Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%
Price spread now: Derive against Hyperliquid−0.098%7-day average −0.078% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.103%−$10 on $10k
+Price spread, last 3 days (all we have)−0.026%−$3 · spread now −0.098%, 7d avg −0.078%
=Together, before fees−0.129%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.020% cheaper against Hyperliquid than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.078%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 86,741 | 0.0100 | pay 0.0013% / 1h | 40m 59s | $3.82B | $5.10B | 40x |
| Short | Derive BTC-PERP | 86,655.8 | 0.0100 | get 0.0013% / 1h | 40m 59s | $30.0M | $61.6M | 15x |
Hyperliquid BTC
Derive BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive 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
- $0
- Price spread: −0.098% → −0.078%
- −$2
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$17
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 13 min ago; Derive: no order-book sample. 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, 13 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 5.5 bp −$547 | doesn't fit |
| Sell Derive no order-book sample | — | — | — | — | — |
Derive: 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 | −0.069% | $141K | $618K | 40x | as long as short |
| Aftermath Perps BTCUSD | −0.0170% | 1h | 86,630.8 | −0.127% | $79K | $199K | 20x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,603 | −0.159% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,702 | −0.045% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0013% | 1h | 86,734 | −0.008% | $17.5M | $20.3M | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 86,702.7 | −0.044% | $359K | $2.4M | 50x | as long as short |
| Aster BTCUSDT | −0.0006% | 8h | 86,668.1 | −0.084% | $505.9M | $1.15B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,703.6 | −0.043% | $419K | $24.0M | 6.7x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,699.6 | −0.048% | $925.8M | $1.47B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0001% | 8h | 86,652.1 | −0.103% | $852.1M | $707.7M | 125x | 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
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 | −0.050% | $36.9M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,703.7 | −0.043% | $8.6M | $43.2M | 25x | as long as short |
| Phemex BTCUSDT | +0.0021% | 8h | 86,666.5 | −0.086% | $150.0M | $473.4M | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,668.8 | −0.083% | $6.7M | $144.8M | 40x | as long as short |
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,559 | −0.210% | $315K | $26.8M | 52x | as long as short |
| Hibachi BTC/USDT-P | +0.0024% | 1h | 86,651.1 | −0.104% | $732K | $8.1M | 30x | as long as short |
| BingX BTC-USDT | +0.0032% | 8h | 86,677.3 | −0.073% | — | $1.59B | — | as long as short |
| Bitget BTCUSDT | +0.0041% | 8h | 86,677.3 | −0.073% | $2.96B | $5.07B | 150x | as long as short |
| MEXC BTC_USDT | +0.0060% | 8h | 86,663.6 | −0.089% | $5.19B | $5.63B | 500x | as long as short |
| Binance BTCUSDT | +0.0061% | 8h | 86,675.6 | −0.075% | $9.44B | $24.31B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,650.6 | −0.104% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0081% | 8h | 86,674.1 | −0.077% | $5.86B | $10.64B | 200x | as long as short |
| Bybit BTCUSDT | +0.0090% | 8h | 86,676.2 | −0.075% | $5.28B | $9.69B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,677.8 | −0.073% | $172.1M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,689.1 | −0.060% | $24.1M | $151.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,681 | −0.069% | $8.5M | $52.1M | 100x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,717.2 | −0.027% | $21.9M | $233.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,687 | −0.062% | $206K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,745 | +0.005% | $4.8M | $8.3M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 86,741 | long leg | $3.82B | $5.10B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,739.1 | −0.002% | $40.9M | $504.7M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,681.7 | −0.068% | $2.55B | $12.70B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,714 | −0.031% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,776 | +0.040% | $7.4M | $93.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,703.1 | −0.044% | $573.0M | $18.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,659.6 | −0.094% | $38.4M | $153.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,560.2 | −0.208% | $156.7M | $569.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,606.7 | −0.155% | $279.8M | $943.1M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,610.1 | −0.151% | $217.3M | $177.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,623.7 | −0.135% | $141.6M | $323.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,664 | −0.089% | $30.7M | $203.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,729 | −0.014% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,682 | −0.068% | $11.1M | $13.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,682.6 | −0.067% | $195K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,663.6 | −0.089% | $2.5M | $8.6M | 100x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 86,655.8 | −0.098% | $30.0M | $61.6M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,689 | −0.060% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,666 | −0.086% | $60.6M | $336.9M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,663.2 | −0.090% | $2.30B | $963.9M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,646.5 | −0.109% | $46.3M | $225.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,725.4 | −0.018% | — | $98.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,707.3 | −0.039% | $131.8M | $5.73B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,698.4 | −0.049% | $191.8M | $936.9M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0208% | 1h | 86,692 | −0.056% | $15.1M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0181% | 8h | 86,665.7 | −0.087% | $415.5M | $652.4M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0193% | 8h | 86,719 | −0.025% | $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
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