |
| Lighter ADA | +0.0192% | 1h | 0.2490 | +0.149% | $2.5M | $1.1M | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2486 | 0.000% | $4.6M | $5.8M | 75x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0258% | 1h | 0.2485 | −0.056% | $6.4M | $12.5M | 50x | as long as short |
| Reya ADARUSDPERP | +0.0280% | 1h | 0.2484 | −0.061% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0418% / S −0.0202% | 1h | 0.2484 | −0.081% | $96K | — | 100x | as long as short |
| Deribit ADA_USDC-PERPETUALlong | +0.0555% | 1h | 0.2486 | long leg | $587K | $443K | 50x |
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Extended ADA-USD
Kalshi KXADAPERP
Paradex ADA-USD-PERP
Phoenix ADA
Lighter ADA
BloFin ADA-USDT
Kraken Futures PF_ADAUSD
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]