Funding you earn now, next payment 04:00 UTC−0.2540%/8h= −278.1% APRnext payment −$3.17 per $10,000 · paid last 24h −0.145%
Price spread now: Deribit against Hyperliquid+0.304%7-day average +0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs−$127as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$460.459% of the position
Funding, last 7 days−0.807%−$81 on $10k
+Price spread, last 4 days (all we have)−0.717%−$72 · spread now +0.304%, 7d avg +0.048%
=Together, before fees−1.524%+ Points / potential airdropHyperliquid: Season 2 · farm board−$152 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Deribit is 0.256% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.304% now, against its 7-day average of +0.048%): +$26 on $10k if it goes back. Holding the pair costs −$76 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.807% in total) that is about 2.2 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.807% in total (about -42.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.17 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 DOT | 1.1829 | 0.0100 | pay 0.0013% / 1h | 57m 42s | $5.3M | $3.5M | 10x |
| Short | Deribit DOT_USDC-PERPETUAL | 1.1865 | −0.2440 | pay 0.0305% / 1h | 57m 42s | $226K | $114K | 50x |
Hyperliquid DOT
Deribit DOT_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$533.4
- Price spread: +0.304% → +0.048%
- $25.64
- Slippage, 4 orders
- −$29.9
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$553.66
- Costs to cover
- 0.459%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; Deribit: live order book, 1 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, 4 min ago | 1.26 bp | 8.3 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 1 min ago | 8.85 bp | 17.4 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
DOT on 29 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 DOT_USDC-PERPETUALshort | −0.2440% | 1h | 1.1865 | +0.304% | $226K | $114K | 50x | |
| Coinbase International DOT-PERP-INTX | −0.0608% | 1h | 1.1860 | +0.262% | $195K | $1.9M | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1859 | +0.255% | $257 | — | — | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1834 | +0.043% | $142K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1864 | +0.293% | $3K | — | 150x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | +1.615% | $328 | $121K | 12x | as long as short |
| Backpack DOT_USDC_PERP | +0.0044% | 1h | 1.1843 | +0.118% | $92K | $129K | 10x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1833 | +0.038% | $267K | $632K | 10x | as long as short |
| OKX DOT-USDT-SWAP | +0.0100% | 8h | 1.1829 | 0.000% | $9.4M | $24.1M | 50x | as long as short |
| Hyperliquid DOTlong | +0.0100% | 1h | 1.1829 | long leg | $5.3M | $3.5M | 10x |
Coinbase International DOT-PERP-INTX
Reya DOTRUSDPERP
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
Injective DOT/USDC PERP
Backpack DOT_USDC_PERP
Lighter DOT
OKX DOT-USDT-SWAPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOTUSDT | +0.0100% | 8h | 1.1833 | +0.036% | $854K | $709K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.1834 | +0.042% | $43.5M | $85.2M | 75x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.1831 | +0.017% | $24.3M | $19.0M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1820 | −0.076% | $6.7M | $11.7M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.1830 | +0.008% | $34.5M | $50.5M | 300x | as long as short |
| KuCoin DOTUSDTM | +0.0100% | 8h | 1.1831 | +0.017% | $6.5M | $9.1M | 75x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1820 | −0.076% | $22.6M | $14.8M | 75x | as long as short |
| BingX DOT-USDC | +0.0100% | 8h | 1.1819 | −0.085% | — | $1.3M | — | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.1873 | +0.373% | $540K | $58K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1871 | +0.356% | $35K | $336K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1874 | +0.380% | $226K | $407K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1860 | +0.262% | $8K | $24K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1870 | +0.347% | $2K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1877 | +0.406% | $258K | $242K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.1831 | +0.015% | $14K | $303K | 25x | as long as short |
| Phemex DOTUSDT | +0.0208% | 8h | 1.1860 | +0.262% | $2.3M | $2.2M | 50x | as long as short |
| Kraken Futures PF_DOTUSD | +0.0214% | 1h | 1.1860 | +0.258% | $4.4M | $1.5M | 50x | as long as short |
| BloFin DOT-USDT | +0.0220% | 8h | 1.1867 | +0.321% | $2.2M | $873K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0302% / S −0.1012% | 1h | 1.1863 | +0.291% | $22K | — | 100x | as long as short |
Aster DOTUSDT
Binance DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
MEXC DOT_USDT
KuCoin DOTUSDTM
Bitget DOTUSDT
BingX DOT-USDC
Variational Omni DOT
edgeX DOTUSDC
GRVT DOT_USDT_Perp
Orderly PERP_DOT_USDC
SunX DOT-USDT
HTX DOT-USDT
Extended DOT-USD
Phemex DOTUSDT
Kraken Futures PF_DOTUSD
BloFin DOT-USDT
GMX DOT/USD [WBTC.b-USDC]