Funding you earn now, next payment 23:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.074%
Price spread now: Hyperliquid against Hotstuff+0.045%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHotstuff: Active · Hyperliquid: Season 2 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hyperliquid is 0.045% dearer against Hotstuff than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff BTC-PERP | 86,702 | −0.0080 | get 0.0010% / 1h | 41m 05s | $9K | $3K | 50x |
| Short | Hyperliquid BTC | 86,741 | 0.0100 | get 0.0013% / 1h | 41m 05s | $3.82B | $5.10B | 40x |
Hotstuff BTC-PERP
Hyperliquid BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Hotstuff. 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
- $37.8
- Price spread: +0.045% → 0.000%
- $4.5
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $28.3
- Costs to cover
- 0.140%
- Break-even
- 1.8 days
Slippage unknown: Hotstuff: no order-book sample; Hyperliquid: live order book, 13 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 Hotstuff no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 13 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 5.0 bp −$495 | doesn't fit |
Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.1024% | 1h | 86,680.9 | −0.024% | $141K | $618K | 40x | as long as short |
| Aftermath Perps BTCUSD | −0.0170% | 1h | 86,630.8 | −0.082% | $79K | $199K | 20x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,603 | −0.114% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERPlong | −0.0080% | 1h | 86,702 | long leg | $9K | $3K | 50x | |
| dYdX BTC-USD | −0.0013% | 1h | 86,734 | +0.037% | $17.5M | $20.3M | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,702.7 | +0.001% | $359K | $2.4M | 50x | as long as short |
| Aster BTCUSDT | −0.0006% | 8h | 86,668.1 | −0.039% | $505.9M | $1.15B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,703.6 | +0.002% | $419K | $24.0M | 6.7x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,699.6 | −0.003% | $925.8M | $1.47B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0001% | 8h | 86,652.1 | −0.058% | $852.1M | $707.7M | 125x | as long as short |
Bluefin BTC-PERP
Aftermath Perps BTCUSD
Phoenix BTC
dYdX BTC-USD
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
Deribit BTC-PERPETUAL
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,697.6 | −0.005% | $36.9M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,703.7 | +0.002% | $8.6M | $43.2M | 25x | as long as short |
| Phemex BTCUSDT | +0.0021% | 8h | 86,666.5 | −0.041% | $150.0M | $473.4M | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,668.8 | −0.038% | $6.7M | $144.8M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | −0.165% | $315K | $26.8M | 52x | as long as short |
| Hibachi BTC/USDT-P | +0.0024% | 1h | 86,651.1 | −0.059% | $732K | $8.1M | 30x | as long as short |
| BingX BTC-USDT | +0.0032% | 8h | 86,677.3 | −0.028% | — | $1.59B | — | as long as short |
| Bitget BTCUSDT | +0.0041% | 8h | 86,677.3 | −0.028% | $2.96B | $5.07B | 150x | as long as short |
| MEXC BTC_USDT | +0.0060% | 8h | 86,663.6 | −0.044% | $5.19B | $5.63B | 500x | as long as short |
| Binance BTCUSDT | +0.0061% | 8h | 86,675.6 | −0.030% | $9.44B | $24.31B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,650.6 | −0.059% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0081% | 8h | 86,674.1 | −0.032% | $5.86B | $10.64B | 200x | as long as short |
| Bybit BTCUSDT | +0.0090% | 8h | 86,676.2 | −0.030% | $5.28B | $9.69B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,677.8 | −0.028% | $172.1M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,689.1 | −0.015% | $24.1M | $151.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,681 | −0.024% | $8.5M | $52.1M | 100x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,717.2 | +0.017% | $21.9M | $233.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,687 | −0.017% | $206K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,745 | +0.050% | $4.8M | $8.3M | 50x | as long as short |
| Hyperliquid BTCshort | +0.0100% | 1h | 86,741 | +0.045% | $3.82B | $5.10B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,739.1 | +0.043% | $40.9M | $504.7M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,681.7 | −0.023% | $2.55B | $12.70B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,714 | +0.014% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,776 | +0.085% | $7.4M | $93.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,703.1 | +0.001% | $573.0M | $18.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,659.6 | −0.049% | $38.4M | $153.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,560.2 | −0.164% | $156.7M | $569.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,606.7 | −0.110% | $279.8M | $943.1M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,610.1 | −0.106% | $217.3M | $177.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,623.7 | −0.090% | $141.6M | $323.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,664 | −0.044% | $30.7M | $203.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,729 | +0.031% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,682 | −0.023% | $11.1M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,682.6 | −0.022% | $195K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,663.6 | −0.044% | $2.5M | $8.6M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,655.8 | −0.053% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,689 | −0.015% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,666 | −0.042% | $60.6M | $336.9M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,663.2 | −0.045% | $2.30B | $963.9M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,646.5 | −0.064% | $46.3M | $225.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,725.4 | +0.027% | — | $98.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,707.3 | +0.006% | $131.8M | $5.73B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,698.4 | −0.004% | $191.8M | $936.9M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0208% | 1h | 86,692 | −0.011% | $15.1M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,665.7 | −0.042% | $415.5M | $652.4M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0193% | 8h | 86,719 | +0.020% | $9.5M | $727.1M | 6.4x | as long as short |
gTrade (Gains Network) BTC/USD
RISEx BTC/USDC
Phemex BTCUSDT
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Hibachi BTC/USDT-P
BingX BTC-USDT
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Nado BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Kalshi KXBTCPERP