Funding you earn now, next payment 22:00 UTC−0.0037%/8h= −4.1% APRnext payment −$0.05 per $10,000 · paid last 24h −0.021%
Price spread now: RISEx against Hyperliquid−0.077%7-day average −0.031% · 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−$22as in the Price arb table
costs, in and out, $10k−$170.172% of the position
Funding, last 3 days (all we have)−0.033%−$3 on $10k
+Price spread, last 7 days+0.096%+$10 · spread now −0.077%, 7d avg −0.031%
=Together, before fees+0.063%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and RISEx is 0.046% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.031%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 86,660 | 0.0100 | pay 0.0013% / 1h | 36m 35s | $3.82B | $5.12B | 40x |
| Short | RISEx BTC/USDC | 86,593.5 | 0.0063 | get 0.0008% / 1h | 36m 35s | $9.2M | $42.0M | 25x |
Hyperliquid BTC
RISEx BTC/USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
RISEx 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
- −$7.87
- Price spread: −0.077% → −0.031%
- −$4.6
- Slippage, 4 orders
- −$2.17
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee RISEx: 3 bp × 2 orders
- −$6
- Net
- −$29.64
- Costs to cover
- 0.172%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; RISEx: 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 | 5.5 bp −$55 | 6.3 bp −$627 | 7.1 bp −$3,570 |
| Sell RISEx live order book, 3 min ago | 0.01 bp | 5.1 bp −$5 | 5.3 bp −$53 | 12.5 bp −$1,246 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0223% | 43m | 86,671.9 | +0.014% | $428K | $24.9M | 6.7x | as long as short |
| Aftermath Perps BTCUSD | −0.0221% | 1h | 86,625.7 | −0.040% | $85K | $188K | 20x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,539 | −0.140% | $2.2M | $12.4M | 40x | as long as short |
| dYdX BTC-USD | −0.0091% | 1h | 86,632.9 | −0.031% | $17.6M | $20.5M | 50x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,514 | −0.168% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,611 | −0.057% | $361K | $2.4M | 50x | as long as short |
| KuCoin XBTUSDTM | 0.0000% | 8h | 86,595.1 | −0.075% | $844.2M | $706.4M | 125x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,681.9 | +0.025% | $936.1M | $1.43B | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0005% | 1h | 86,684.9 | +0.029% | $36.7M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0010% | 8h | 86,580.9 | −0.091% | $505.6M | $1.16B | 200x | as long as short |
Perpl BTC
Aftermath Perps BTCUSD
Phoenix BTC
dYdX BTC-USD
Hotstuff BTC-PERP
01 Exchange BTCUSD
KuCoin XBTUSDTM
Deribit BTC-PERPETUAL
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,659.3 | −0.001% | $6.8M | $144.3M | 40x | as long as short |
| BingX BTC-USDT | +0.0022% | 8h | 86,581.1 | −0.091% | — | $1.59B | — | as long as short |
| Phemex BTCUSDT | +0.0024% | 8h | 86,640.7 | −0.022% | $149.7M | $470.8M | 150x | as long as short |
| Bitget BTCUSDT | +0.0028% | 8h | 86,575.9 | −0.097% | $2.94B | $5.07B | 150x | as long as short |
| Aevo BTC-PERP | +0.0048% | 1h | 86,660.8 | +0.001% | $2.4M | $1.3M | 20x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,732 | +0.083% | $315K | $26.8M | 52x | as long as short |
| MEXC BTC_USDT | +0.0050% | 8h | 86,588.1 | −0.083% | $5.18B | $5.66B | 500x | as long as short |
| Binance BTCUSDT | +0.0051% | 8h | 86,581.3 | −0.091% | $9.43B | $24.30B | 150x | as long as short |
| RISEx BTC/USDCshort | +0.0063% | 1h | 86,593.5 | −0.077% | $9.2M | $42.0M | 25x | |
| OKX BTC-USDT-SWAP | +0.0069% | 8h | 86,589.9 | −0.081% | $2.56B | $12.69B | 100x | as long as short |
| Gate BTC_USDT | +0.0069% | 8h | 86,582.1 | −0.090% | $5.86B | $10.62B | 200x | as long as short |
| Bybit BTCUSDT | +0.0079% | 8h | 86,581.2 | −0.091% | $5.27B | $9.66B | 150x | as long as short |
| Variational Omni BTC | +0.0091% | 8h | 86,619.6 | −0.047% | $160.0M | $567.4M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,604.7 | −0.064% | $172.0M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,599.8 | −0.069% | $24.0M | $153.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,583 | −0.089% | $8.5M | $52.1M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,652 | −0.009% | $4.8M | $8.2M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,578 | −0.095% | $195K | $6.8M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,635.2 | −0.029% | $21.6M | $235.5M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 86,660 | long leg | $3.82B | $5.12B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,624.1 | −0.041% | $41.3M | $490.3M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,629 | −0.036% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,653.9 | −0.007% | $7.5M | $93.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,606.9 | −0.061% | $571.9M | $22.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,650.3 | −0.011% | $38.1M | $148.4M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,571.5 | −0.102% | $279.6M | $949.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,620.3 | −0.046% | $217.5M | $188.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,631.1 | −0.033% | $141.6M | $323.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,531.1 | −0.149% | $30.8M | $205.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,703.8 | +0.050% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,669 | +0.010% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,667.2 | +0.008% | $194K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,681.6 | +0.025% | $2.5M | $8.5M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,690.1 | +0.035% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,668.3 | +0.010% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,659.4 | −0.001% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,647 | −0.015% | $60.5M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,654.6 | −0.006% | $2.30B | $956.9M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,570 | −0.104% | $46.4M | $227.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,692.7 | +0.038% | — | $98.3M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,682.4 | +0.026% | $189.3M | $930.4M | 100x | as long as short |
| Kalshi KXBTCPERP | +0.0120% | 8h | 86,674 | +0.016% | $9.0M | $723.1M | 6.4x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,694 | +0.039% | $131.9M | $5.87B | 50x | as long as short |
| BloFin BTC-USDT | +0.0170% | 8h | 86,675.1 | +0.017% | $417.6M | $650.6M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0178% / S −0.0185% | 1h | 86,677.4 | +0.020% | $14.9M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 86,585.9 | −0.086% | $614K | $7.1M | 30x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
Injective BTC/USDC PERP
MEXC BTC_USDT
Binance BTCUSDT
OKX BTC-USDT-SWAP
Gate BTC_USDT
Bybit BTCUSDT
Variational Omni BTC
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Nado BTC-PERP
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
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
Kalshi KXBTCPERP
Coinbase International BTC-PERP-INTX
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P