Funding you earn now, next payment 23:00 UTC+0.0213%/8h= +23.3% APRnext payment +$0.27 per $10,000 · paid last 24h +0.067%
Price spread now: Hyperliquid against GMX+0.475%56s7-day average +0.041% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.015%−$1 on $10k
+Price spread, last 3 days (all we have)−0.486%−$49 · spread now +0.475%, 7d avg +0.041%
=Together, before fees−0.501%+ Points / potential airdropHyperliquid: Season 2 · farm board−$50 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hyperliquid is 0.434% dearer against GMX than usual: you sell high and buy low: +$43 more if the spread goes back to its 7-day average of +0.041%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.015% in total (about -1.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.27 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 | GMX DOGE/USD [ETH-USDC] | 0.1003 | L +0.0245% / S −0.0266% | pay 0.0031% / 1h | 55m 26s | $311K | — | 200x |
| Short | Hyperliquid DOGE | 0.1008 | 0.0458 | get 0.0057% / 1h | 55m 26s | $110.6M | $80.5M | 10x |
GMX DOGE/USD [ETH-USDC]
Hyperliquid DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against GMX. 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
- $44.76
- Price spread: +0.475% → +0.041%
- $43.43
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $67.2
- Costs to cover
- 0.210%
- Break-even
- from the start
Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 8 min ago. Net counts fees only.
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 GMX no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 8 min ago | 0.05 bp | 6.2 bp −$6 | 7.6 bp −$76 | doesn't fit | doesn't fit |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
DOGE on 44 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget DOGEUSDT | −0.0273% | 8h | 0.1007 | +0.306% | $154.1M | $261.9M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1005 | +0.151% | $377K | $4.4M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.1004 | +0.025% | $627K | $106K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1003 | +0.006% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0032% | 1h | 0.1004 | +0.027% | $225K | $44K | 10x | as long as short |
| Phoenix DOGE | +0.0080% | 1h | 0.1004 | +0.026% | $15K | $222K | 10x | as long as short |
| Gate DOGE_USDT | +0.0084% | 8h | 0.1005 | +0.117% | $242.1M | $120.4M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1005 | +0.127% | $769K | $5.3M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.1007 | +0.316% | $1K | $351K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1007 | +0.401% | $683K | $743K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Phoenix DOGE
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.1005 | +0.147% | $4.9M | $41.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1004 | +0.082% | $337K | $498K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1007 | +0.397% | $318.9M | $1.28B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1007 | +0.356% | $162.0M | $402.6M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1007 | +0.396% | $110.1M | $911.5M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1007 | +0.316% | $28K | $76K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1007 | +0.376% | $111.6M | $213.6M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1004 | +0.087% | $65.8M | $39.4M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1004 | +0.067% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09932 | −1.018% | $939K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09957 | −0.770% | $264K | $112.0M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1001 | −0.202% | $630K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1001 | −0.242% | $145K | $235K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1007 | +0.356% | $273K | $534K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1004 | +0.037% | $72K | $402K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1003 | −0.005% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1004 | +0.040% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1003 | −0.013% | $2K | $3.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1004 | +0.028% | $6.0M | $48.2M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1003 | −0.053% | $93.0M | $19.0M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09939 | −0.948% | $381K | $14K | 10x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1004 | +0.097% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1005 | +0.111% | $552K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1004 | +0.028% | $19K | — | 3x | as long as short |
| 01 Exchange DOGEUSD | +0.0160% | 1h | 0.1007 | +0.353% | $532 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0175% | 1h | 0.1007 | +0.373% | $2K | — | 20x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.1004 | +0.087% | $2.0M | $22.9M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1002 | −0.152% | $15.3M | $24.1M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC]long | L +0.0245% / S −0.0266% | 1h | 0.1003 | long leg | $311K | — | 200x | |
| Kraken Futures PF_DOGEUSD | +0.0363% | 1h | 0.1003 | −0.041% | $6.0M | $31.9M | 50x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0419% | 1h | 0.1004 | +0.087% | $530K | $935K | 15x | as long as short |
| Hyperliquid DOGEshort | +0.0458% | 1h | 0.1008 | +0.475% | $110.6M | $80.5M | 10x | |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.1007 | +0.340% | $316K | $474K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0966% | 1h | 0.1005 | +0.156% | $5K | $207K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Polymarket Perps DOGE-USD
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Bulk DOGE-USD
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
01 Exchange DOGEUSD
Reya DOGERUSDPERP
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
Kraken Futures PF_DOGEUSD
Backpack DOGE_USDC_PERP
RISEx DOGE/USDC
Injective DOGE/USDC PERP