Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.021%
Price spread now: Extended against Hyperliquid−0.100%7-day average −0.078% · you buy dearer than you sell
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$140.142% of the position
Funding, last 7 days−0.009%−$1 on $10k
+Price spread, last 7 days+0.077%+$8 · spread now −0.100%, 7d avg −0.078%
=Together, before fees+0.068%+ Points / potential airdropHyperliquid: Season 2 · Extended: Active · farm board+$7 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: Extended is 0.022% 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 | 85,748 | 0.0100 | pay 0.0013% / 1h | 55m 38s | $3.75B | $4.98B | 40x |
| Short | Extended BTC-USD | 85,662.3 | 0.0104 | get 0.0013% / 1h | 55m 38s | $44.5M | $226.3M | 50x |
Hyperliquid BTC
Extended BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $0.84
- Price spread: −0.100% → −0.078%
- −$2.23
- Slippage, 4 orders
- −$0.23
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$15.62
- Costs to cover
- 0.142%
- Break-even
- 137.2 days
Slippage from Hyperliquid: live order book, 9 min ago; Extended: live order book, 4 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, 9 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 5.5 bp −$546 | doesn't fit |
| Sell Extended live order book, 4 min ago | 0.06 bp | 2.6 bp −$3 | 2.6 bp −$26 | 3.0 bp −$296 | 9.9 bp −$4,940 |
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 | −0.5928% | 1h | 85,745.9 | −0.002% | $194K | $725K | 40x | as long as short |
| Phoenix BTC | −0.0160% | 1h | 85,660 | −0.103% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,722 | −0.030% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,680.9 | −0.078% | $370K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0033% | 8h | 85,652.5 | −0.111% | $417.5M | $665.7M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,713.4 | −0.040% | $16.7M | $21.2M | 50x | as long as short |
| KuCoin XBTUSDTM | 0.0000% | 8h | 85,657.9 | −0.105% | $920.1M | $750.2M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,717.3 | −0.036% | $36.6M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 85,670.9 | −0.090% | $516.3M | $1.10B | 200x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,666.6 | −0.095% | $6.9M | $97.7M | 40x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
dYdX BTC-USD
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0031% | 1h | 85,698.4 | −0.058% | $22.6M | $218.7M | 50x | as long as short |
| BingX BTC-USDT | +0.0058% | 8h | 85,686.8 | −0.071% | — | $1.53B | — | as long as short |
| Bitget BTCUSDT | +0.0073% | 8h | 85,687.8 | −0.070% | $2.96B | $5.01B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0076% | 1h | 85,709.4 | −0.045% | $6.7M | $146.6M | 40x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,707.6 | −0.047% | $2.5M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0086% | 8h | 85,673.4 | −0.087% | $5.05B | $5.57B | 500x | as long as short |
| Binance BTCUSDT | +0.0088% | 8h | 85,675.6 | −0.084% | $9.35B | $23.95B | 150x | as long as short |
| SoDEX BTC-USD | +0.0094% | 1h | 85,700 | −0.056% | $60.0M | $336.1M | 40x | as long as short |
| HTX BTC-USDT | +0.0095% | 8h | 85,704.5 | −0.051% | $2.27B | $938.3M | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,685.7 | −0.073% | $174.3M | $999.3M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,687.7 | −0.070% | $23.9M | $147.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,676 | −0.084% | $8.4M | $52.5M | 100x | as long as short |
| Phemex BTCUSDT | +0.0097% | 8h | 85,712.8 | −0.041% | $150.7M | $482.6M | 150x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,715.9 | −0.037% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,655 | −0.108% | $198K | $7.8M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 85,748 | long leg | $3.75B | $4.98B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 85,703.9 | −0.051% | $40.1M | $576.9M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,677.7 | −0.082% | $5.33B | $9.58B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,685.2 | −0.073% | $2.58B | $12.10B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,668 | −0.093% | $3.9M | $18.0M | 25x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,685.3 | −0.073% | $5.54B | $10.53B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,700.2 | −0.056% | $36.0M | $175.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,690.1 | −0.068% | $156.8M | $560.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,589.3 | −0.185% | $279.5M | $917.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,627.1 | −0.141% | $215.0M | $164.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,701.5 | −0.054% | $140.1M | $315.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,676 | −0.084% | $30.3M | $207.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,744.8 | −0.004% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,712 | −0.042% | $11.1M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,705.9 | −0.049% | $195K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,696.4 | −0.060% | $2.4M | $8.7M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,700.7 | −0.055% | $30.0M | $51.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,698.1 | −0.058% | $2.9M | $6.1M | 100x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,642.1 | −0.123% | $641.7M | $524.8M | 40x | as long as short |
| Extended BTC-USDshort | +0.0104% | 1h | 85,662.3 | −0.100% | $44.5M | $226.3M | 50x | |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,690.8 | −0.067% | — | $106.6M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,750 | +0.002% | $118.4M | $5.14B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,626 | −0.142% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,726.4 | −0.025% | $189.2M | $952.1M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0177% / S −0.0152% | 1h | 85,715.4 | −0.038% | $13.5M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 85,703.2 | −0.052% | $703K | $7.8M | 30x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,713.3 | −0.040% | $8.4M | $42.4M | 25x | as long as short |
| Deribit BTC-PERPETUAL | +0.0198% | 1h | 85,752.7 | +0.005% | $892.0M | $1.53B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0204% | 1h | 85,716.1 | −0.037% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0219% | 8h | 85,726 | −0.026% | $10.6M | $759.1M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,723.8 | −0.028% | $494K | $19.0M | 6.7x | as long as short |
Nado BTC-PERP
BingX BTC-USDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
SoDEX BTC-USD
HTX BTC-USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Phemex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Gate BTC_USDT
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
Bulk BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
RISEx BTC/USDC
Deribit BTC-PERPETUAL
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Perpl BTC