Funding you earn now, next payment 23:00 UTC+0.0164%/8h= +17.9% APRnext payment +$0.20 per $10,000 · paid last 24h +0.002%
Price spread now: Backpack against Hyperliquid+0.043%7-day average −0.112% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$380.384% of the position
Funding, last 7 days−0.098%−$10 on $10k
+Price spread, last 4 days (all we have)−0.601%−$60 · spread now +0.043%, 7d avg −0.112%
=Together, before fees−0.699%+ Points / potential airdropHyperliquid: Season 2 · farm board−$70 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Backpack is 0.155% dearer against Hyperliquid than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.112%. Mind the row above: over the last 7 days funding on this pair cost −0.098%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid CRV | 0.3690 | 0.0352 | pay 0.0044% / 1h | 3m 06s | $22.9M | $16.3M | 10x |
| Short | Backpack CRV_USDC_PERP | 0.3691 | 0.0515 | get 0.0064% / 1h | 3m 06s | $108K | $317K | 10x |
Hyperliquid CRV
Backpack CRV_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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
- $34.37
- Price spread: +0.043% → −0.112%
- $15.51
- Slippage, 4 orders
- −$19.42
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $11.47
- Costs to cover
- 0.384%
- Break-even
- 4.7 days
Slippage from Hyperliquid: live order book, 10 min ago; Backpack: live order book, 15 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, 10 min ago | 0.82 bp | 10.3 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 15 min ago | 0.14 bp | 10.2 bp −$10 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective CRV/USDC PERP | −0.0228% | 1h | 0.3670 | −0.534% | $79 | $384K | 12x | as long as short |
| Phoenix CRV | −0.0176% | 1h | 0.3680 | −0.274% | $26K | $181K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3689 | −0.032% | $16 | — | 15x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0021% | 1h | 0.3689 | −0.019% | $57K | $49K | 25x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3689 | −0.019% | $38K | $5K | 10x | as long as short |
| Kraken Futures PF_CRVUSD | +0.0027% | 1h | 0.3692 | +0.067% | $3.1M | $3.0M | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3689 | −0.019% | $25K | $929 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3688 | −0.035% | $417K | $708K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3691 | +0.033% | $132K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3690 | +0.015% | $371K | $208K | 10x | as long as short |
Injective CRV/USDC PERP
Phoenix CRV
Reya CRVRUSDPERP
Deribit CRV_USDC-PERPETUAL
dYdX CRV-USD
Kraken Futures PF_CRVUSD
Orderly PERP_CRV_USDC
Lighter CRV
Aster CRVUSDT
Pacifica CRVShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CRVUSDT | +0.0100% | 8h | 0.3688 | −0.045% | $25.9M | $56.5M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3689 | −0.019% | $28.2M | $17.1M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3683 | −0.182% | $8.8M | $21.8M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3688 | −0.046% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3687 | −0.073% | $14.7M | $5.5M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3691 | +0.035% | $7.3M | $9.0M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3686 | −0.100% | $6.9M | $5.6M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3684 | −0.154% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3668 | −0.588% | $1.1M | $124K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3674 | −0.417% | $38K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3674 | −0.413% | $520K | $427K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3673 | −0.453% | $60K | $698K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3711 | +0.577% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3688 | −0.052% | $244K | $881K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3689 | −0.006% | $19K | $9K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3691 | +0.035% | $1.4M | $4.2M | 75x | as long as short |
| Hyperliquid CRVlong | +0.0352% | 1h | 0.3690 | long leg | $22.9M | $16.3M | 10x | |
| Coinbase International CRV-PERP-INTX | +0.0376% | 1h | 0.3694 | +0.117% | $390K | $4.8M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0450% / S −0.0190% | 1h | 0.3690 | +0.017% | $239K | — | 100x | as long as short |
| Backpack CRV_USDC_PERPshort | +0.0515% | 1h | 0.3691 | +0.043% | $108K | $317K | 10x |
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]