Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.020%
Price spread now: Orderly against Hyperliquid−0.102%7-day average −0.077% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.010%−$1 on $10k
+Price spread, last 3 days (all we have)+0.037%+$4 · spread now −0.102%, 7d avg −0.077%
=Together, before fees+0.027%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 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: Orderly is 0.026% cheaper against Hyperliquid than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.077%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 86,536 | 0.0100 | pay 0.0013% / 1h | 12m 12s | $3.79B | $5.11B | 40x |
| Short | Orderly PERP_BTC_USDC | 86,447.4 | 0.0100 | get 0.0100% / 8h | 12m 12s | $2.5M | $9.4M | 100x |
Hyperliquid BTC
Orderly PERP_BTC_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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: −0.102% → −0.077%
- −$2.58
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$17.58
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 12 min ago; Orderly: 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, 12 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.8 bp −$483 | 5.6 bp −$2,796 |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0118% | 1h | 86,476 | −0.069% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,421 | −0.133% | $9K | $3K | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,345 | −0.221% | $332K | $26.9M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,468.8 | −0.078% | $8.3M | $42.7M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,476.2 | −0.069% | $358K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,447.6 | −0.102% | $414K | $22.5M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,471.8 | −0.074% | $36.8M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0007% | 8h | 86,451.3 | −0.098% | $501.4M | $1.15B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0020% | 8h | 86,447.1 | −0.103% | $833.8M | $728.5M | 125x | as long as short |
| Reya BTCRUSDPERP | +0.0035% | 1h | 86,456.3 | −0.092% | $6.7M | $145.5M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
KuCoin XBTUSDTM
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0042% | 8h | 86,443.5 | −0.107% | — | $15.4M | — | as long as short |
| Phemex BTCUSDT | +0.0054% | 8h | 86,461.6 | −0.086% | $150.6M | $478.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0055% | 8h | 86,444.5 | −0.106% | $2.96B | $5.13B | 150x | as long as short |
| dYdX BTC-USD | +0.0064% | 1h | 86,456.7 | −0.092% | $16.9M | $21.1M | 50x | as long as short |
| MEXC BTC_USDT | +0.0072% | 8h | 86,443.6 | −0.107% | $5.16B | $5.68B | 500x | as long as short |
| Aevo BTC-PERP | +0.0072% | 1h | 86,434.5 | −0.117% | $2.4M | $1.3M | 20x | as long as short |
| Binance BTCUSDT | +0.0073% | 8h | 86,446.1 | −0.104% | $9.43B | $24.55B | 150x | as long as short |
| Gate BTC_USDT | +0.0082% | 8h | 86,460.3 | −0.088% | $5.85B | $10.80B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,457.3 | −0.091% | $170.1M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,464.7 | −0.082% | $23.9M | $152.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,453 | −0.096% | $8.5M | $52.4M | 100x | as long as short |
| Bybit BTCUSDT | +0.0099% | 8h | 86,450.4 | −0.099% | $5.26B | $9.79B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,440 | −0.111% | $196K | $7.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,501.7 | −0.040% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,462.9 | −0.085% | $21.7M | $234.1M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 86,536 | long leg | $3.79B | $5.11B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,493 | −0.050% | $41.1M | $535.5M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,457.4 | −0.091% | $2.55B | $12.73B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,462 | −0.086% | $3.9M | $18.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,496.5 | −0.046% | $7.3M | $95.9M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,449 | −0.101% | $572.1M | $12.5M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,435.4 | −0.116% | $37.9M | $157.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,485.4 | −0.058% | $157.1M | $568.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,457.2 | −0.091% | $279.3M | $947.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,437.7 | −0.114% | $216.9M | $172.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,457.6 | −0.091% | $141.4M | $323.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,450.5 | −0.099% | $30.7M | $206.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,501.5 | −0.040% | — | $11.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,459 | −0.089% | $11.1M | $13.9M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,458.5 | −0.090% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDCshort | +0.0100% | 8h | 86,447.4 | −0.102% | $2.5M | $9.4M | 100x | |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,477.4 | −0.068% | $140K | $663K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,476.9 | −0.068% | $30.5M | $62.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,429.9 | −0.123% | $3.4M | $5.3M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,442 | −0.109% | $60.5M | $338.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,437.9 | −0.113% | $2.29B | $968.2M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,428.8 | −0.124% | $45.7M | $227.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,453.1 | −0.096% | — | $100.0M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,471.2 | −0.075% | $192.9M | $953.2M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,486.9 | −0.057% | $132.3M | $5.64B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0157% | 1h | 86,474.7 | −0.071% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 86,469.7 | −0.077% | $717K | $8.1M | 30x | as long as short |
| BloFin BTC-USDT | +0.0193% | 8h | 86,431.3 | −0.121% | $414.9M | $658.6M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0199% / S −0.0223% | 1h | 86,470.3 | −0.076% | $15.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 86,478 | −0.067% | $10.0M | $750.5M | 6.4x | as long as short |
| Deribit BTC-PERPETUAL | +0.0211% | 1h | 86,489.3 | −0.054% | $911.5M | $1.48B | 50x | as long as short |
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
dYdX BTC-USD
MEXC BTC_USDT
Aevo BTC-PERP
Binance BTCUSDT
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Bybit 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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Deribit BTC-PERPETUAL