Funding you earn now, next payment 23:00 UTC+0.0116%/8h= +12.7% APRnext payment +$0.15 per $10,000 · paid last 24h +0.053%
Price spread now: Hyperliquid against 01 Exchange+0.085%7-day average +0.043% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$180.178% of the position
Funding, last 3 days (all we have)+0.116%+$12 on $10k
+Price spread, last 7 days−0.097%−$10 · spread now +0.085%, 7d avg +0.043%
=Together, before fees+0.019%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.042% dearer against 01 Exchange than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.043%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | 01 Exchange BTCUSD | 86,352 | −0.0016 | get 0.0002% / 1h | 1m 37s | $357K | $2.5M | 50x |
| Short | Hyperliquid BTC | 86,425 | 0.0100 | get 0.0013% / 1h | 1m 37s | $3.79B | $5.10B | 40x |
01 Exchange BTCUSD
Hyperliquid BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against 01 Exchange. 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
- $24.36
- Price spread: +0.085% → +0.043%
- $4.18
- Slippage, 4 orders
- −$1.84
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $10.7
- Costs to cover
- 0.178%
- Break-even
- 3.9 days
Slippage from 01 Exchange: live order book, 3 min ago; Hyperliquid: live order book, 13 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 01 Exchange live order book, 3 min ago | 0.04 bp | 4.9 bp −$5 | 8.1 bp −$81 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 13 min ago | 0.06 bp | 4.6 bp −$5 | 4.7 bp −$47 | 6.1 bp −$612 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0436% | 1h | 86,385.1 | +0.038% | $140K | $663K | 40x | as long as short |
| Phoenix BTC | −0.0159% | 1h | 86,366 | +0.016% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,339 | −0.015% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSDlong | −0.0016% | 1h | 86,352 | long leg | $357K | $2.5M | 50x | |
| Aster BTCUSDT | −0.0008% | 8h | 86,341.7 | −0.012% | $502.7M | $1.15B | 200x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,376.8 | +0.029% | $36.8M | — | 200x | as long as short |
| RISEx BTC/USDC | +0.0006% | 1h | 86,348.8 | −0.004% | $8.4M | $42.8M | 25x | as long as short |
| KuCoin XBTUSDTM | +0.0007% | 8h | 86,338.4 | −0.016% | $848.9M | $713.4M | 125x | as long as short |
| dYdX BTC-USD | +0.0010% | 1h | 86,352 | 0.000% | $16.9M | $21.1M | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0023% | 1h | 86,351 | −0.001% | $6.7M | $145.1M | 40x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
Aster BTCUSDT
gTrade (Gains Network) BTC/USD
RISEx BTC/USDC
KuCoin XBTUSDTM
dYdX BTC-USD
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0024% | 1h | 86,403 | +0.059% | $332K | $26.8M | 52x | as long as short |
| BingX BTC-USDT | +0.0038% | 8h | 86,343.2 | −0.010% | — | $1.59B | — | as long as short |
| Phemex BTCUSDT | +0.0043% | 8h | 86,356.7 | +0.005% | $149.7M | $477.5M | 150x | as long as short |
| Bitget BTCUSDT | +0.0049% | 8h | 86,338.8 | −0.015% | $2.95B | $5.11B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,350.2 | −0.002% | $2.4M | $1.3M | 20x | as long as short |
| MEXC BTC_USDT | +0.0066% | 8h | 86,345.6 | −0.007% | $5.12B | $5.72B | 500x | as long as short |
| Binance BTCUSDT | +0.0067% | 8h | 86,346 | −0.007% | $9.40B | $24.49B | 150x | as long as short |
| Aftermath Perps BTCUSD | +0.0071% | 1h | 86,389.2 | +0.043% | $79K | $220K | 20x | as long as short |
| Gate BTC_USDT | +0.0081% | 8h | 86,341.9 | −0.012% | $5.84B | $10.79B | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0083% | 1h | 86,392.5 | +0.047% | $916.6M | $1.49B | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,358.7 | +0.008% | $170.2M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,364.5 | +0.014% | $24.0M | $153.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,348 | −0.005% | $8.4M | $52.4M | 100x | as long as short |
| Bybit BTCUSDT | +0.0098% | 8h | 86,349.6 | −0.003% | $5.25B | $9.80B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,321 | −0.036% | $204K | $6.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,389.9 | +0.044% | $4.8M | $8.5M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,352.1 | 0.000% | $21.8M | $234.5M | 50x | as long as short |
| Hyperliquid BTCshort | +0.0100% | 1h | 86,425 | +0.085% | $3.79B | $5.10B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,378.1 | +0.030% | $40.7M | $517.9M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,353.2 | +0.001% | $2.54B | $12.69B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,359 | +0.008% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,390 | +0.044% | $7.6M | $94.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,320.9 | −0.036% | $570.7M | $18.4M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,347.9 | −0.005% | $37.8M | $154.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,349.5 | −0.003% | $155.5M | $568.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,361.4 | +0.011% | $279.1M | $946.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,351.2 | −0.001% | $216.7M | $173.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,372.8 | +0.024% | $141.2M | $323.4M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,350.7 | −0.001% | $30.6M | $204.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,396.4 | +0.051% | — | $11.7M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,366 | +0.016% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,364.2 | +0.014% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,365.6 | +0.016% | $2.4M | $8.7M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,386.4 | +0.040% | $30.6M | $62.2M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,362.9 | +0.013% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,356 | +0.005% | $60.4M | $337.4M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,353.2 | +0.001% | $2.29B | $968.8M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,322.7 | −0.034% | $45.5M | $226.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,376 | +0.028% | — | $98.9M | 500x | as long as short |
| Perpl BTC | +0.0112% | 43m | 86,366.1 | +0.016% | $418K | $23.5M | 6.7x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,395.5 | +0.050% | $131.9M | $5.67B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,377.7 | +0.030% | $191.6M | $946.6M | 100x | as long as short |
| Hibachi BTC/USDT-P | +0.0144% | 1h | 86,379.4 | +0.032% | $718K | $8.1M | 30x | as long as short |
| BloFin BTC-USDT | +0.0186% | 8h | 86,343.9 | −0.009% | $414.3M | $654.0M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0188% / S −0.0212% | 1h | 86,370.2 | +0.021% | $15.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0199% | 8h | 86,383 | +0.036% | $9.6M | $736.6M | 6.4x | as long as short |
Injective BTC/USDC PERP
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Aftermath Perps BTCUSD
Gate BTC_USDT
Deribit BTC-PERPETUAL
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
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Perpl BTC
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP