Funding you earn now, next payment 23:00 UTC−0.0263%/8h= −28.8% APRpaid last 24h −0.116%
Price spread now: Hyperliquid against Phemex+0.067%48s7-day average −0.167% · you sell dearer than you buy
Net, funding: paid 7d − costs−$135as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$570.569% of the position
Funding, last 7 days−0.777%−$78 on $10k
+Price spread, last 3 days (all we have)−0.050%−$5 · spread now +0.067%, 7d avg −0.167%
=Together, before fees−0.828%+ Points / potential airdropHyperliquid: Season 2 · farm board−$83 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.234% dearer against Phemex than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of −0.167%): +$23 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 3.0 days. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex DOTUSDT | 1.1910 | 0.0363 | pay 0.0363% / 8h | 1h 57m | $2.2M | $2.1M | 50x |
| Short | Hyperliquid DOT | 1.1918 | 0.0100 | get 0.0013% / 1h | 57m 24s | $5.3M | $3.2M | 10x |
Phemex DOTUSDT
Hyperliquid DOTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Phemex. 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
- −$55.29
- Price spread: +0.067% → −0.167%
- $23.38
- Slippage, 4 orders
- −$35.86
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$88.77
- Costs to cover
- 0.569%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 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 Phemex live order book, 1 min ago | 4.20 bp | 23.8 bp −$24 | 62.1 bp −$621 | 112.8 bp −$11.3K | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 0.84 bp | 7.7 bp −$8 | 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-PERPETUAL | −0.1345% | 1h | 1.1894 | −0.134% | $217K | $117K | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1911 | +0.010% | $258 | — | — | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0128% | 1h | 1.1890 | −0.168% | $183K | $1.8M | 50x | as long as short |
| Kraken Futures PF_DOTUSD | −0.0054% | 1h | 1.1895 | −0.122% | $4.4M | $1.3M | 50x | as long as short |
| Injective DOT/USDC PERP | −0.0040% | 1h | 1.2020 | +0.924% | $328 | $121K | 12x | as long as short |
| OKX DOT-USDT-SWAP | −0.0025% | 8h | 1.1905 | −0.042% | $9.4M | $23.3M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1916 | +0.050% | $143K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1926 | +0.136% | $5K | — | 150x | as long as short |
| KuCoin DOTUSDTM | +0.0016% | 8h | 1.1907 | −0.025% | $6.8M | $8.7M | 75x | as long as short |
| Extended DOT-USD | +0.0048% | 1h | 1.1903 | −0.059% | $15K | $235K | 25x | as long as short |
Deribit DOT_USDC-PERPETUAL
Reya DOTRUSDPERP
Coinbase International DOT-PERP-INTX
Kraken Futures PF_DOTUSD
Injective DOT/USDC PERP
OKX DOT-USDT-SWAP
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
KuCoin DOTUSDTM
Extended DOT-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance DOTUSDT | +0.0050% | 8h | 1.1907 | −0.025% | $43.8M | $80.7M | 75x | as long as short |
| MEXC DOT_USDT | +0.0052% | 8h | 1.1909 | −0.008% | $35.7M | $35.6M | 300x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1912 | +0.015% | $250K | $593K | 10x | as long as short |
| Hyperliquid DOTshort | +0.0100% | 1h | 1.1918 | +0.067% | $5.3M | $3.2M | 10x | |
| Aster DOTUSDT | +0.0100% | 8h | 1.1905 | −0.043% | $884K | $649K | 50x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.1906 | −0.034% | $24.3M | $17.9M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1910 | 0.000% | $6.8M | $11.3M | 75x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1904 | −0.050% | $22.8M | $14.0M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.1904 | −0.050% | — | $28.5M | — | as long as short |
| Backpack DOT_USDC_PERP | +0.0100% | 1h | 1.1887 | −0.193% | $98K | $127K | 10x | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.1901 | −0.075% | $541K | $92K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1893 | −0.140% | $35K | $331K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1897 | −0.109% | $230K | $469K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1890 | −0.168% | $8K | $25K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1908 | −0.017% | $2K | $1.2M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1892 | −0.151% | $245K | $219K | 75x | as long as short |
| BloFin DOT-USDT | +0.0175% | 8h | 1.1895 | −0.126% | $2.2M | $767K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0297% / S −0.0774% | 1h | 1.1921 | +0.092% | $22K | — | 100x | as long as short |
| Phemex DOTUSDTlong | +0.0363% | 8h | 1.1910 | long leg | $2.2M | $2.1M | 50x |
Binance DOTUSDT
MEXC DOT_USDT
Lighter DOT
Aster DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
Bitget DOTUSDT
BingX DOT-USDT
Backpack DOT_USDC_PERP
Variational Omni DOT
edgeX DOTUSDC
GRVT DOT_USDT_Perp
Orderly PERP_DOT_USDC
SunX DOT-USDT
HTX DOT-USDT
BloFin DOT-USDT
GMX DOT/USD [WBTC.b-USDC]