Funding you earn now, next payment 03:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.049%
Price spread now: gTrade (Gains Network) against Hyperliquid−0.056%7-day average −0.046% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$170.171% of the position
Funding, last 3 days (all we have)−0.113%−$11 on $10k
+Price spread, last 7 days+0.066%+$7 · spread now −0.056%, 7d avg −0.046%
=Together, before fees−0.048%+ Points / potential airdropHyperliquid: Season 2 · farm board−$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.046%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 85,657 | 0.0100 | pay 0.0013% / 1h | 43m 26s | $3.78B | $4.94B | 40x |
| Short | gTrade (Gains Network) BTC/USD | 85,609.1 | L +0.0004% / S −0.0004% | get 0.0001% / 1h | 43m 26s | $36.7M | — | 200x |
Hyperliquid BTC
gTrade (Gains Network) BTC/USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
gTrade (Gains Network) 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
- −$20.1
- Price spread: −0.056% → −0.046%
- −$0.95
- Slippage, 4 orders
- −$1.15
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Net
- −$38.21
- Costs to cover
- 0.171%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 11 min ago; gTrade (Gains Network): virtual book (oracle venue), 1 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, 11 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.6 bp −$456 | doesn't fit |
| Sell gTrade (Gains Network) virtual book (oracle venue), 1 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$447 | 6.4 bp −$3,183 |
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 | −0.0160% | 1h | 85,485 | −0.201% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,574 | −0.097% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,586.2 | −0.083% | $368K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0030% | 8h | 85,579.2 | −0.091% | $416.4M | $660.4M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,596.8 | −0.070% | $16.7M | $20.9M | 50x | as long as short |
| Nado BTC-PERP | +0.0003% | 1h | 85,585.6 | −0.083% | $22.8M | $221.7M | 50x | as long as short |
| gTrade (Gains Network) BTC/USDshort | L +0.0004% / S −0.0004% | 1h | 85,609.1 | −0.056% | $36.7M | — | 200x | |
| KuCoin XBTUSDTM | +0.0014% | 8h | 85,573.8 | −0.097% | $906.5M | $749.4M | 125x | as long as short |
| Aster BTCUSDT | +0.0020% | 8h | 85,600.8 | −0.066% | $515.8M | $1.11B | 200x | as long as short |
| BingX BTC-USDC | +0.0053% | 8h | 85,589.1 | −0.079% | — | $17.0M | — | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
dYdX BTC-USD
Nado BTC-PERP
KuCoin XBTUSDTM
Aster BTCUSDT
BingX BTC-USDCShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0066% | 1h | 85,580.1 | −0.090% | $6.7M | $146.4M | 40x | as long as short |
| Bitget BTCUSDT | +0.0067% | 8h | 85,630.3 | −0.031% | $2.95B | $5.02B | 150x | as long as short |
| HTX BTC-USDT | +0.0073% | 8h | 85,548.6 | −0.127% | $2.27B | $931.9M | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,617 | −0.047% | $340K | $26.9M | 52x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,623.4 | −0.039% | $2.5M | $1.7M | 20x | as long as short |
| Phemex BTCUSDT | +0.0083% | 8h | 85,556.9 | −0.117% | $148.2M | $478.5M | 150x | as long as short |
| SunX BTC-USDT | +0.0086% | 8h | 85,577.7 | −0.093% | $2.9M | $6.1M | 100x | as long as short |
| MEXC BTC_USDT | +0.0086% | 8h | 85,598 | −0.069% | $5.03B | $5.60B | 500x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,598.1 | −0.069% | $9.34B | $23.88B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,622.7 | −0.040% | $169.6M | $986.7M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,622.7 | −0.040% | $23.9M | $147.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,599 | −0.068% | $8.4M | $51.9M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0099% | 8h | 85,651.5 | −0.006% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,569 | −0.103% | $205K | $7.7M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 85,657 | long leg | $3.78B | $4.94B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 85,645 | −0.014% | $40.2M | $571.1M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,614.5 | −0.050% | $5.34B | $9.58B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,640.8 | −0.019% | $2.56B | $12.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,587 | −0.082% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,564.6 | −0.108% | $7.3M | $97.2M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,562.7 | −0.110% | $616.1M | $358.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,609.2 | −0.056% | $5.55B | $10.45B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,561.1 | −0.112% | $35.1M | $171.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,485 | −0.201% | $154.0M | $550.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,511.8 | −0.170% | $278.9M | $932.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,432.8 | −0.262% | $214.5M | $161.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,578.6 | −0.092% | $140.0M | $316.4M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,570.9 | −0.100% | $30.3M | $211.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,641.2 | −0.018% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,584 | −0.085% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,600.3 | −0.066% | $189K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,609.5 | −0.055% | $2.4M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,653.4 | −0.004% | $197K | $722K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,626.8 | −0.035% | $30.0M | $52.5M | 15x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,634 | −0.027% | $59.9M | $336.2M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,611.8 | −0.053% | $44.1M | $227.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,578.5 | −0.092% | — | $106.1M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,600 | −0.067% | $130.8M | $5.08B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0118% | 1h | 85,665.3 | +0.010% | $893.4M | $1.52B | 50x | as long as short |
| RISEx BTC/USDC | +0.0120% | 1h | 85,616.6 | −0.047% | $8.3M | $42.2M | 25x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0138% | 1h | 85,645 | −0.014% | $187.6M | $948.8M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0195% | 1h | 85,567.8 | −0.104% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,583.5 | −0.086% | $697K | $7.9M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0180% | 1h | 85,604.8 | −0.061% | $13.6M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0211% | 8h | 85,608 | −0.057% | $10.5M | $760.3M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,626.4 | −0.036% | $524K | $19.5M | 6.7x | as long as short |
Reya BTCRUSDPERP
Bitget BTCUSDT
HTX BTC-USDT
Injective BTC/USDC PERP
Aevo BTC-PERP
Phemex BTCUSDT
SunX BTC-USDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
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
Bluefin BTC-PERP
Derive BTC-PERP
SoDEX BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
RISEx BTC/USDC
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Perpl BTC