Funding you earn now, next payment 22:00 UTC−0.0379%/8h= −41.5% APRnext payment −$0.47 per $10,000 · paid last 24h −0.082%
Price spread now: Coinbase International against Hyperliquid+0.039%7-day average −0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs−$85as in the Price arb table
costs, in and out, $10k−$900.903% of the position
Funding, last 7 days+0.020%+$2 on $10k
+Price spread, last 3 days (all we have)−0.187%−$19 · spread now +0.039%, 7d avg −0.016%
=Together, before fees−0.167%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.055% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of −0.016%): +$6 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 12 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.020% in total (about 1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.47 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid CFX | 0.05352 | 0.0771 | pay 0.0096% / 1h | 24m 17s | $3.2M | $404K | 5x |
| Short | Coinbase International CFX-PERP-INTX | 0.05354 | 0.0392 | get 0.0049% / 1h | 24m 17s | $35K | $197K | 50x |
Hyperliquid CFX
Coinbase International CFX-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$79.59
- Price spread: +0.039% → −0.016%
- $5.55
- Slippage, 4 orders
- −$71.25
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$164.3
- Costs to cover
- 0.903%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 7 min ago; Coinbase International: live order book, 59 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, 7 min ago | 0.84 bp | 25.0 bp −$25 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 59 min ago | 12.14 bp | 24.4 bp −$24 | doesn't fit | doesn't fit | doesn't fit |
CFX on 16 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate CFX_USDT | +0.0037% | 8h | 0.05342 | −0.185% | $1.1M | $3.0M | 50x | as long as short |
| Aster CFXUSDT | +0.0100% | 8h | 0.05343 | −0.166% | $5K | $47K | 5x | as long as short |
| Binance CFXUSDT | +0.0100% | 8h | 0.05340 | −0.223% | $5.4M | $11.2M | 75x | as long as short |
| Bybit CFXUSDT | +0.0100% | 8h | 0.05335 | −0.316% | $2.4M | $1.8M | 25x | as long as short |
| OKX CFX-USDT-SWAP | +0.0100% | 8h | 0.05337 | −0.278% | $2.5M | $6.3M | 20x | as long as short |
| MEXC CFX_USDT | +0.0100% | 8h | 0.05332 | −0.372% | $3.4M | $1.8M | 125x | as long as short |
| KuCoin CFXUSDTM | +0.0100% | 8h | 0.05341 | −0.204% | $884K | $297K | 75x | as long as short |
| Bitget CFXUSDT | +0.0100% | 8h | 0.05339 | −0.241% | $1.6M | $1.6M | 75x | as long as short |
| BingX CFX-USDT | +0.0100% | 8h | 0.05345 | −0.129% | — | $20.7M | — | as long as short |
| Variational Omni CFX | +0.0100% | 8h | 0.05334 | −0.338% | $37K | $41K | — | as long as short |
Gate CFX_USDT
Aster CFXUSDT
Binance CFXUSDT
Bybit CFXUSDT
OKX CFX-USDT-SWAP
MEXC CFX_USDT
KuCoin CFXUSDTM
Bitget CFXUSDT
BingX CFX-USDT
Variational Omni CFXShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT CFX_USDT_Perp | +0.0100% | 8h | 0.05340 | −0.217% | $511K | $1.9M | 10x | as long as short |
| Extended CFX-USD | +0.0104% | 1h | 0.05339 | −0.242% | $132 | $253K | 10x | as long as short |
| Coinbase International CFX-PERP-INTXshort | +0.0392% | 1h | 0.05354 | +0.039% | $35K | $197K | 50x | |
| Hyperliquid CFXlong | +0.0771% | 1h | 0.05352 | long leg | $3.2M | $404K | 5x | |
| Deribit CFX_USDC-PERPETUAL | +0.1997% | 1h | 0.05353 | +0.021% | $141 | $29 | 10x | as long as short |
| Kraken Futures PF_CFXUSD | +0.2047% | 1h | 0.05346 | −0.116% | $33K | $23K | 20x | as long as short |
GRVT CFX_USDT_Perp
Extended CFX-USD
Deribit CFX_USDC-PERPETUAL
Kraken Futures PF_CFXUSD