Funding you earn now, next payment 02:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h −0.027%
Price spread now: Binance against Hyperliquid−0.065%7-day average −0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$190.191% of the position
Funding, last 7 days−0.065%−$6 on $10k
+Price spread, last 7 days+0.063%+$6 · spread now −0.065%, 7d avg −0.039%
=Together, before fees−0.002%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.026% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.039%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 85,856 | 0.0100 | pay 0.0013% / 1h | 51m 02s | $3.76B | $5.02B | 40x |
| Short | Binance BTCUSDT | 85,800 | 0.0082 | get 0.0082% / 8h | 6h 51m | $9.33B | $24.58B | 150x |
Hyperliquid BTC
Binance BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$3.84
- Price spread: −0.065% → −0.039%
- −$2.58
- Slippage, 4 orders
- −$0.13
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$25.55
- Costs to cover
- 0.191%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 13 min ago; Binance: live order book, 8 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 Hyperliquid live order book, 13 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.6 bp −$456 | 5.5 bp −$2,771 |
| Sell Binance live order book, 8 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 6.0 bp −$598 | 7.8 bp −$3,883 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0144% | 1h | 85,641 | −0.250% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,779 | −0.090% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,771.5 | −0.098% | $364K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0039% | 8h | 85,793.5 | −0.073% | $415.3M | $657.4M | 150x | as long as short |
| ApeX Omni BTCUSDT | −0.0008% | 1h | 85,747.6 | −0.126% | $140.2M | $320.8M | 100x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,786.3 | −0.081% | $16.8M | $20.6M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,794.1 | −0.072% | $512K | $21.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,796 | −0.070% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,810 | −0.054% | $341K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0030% | 8h | 85,798.9 | −0.067% | $497.8M | $1.13B | 200x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
ApeX Omni BTCUSDT
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XBTUSDTM | +0.0042% | 8h | 85,777.9 | −0.091% | $891.1M | $755.9M | 125x | as long as short |
| RISEx BTC/USDC | +0.0044% | 1h | 85,783 | −0.085% | $8.1M | $42.6M | 25x | as long as short |
| HTX BTC-USDT | +0.0049% | 8h | 85,768.8 | −0.102% | $2.28B | $967.7M | 200x | as long as short |
| BingX BTC-USDC | +0.0052% | 8h | 85,788.4 | −0.079% | — | $15.4M | — | as long as short |
| Reya BTCRUSDPERP | +0.0052% | 1h | 85,760.9 | −0.111% | $6.7M | $146.0M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0057% | 1h | 85,816.9 | −0.046% | $895.9M | $1.53B | 50x | as long as short |
| Bitget BTCUSDT | +0.0066% | 8h | 85,784.9 | −0.083% | $2.94B | $5.12B | 150x | as long as short |
| MEXC BTC_USDT | +0.0079% | 8h | 85,787.1 | −0.080% | $5.08B | $5.65B | 500x | as long as short |
| Gate BTC_USDT | +0.0080% | 8h | 85,793.4 | −0.073% | $5.66B | $10.35B | 200x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,775.4 | −0.094% | $2.5M | $1.8M | 20x | as long as short |
| Binance BTCUSDTshort | +0.0082% | 8h | 85,800 | −0.065% | $9.33B | $24.58B | 150x | |
| Nado BTC-PERP | +0.0085% | 1h | 85,774.3 | −0.095% | $22.5M | $228.7M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,797.5 | −0.068% | $170.8M | $976.1M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,804.3 | −0.060% | $23.3M | $145.1M | 50x | as long as short |
| GRVT BTC_USDT_Perp | +0.0096% | 8h | 85,757.5 | −0.115% | $215.4M | $162.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,780 | −0.089% | $8.4M | $52.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0097% | 1h | 85,794 | −0.072% | $60.1M | $338.1M | 40x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,756 | −0.116% | $201K | $7.4M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,779.7 | −0.089% | $3.8M | $8.8M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 85,856 | long leg | $3.76B | $5.02B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 85,787.8 | −0.079% | $40.8M | $566.3M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,811.1 | −0.052% | $5.26B | $9.80B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,813.3 | −0.050% | $2.55B | $12.55B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,770 | −0.100% | $3.9M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,766.6 | −0.104% | $7.3M | $98.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,888.3 | +0.038% | $579.3M | $92.3M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,782.8 | −0.085% | $35.2M | $162.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,782.9 | −0.085% | $155.6M | $556.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,687.9 | −0.196% | $277.7M | $941.4M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,731.7 | −0.145% | $30.3M | $206.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,823.4 | −0.038% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,770 | −0.100% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,781.9 | −0.086% | $192K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,790.6 | −0.076% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,827.2 | −0.034% | $186K | $709K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,793.9 | −0.072% | $30.0M | $57.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,706.5 | −0.174% | $2.9M | $6.6M | 100x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,800.1 | −0.065% | $153.7M | $476.2M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,773.2 | −0.096% | $45.0M | $225.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,800.1 | −0.065% | — | $101.6M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,828.4 | −0.032% | $131.7M | $5.26B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0120% | 1h | 85,813.4 | −0.050% | $707K | $8.0M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,812.4 | −0.051% | $189.5M | $969.2M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0154% | 1h | 85,819 | −0.043% | $77K | $217K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0203% | 8h | 85,806 | −0.058% | $9.9M | $768.4M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0194% | 1h | 85,787.6 | −0.080% | $13.8M | — | 200x | as long as short |
KuCoin XBTUSDTM
RISEx BTC/USDC
HTX BTC-USDT
BingX BTC-USDC
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
Bitget BTCUSDT
MEXC BTC_USDT
Gate BTC_USDT
Aevo BTC-PERP
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
GRVT BTC_USDT_Perp
Popdex BTCUSDT
SoDEX BTC-USD
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]