Funding you earn now, next payment 02:00 UTC−0.0303%/8h= −33.2% APRpaid last 24h −0.078%
Price spread now: Orderly against Hyperliquid−0.098%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Orderly is 0.098% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ETHFI | 0.7209 | 0.0100 | pay 0.0013% / 1h | 11m 13s | $18.1M | $8.4M | 5x |
| Short | Orderly PERP_ETHFI_USDC | 0.7202 | −0.0203 | pay 0.0102% / 4h | 2h 11m | $16K | $1K | 10x |
Hyperliquid ETHFI
Orderly PERP_ETHFI_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$63.68
- Price spread: −0.098% → 0.000%
- −$9.85
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$88.53
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 12 min ago; Orderly: no order-book sample. 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 Hyperliquid live order book, 12 min ago | 0.62 bp | 9.9 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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.
ETHFI on 23 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 ETHFI_USDC-PERPETUAL | −0.0444% | 1h | 0.7204 | −0.071% | $41K | $13K | 10x | as long as short |
| Orderly PERP_ETHFI_USDCshort | −0.0203% | 4h | 0.7202 | −0.098% | $16K | $1K | 10x | |
| HTX ETHFI-USDT | −0.0154% | 4h | 0.7200 | −0.126% | $89K | $168K | 20x | as long as short |
| Variational Omni ETHFI | +0.0029% | 4h | 0.7214 | +0.063% | $1.1M | $717K | — | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +0.429% | $321 | $51K | 5.5x | as long as short |
| Paradex ETHFI-USD-PERP | +0.0059% | 8h | 0.7196 | −0.176% | $6K | — | 5x | as long as short |
| Lighter ETHFI | +0.0096% | 1h | 0.7212 | +0.047% | $1.1M | $887K | 5x | as long as short |
| Hyperliquid ETHFIlong | +0.0100% | 1h | 0.7209 | long leg | $18.1M | $8.4M | 5x | |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.7201 | −0.112% | $184K | $258K | 10x | as long as short |
| Binance ETHFIUSDT | +0.0100% | 4h | 0.7202 | −0.098% | $25.0M | $36.0M | 75x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
HTX ETHFI-USDT
Variational Omni ETHFI
Injective ETHFI/USDC PERP
Paradex ETHFI-USD-PERP
Lighter ETHFI
Aster ETHFIUSDT
Binance ETHFIUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ETHFIUSDT | +0.0100% | 4h | 0.7205 | −0.057% | $18.1M | $12.6M | 25x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7208 | −0.015% | $5.1M | $12.4M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7201 | −0.112% | $1.7M | $2.0M | 75x | as long as short |
| MEXC ETHFI_USDT | +0.0100% | 4h | 0.7201 | −0.112% | $15.6M | $4.0M | 125x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7200 | −0.126% | $1.2M | $256K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.7201 | −0.112% | $6.2M | $5.4M | 75x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.7199 | −0.140% | — | $1.2M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7218 | +0.117% | $72K | $118K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7197 | −0.168% | $2K | $1.1M | 20x | as long as short |
| Extended ETHFI-USD | +0.0104% | 1h | 0.7199 | −0.137% | $98K | $376K | 10x | as long as short |
| Aevo ETHFI-PERP | +0.0104% | 1h | 0.7200 | −0.126% | $9K | — | 3x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0160% | 1h | 0.7253 | +0.609% | $32K | $6K | 50x | as long as short |
| Kraken Futures PF_ETHFIUSD | +0.0225% | 1h | 0.7210 | +0.008% | $273K | $182K | 20x | as long as short |
Bybit ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
MEXC ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDC
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
Extended ETHFI-USD
Aevo ETHFI-PERP
Coinbase International ETHFI-PERP-INTX
Kraken Futures PF_ETHFIUSD