Funding you earn now, next payment 23:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.041%
Price spread now: BingX against Hyperliquid−0.085%7-day average −0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$190.192% of the position
Funding, last 7 days−0.098%−$10 on $10k
+Price spread, last 7 days+0.076%+$8 · spread now −0.085%, 7d avg −0.039%
=Together, before fees−0.023%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BingX is 0.046% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 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 | 86,720 | 0.0100 | pay 0.0013% / 1h | 39m 03s | $3.82B | $5.08B | 40x |
| Short | BingX BTC-USDT | 86,646.4 | 0.0032 | get 0.0032% / 8h | 1h 39m | — | $1.59B | — |
Hyperliquid BTC
BingX BTC-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$14.28
- Price spread: −0.085% → −0.039%
- −$4.57
- Slippage, 4 orders
- −$0.18
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$38.02
- Costs to cover
- 0.192%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 5 min ago; BingX: live order book, 15 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, 5 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.7 bp −$474 | 5.7 bp −$2,868 |
| Sell BingX live order book, 15 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.0 bp −$501 | 5.0 bp −$2,511 |
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 | −0.0874% | 1h | 86,654.1 | −0.076% | $141K | $618K | 40x | as long as short |
| Aftermath Perps BTCUSD | −0.0163% | 1h | 86,650.5 | −0.080% | $83K | $206K | 20x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,688 | −0.037% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,631 | −0.103% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0011% | 1h | 86,679.3 | −0.047% | $17.5M | $20.3M | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,651 | −0.080% | $359K | $2.4M | 50x | as long as short |
| Aster BTCUSDT | −0.0007% | 8h | 86,640 | −0.092% | $505.6M | $1.15B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,669.8 | −0.058% | $419K | $23.9M | 6.7x | as long as short |
| KuCoin XBTUSDTM | +0.0001% | 8h | 86,621.8 | −0.113% | $852.0M | $707.5M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,657.7 | −0.072% | $36.9M | — | 200x | as long as short |
Bluefin BTC-PERP
Aftermath Perps BTCUSD
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BTC-PERPETUAL | +0.0005% | 1h | 86,672.4 | −0.055% | $925.6M | $1.47B | 50x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,632.4 | −0.101% | $8.6M | $43.2M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,631.6 | −0.102% | $6.7M | $144.8M | 40x | as long as short |
| Phemex BTCUSDT | +0.0023% | 8h | 86,634.4 | −0.099% | $150.1M | $473.5M | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | −0.186% | $315K | $26.8M | 52x | as long as short |
| BingX BTC-USDTshort | +0.0032% | 8h | 86,646.4 | −0.085% | — | $1.59B | — | |
| Hibachi BTC/USDT-P | +0.0032% | 1h | 86,713.3 | −0.008% | $733K | $8.2M | 30x | as long as short |
| Bitget BTCUSDT | +0.0042% | 8h | 86,645 | −0.086% | $2.96B | $5.07B | 150x | as long as short |
| MEXC BTC_USDT | +0.0061% | 8h | 86,645.4 | −0.086% | $5.19B | $5.64B | 500x | as long as short |
| Binance BTCUSDT | +0.0061% | 8h | 86,645.6 | −0.086% | $9.43B | $24.31B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,625.1 | −0.109% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0080% | 8h | 86,634.7 | −0.098% | $5.86B | $10.64B | 200x | as long as short |
| Bybit BTCUSDT | +0.0090% | 8h | 86,645.4 | −0.086% | $5.28B | $9.69B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,653.7 | −0.076% | $172.2M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,659.4 | −0.070% | $24.1M | $151.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,630 | −0.104% | $8.5M | $52.2M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,616 | −0.120% | $206K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,695.7 | −0.028% | $4.8M | $8.4M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,652.4 | −0.078% | $21.8M | $233.3M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 86,720 | long leg | $3.82B | $5.08B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,680.1 | −0.046% | $41.1M | $505.2M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,651.4 | −0.079% | $2.55B | $12.70B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,632 | −0.101% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,701.4 | −0.021% | $7.4M | $93.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,703.1 | −0.020% | $573.0M | $18.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,633.8 | −0.099% | $38.4M | $153.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,696.3 | −0.027% | $156.8M | $565.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,683.8 | −0.042% | $280.1M | $943.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,681.9 | −0.044% | $217.5M | $175.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,693.4 | −0.031% | $141.7M | $323.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,679.7 | −0.046% | $30.8M | $203.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,694.1 | −0.030% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,635 | −0.098% | $11.1M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,634.2 | −0.099% | $193K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,639.4 | −0.093% | $2.5M | $8.6M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,633.7 | −0.100% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,629.4 | −0.104% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,634 | −0.099% | $60.5M | $337.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,630.5 | −0.103% | $2.30B | $964.0M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,619.7 | −0.116% | $46.3M | $225.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,673.1 | −0.054% | — | $98.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,686 | −0.039% | $131.7M | $5.72B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,675.7 | −0.051% | $191.8M | $936.8M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0208% | 1h | 86,647.2 | −0.084% | $15.1M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,634.4 | −0.099% | $415.3M | $652.1M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0193% | 8h | 86,676 | −0.051% | $9.6M | $727.5M | 6.4x | as long as short |
Deribit BTC-PERPETUAL
RISEx BTC/USDC
Reya BTCRUSDPERP
Phemex BTCUSDT
Injective BTC/USDC PERP
Hibachi BTC/USDT-P
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-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