Funding you earn now, next payment 23:00 UTC+0.0452%/8h= +49.4% APRnext payment +$0.56 per $10,000 · paid last 24h +0.038%
Price spread now: Backpack against Hyperliquid+0.043%7-day average −0.072% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.011%+$1 on $10k
+Price spread, last 4 days (all we have)−0.174%−$17 · spread now +0.043%, 7d avg −0.072%
=Together, before fees−0.162%+ Points / potential airdropHyperliquid: Season 2 · farm board−$16 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Backpack is 0.115% dearer against Hyperliquid than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.072%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.011% in total (about 0.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.56 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 | Hyperliquid AERO | 0.6905 | 0.0100 | pay 0.0013% / 1h | 2m 25s | $23.2M | $5.3M | 3x |
| Short | Backpack AERO_USDC_PERP | 0.6908 | 0.0552 | get 0.0069% / 1h | 2m 25s | $102K | $312K | 15x |
Hyperliquid AERO
Backpack AERO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Hyperliquid. 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
- $94.83
- Price spread: +0.043% → −0.072%
- $11.54
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $87.37
- Costs to cover
- 0.190%
- Break-even
- 0.6 days
Slippage unknown: Hyperliquid: live order book, 11 min ago; Backpack: live order book, 16 min ago. Net counts fees only.
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 Hyperliquid live order book, 11 min ago | 1.23 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 16 min ago | 0.36 bp | 6.1 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
AERO on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit AERO_USDC-PERPETUAL | 0.0000% | 1h | 0.6899 | −0.088% | $55K | $11K | 10x | as long as short |
| Hyperliquid AEROlong | +0.0100% | 1h | 0.6905 | long leg | $23.2M | $5.3M | 3x | |
| Aster AEROUSDT | +0.0100% | 4h | 0.6900 | −0.075% | $39K | $109K | 10x | as long as short |
| Binance AEROUSDT | +0.0100% | 4h | 0.6900 | −0.074% | $25.6M | $25.3M | 75x | as long as short |
| Bybit AEROUSDT | +0.0100% | 4h | 0.6900 | −0.074% | $22.0M | $20.4M | 25x | as long as short |
| OKX AERO-USDT-SWAP | +0.0100% | 4h | 0.6904 | −0.016% | $2.3M | $6.8M | 20x | as long as short |
| Gate AERO_USDT | +0.0100% | 4h | 0.6899 | −0.088% | $1.6M | $533K | 75x | as long as short |
| MEXC AERO_USDT | +0.0100% | 4h | 0.6902 | −0.045% | $8.2M | $1.7M | 100x | as long as short |
| KuCoin AEROUSDTM | +0.0100% | 4h | 0.6900 | −0.074% | $2.1M | $904K | 50x | as long as short |
| Bitget AEROUSDT | +0.0100% | 4h | 0.6898 | −0.103% | $4.1M | $2.1M | 75x | as long as short |
Deribit AERO_USDC-PERPETUAL
Aster AEROUSDT
Binance AEROUSDT
Bybit AEROUSDT
OKX AERO-USDT-SWAP
Gate AERO_USDT
MEXC AERO_USDT
KuCoin AEROUSDTM
Bitget AEROUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX AERO-USDT | +0.0100% | 4h | 0.6902 | −0.045% | — | $1.8M | — | as long as short |
| Variational Omni AERO | +0.0100% | 4h | 0.6896 | −0.131% | $1.9M | $1.7M | — | as long as short |
| Extended AERO-USD | +0.0104% | 1h | 0.6898 | −0.097% | $202K | $1.3M | 10x | as long as short |
| Aevo AERO-PERP | +0.0104% | 1h | 0.6895 | −0.139% | $46K | — | 3x | as long as short |
| Injective AERO/USDC PERP | +0.0175% | 1h | 0.6902 | −0.045% | $4 | $209K | 5.5x | as long as short |
| Reya AERORUSDPERP | +0.0228% | 1h | 0.6899 | −0.087% | $19K | $4K | 15x | as long as short |
| 01 Exchange AEROUSD | +0.0232% | 1h | 0.6906 | +0.016% | $187 | $115 | 3x | as long as short |
| BloFin AERO-USDT | +0.0340% | 4h | 0.6903 | −0.030% | $914K | $695K | 25x | as long as short |
| GMX AERO/USD [ETH-USDC] | L +0.0502% / S −0.0223% | 1h | 0.6900 | −0.074% | $92K | — | 100x | as long as short |
| Backpack AERO_USDC_PERPshort | +0.0552% | 1h | 0.6908 | +0.043% | $102K | $312K | 15x | |
| RISEx AERO/USDC | +0.0676% | 1h | 0.6904 | −0.017% | $218K | $369K | 3x | as long as short |
| Coinbase International AERO-PERP-INTX | +0.0736% | 1h | 0.6911 | +0.085% | $92K | $32K | 25x | as long as short |
| Lighter AERO | +0.0904% | 1h | 0.6917 | +0.169% | $1.3M | $464K | 3x | as long as short |
BingX AERO-USDT
Variational Omni AERO
Extended AERO-USD
Aevo AERO-PERP
Injective AERO/USDC PERP
Reya AERORUSDPERP
01 Exchange AEROUSD
BloFin AERO-USDT
GMX AERO/USD [ETH-USDC]
RISEx AERO/USDC
Coinbase International AERO-PERP-INTX
Lighter AERO