Funding you earn now, next payment 22:00 UTC−0.0179%/8h= −19.6% APRnext payment −$0.22 per $10,000 · paid last 24h −0.001%
Price spread now: Hyperliquid against Backpack+0.038%7-day average +0.114% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$420.419% of the position
Funding, last 7 days+0.106%+$11 on $10k
+Price spread, last 4 days (all we have)+0.719%+$72 · spread now +0.038%, 7d avg +0.114%
=Together, before fees+0.825%+ Points / potential airdropHyperliquid: Season 2 · farm board+$83 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hyperliquid is 0.076% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.114%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.106%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack CRV_USDC_PERP | 0.3642 | 0.0483 | pay 0.0060% / 1h | 18m 28s | $104K | $362K | 10x |
| Short | Hyperliquid CRV | 0.3644 | 0.0304 | get 0.0038% / 1h | 18m 28s | $22.4M | $17.1M | 10x |
Backpack CRV_USDC_PERP
Hyperliquid CRVFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Backpack. 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
- −$37.5
- Price spread: +0.038% → +0.114%
- −$7.58
- Slippage, 4 orders
- −$22.87
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$86.95
- Costs to cover
- 0.419%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 5 min ago; Hyperliquid: live order book, 5 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 Backpack live order book, 5 min ago | 0.14 bp | 7.2 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 0.14 bp | 10.9 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
CRV on 30 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit CRV_USDC-PERPETUAL | −0.0574% | 1h | 0.3639 | −0.091% | $57K | $48K | 25x | as long as short |
| Injective CRV/USDC PERP | −0.0103% | 1h | 0.3630 | −0.338% | $78 | $265K | 12x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3636 | −0.176% | $16 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3641 | −0.037% | $38K | $4K | 10x | as long as short |
| Phoenix CRV | 0.0000% | 1h | 0.3637 | −0.140% | $26K | $193K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0095% | 8h | 0.3639 | −0.091% | $24K | $701 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3637 | −0.135% | $413K | $700K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3639 | −0.097% | $130K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3641 | −0.036% | $374K | $173K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3637 | −0.146% | $25.4M | $58.2M | 75x | as long as short |
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Reya CRVRUSDPERP
dYdX CRV-USD
Phoenix CRV
Orderly PERP_CRV_USDC
Lighter CRV
Aster CRVUSDT
Pacifica CRV
Binance CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CRVUSDT | +0.0100% | 8h | 0.3637 | −0.146% | $27.6M | $17.2M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3635 | −0.200% | $8.6M | $22.5M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3641 | −0.036% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3638 | −0.118% | $14.5M | $5.7M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3641 | −0.036% | $7.0M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3639 | −0.091% | $6.9M | $5.8M | 75x | as long as short |
| BingX CRV-USDT | +0.0100% | 8h | 0.3637 | −0.146% | — | $21.6M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3642 | 0.000% | $1.1M | $152K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3642 | −0.002% | $38K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3650 | +0.208% | $508K | $462K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3647 | +0.129% | $60K | $693K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3685 | +1.172% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3635 | −0.211% | $242K | $886K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3639 | −0.091% | $19K | $9K | 3x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0163% | 1h | 0.3644 | +0.038% | $3.1M | $3.5M | 50x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3636 | −0.173% | $1.4M | $4.8M | 75x | as long as short |
| Hyperliquid CRVshort | +0.0304% | 1h | 0.3644 | +0.038% | $22.4M | $17.1M | 10x | |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3641 | −0.036% | $387K | $4.9M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0401% / S −0.0160% | 1h | 0.3641 | −0.035% | $216K | — | 100x | as long as short |
| Backpack CRV_USDC_PERPlong | +0.0483% | 1h | 0.3642 | long leg | $104K | $362K | 10x |
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDT
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
Kraken Futures PF_CRVUSD
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]