Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.024%
Price spread now: Popdex against Hyperliquid−0.037%47s7-day average −0.036% · 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—prices read too far apart to compare
costs, in and out, $10k−$160.159% of the position
Funding, last 3 days (all we have)−0.027%−$3 on $10k
+Price spread, last 7 days+0.035%+$4 · spread now −0.037%, 7d avg −0.036%
=Together, before fees+0.008%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 86,833 | 0.0100 | pay 0.0013% / 1h | 15m 53s | $3.82B | $5.12B | 40x |
| Short | Popdex BTCUSDT | 86,801 | 0.0096 | get 0.0012% / 1h | 15m 53s | $8.5M | $52.3M | 100x |
Hyperliquid BTC
Popdex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex 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: −0.037% → −0.036%
- −$0.13
- Slippage, 4 orders
- −$0.48
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$16.85
- Costs to cover
- 0.159%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; Popdex: live order book, 3 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, 8 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.6 bp −$456 | 4.6 bp −$2,292 |
| Sell Popdex live order book, 3 min ago | 0.06 bp | 3.4 bp −$3 | 3.5 bp −$35 | 3.8 bp −$378 | 5.3 bp −$2,632 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0241% | 1h | 86,779.3 | −0.062% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,837.5 | +0.005% | $426K | $24.7M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,739 | −0.108% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,814 | −0.022% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0062% | 1h | 86,831.2 | −0.002% | $17.6M | $20.6M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,828.3 | −0.005% | $362K | $2.4M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,815.7 | −0.020% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0005% | 8h | 86,757 | −0.088% | $850.5M | $707.6M | 125x | as long as short |
| Aster BTCUSDT | +0.0008% | 8h | 86,757.7 | −0.087% | $506.7M | $1.16B | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0014% | 1h | 86,823 | −0.011% | $931.7M | $1.47B | 50x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex BTCUSDT | +0.0021% | 8h | 86,781.5 | −0.059% | $150.4M | $472.4M | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,786.2 | −0.054% | $6.8M | $144.4M | 40x | as long as short |
| BingX BTC-USDT | +0.0028% | 8h | 86,766.4 | −0.077% | — | $1.60B | — | as long as short |
| Bitget BTCUSDT | +0.0036% | 8h | 86,761.2 | −0.083% | $2.96B | $5.08B | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,639 | −0.223% | $315K | $26.8M | 52x | as long as short |
| MEXC BTC_USDT | +0.0060% | 8h | 86,747.7 | −0.098% | $5.19B | $5.71B | 500x | as long as short |
| Binance BTCUSDT | +0.0060% | 8h | 86,761.4 | −0.082% | $9.44B | $24.37B | 150x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,814.3 | −0.021% | $9.2M | $41.8M | 25x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,790.2 | −0.049% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0083% | 8h | 86,761.9 | −0.082% | $5.85B | $10.68B | 200x | as long as short |
| Bybit BTCUSDT | +0.0085% | 8h | 86,761.6 | −0.082% | $5.29B | $9.71B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0088% | 8h | 86,778.1 | −0.063% | $2.56B | $12.76B | 100x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,786.1 | −0.054% | $172.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,788.7 | −0.051% | $24.2M | $154.1M | 50x | as long as short |
| Popdex BTCUSDTshort | +0.0096% | 1h | 86,801 | −0.037% | $8.5M | $52.3M | 100x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,791 | −0.048% | $201K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,872.7 | +0.046% | $4.8M | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,820.8 | −0.014% | $21.8M | $235.5M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 86,833 | long leg | $3.82B | $5.12B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,856.9 | +0.027% | $41.0M | $494.9M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,814 | −0.022% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,874.7 | +0.048% | $7.5M | $94.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,792.1 | −0.047% | $573.3M | $22.0M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,772.1 | −0.070% | $38.1M | $149.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,754.4 | −0.091% | $159.6M | $567.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,765.9 | −0.077% | $280.3M | $952.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,759.3 | −0.085% | $217.9M | $187.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,779.4 | −0.062% | $141.7M | $322.6M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,754.7 | −0.090% | $30.8M | $204.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,862.8 | +0.034% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,806 | −0.031% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,795 | −0.044% | $195K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,809.2 | −0.027% | $2.5M | $8.5M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,816.8 | −0.019% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,800.1 | −0.038% | $30.1M | $61.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,824.2 | −0.010% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,782 | −0.059% | $60.6M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,785 | −0.055% | $2.31B | $959.0M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,736.9 | −0.111% | $46.3M | $226.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,816.7 | −0.019% | — | $98.9M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,815.3 | −0.020% | $188.2M | $934.1M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,824.6 | −0.010% | $132.1M | $5.86B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0157% | 8h | 86,849 | +0.018% | $9.7M | $727.4M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0209% | 1h | 86,810.6 | −0.026% | $15.0M | — | 200x | as long as short |
| BloFin BTC-USDT | +0.0180% | 8h | 86,825.5 | −0.009% | $415.9M | $656.5M | 150x | as long as short |
| Hibachi BTC/USDT-P | +0.0208% | 1h | 86,850.2 | +0.020% | $645K | $7.6M | 30x | as long as short |
Phemex BTCUSDT
Reya BTCRUSDPERP
BingX BTC-USDT
Bitget BTCUSDT
Injective BTC/USDC PERP
MEXC BTC_USDT
Binance BTCUSDT
RISEx BTC/USDC
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Lighter BTC
Lighter RH BTC
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
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
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
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
BloFin BTC-USDT
Hibachi BTC/USDT-P