Funding you earn now, next payment 23:00 UTC+0.0291%/8h= +31.9% APRpaid last 24h +0.070%
Price spread now: Hyperliquid against Orderly+0.204%7-day average — · you sell dearer than you buy
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 for this trade now. Funding pays +$9 a day on $10k at the current rate, and Hyperliquid is 0.204% dearer against Orderly than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_ETHFI_USDC | 0.7189 | −0.0191 | get 0.0096% / 4h | 1h 02m | $16K | $1K | 10x |
| Short | Hyperliquid ETHFI | 0.7204 | 0.0100 | get 0.0013% / 1h | 2m 06s | $18.2M | $8.9M | 5x |
Orderly PERP_ETHFI_USDC
Hyperliquid ETHFIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Orderly. 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
- $61.13
- Price spread: +0.204% → 0.000%
- $20.45
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $66.58
- Costs to cover
- 0.150%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 11 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 11 min ago | 0.56 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
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 24 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 | −0.0445% | 1h | 0.7192 | +0.042% | $42K | $18K | 10x | as long as short |
| HTX ETHFI-USDT | −0.0307% | 4h | 0.7173 | −0.223% | $83K | $165K | 20x | as long as short |
| Kraken Futures PF_ETHFIUSD | −0.0251% | 1h | 0.7201 | +0.166% | $283K | $148K | 20x | as long as short |
| Orderly PERP_ETHFI_USDClong | −0.0191% | 4h | 0.7189 | long leg | $16K | $1K | 10x | |
| MEXC ETHFI_USDT | +0.0020% | 4h | 0.7190 | +0.014% | $15.2M | $3.8M | 125x | as long as short |
| Binance ETHFIUSDT | +0.0023% | 4h | 0.7191 | +0.028% | $24.9M | $37.2M | 75x | as long as short |
| Extended ETHFI-USD | +0.0024% | 1h | 0.7187 | −0.030% | $93K | $493K | 10x | as long as short |
| Paradex ETHFI-USD-PERP | +0.0033% | 8h | 0.7190 | +0.010% | $6K | — | 5x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +0.709% | $321 | $51K | 5.5x | as long as short |
| BloFin ETHFI-USDT | +0.0086% | 4h | 0.7189 | 0.000% | $1.2M | $293K | 75x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
HTX ETHFI-USDT
Kraken Futures PF_ETHFIUSD
MEXC ETHFI_USDT
Binance ETHFIUSDT
Extended ETHFI-USD
Paradex ETHFI-USD-PERP
Injective ETHFI/USDC PERP
BloFin ETHFI-USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo ETHFI-PERP | +0.0088% | 1h | 0.7196 | +0.098% | $9K | — | 3x | as long as short |
| Lighter ETHFI | +0.0096% | 1h | 0.7197 | +0.107% | $1.1M | $898K | 5x | as long as short |
| Hyperliquid ETHFIshort | +0.0100% | 1h | 0.7204 | +0.204% | $18.2M | $8.9M | 5x | |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.7194 | +0.070% | $184K | $259K | 10x | as long as short |
| Bybit ETHFIUSDT | +0.0100% | 4h | 0.7196 | +0.097% | $18.3M | $13.0M | 25x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7196 | +0.097% | $4.9M | $12.6M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7196 | +0.097% | $1.7M | $2.1M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7197 | +0.111% | $1.2M | $272K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.7192 | +0.042% | $6.1M | $5.7M | 75x | as long as short |
| BingX ETHFI-USDT | +0.0100% | 4h | 0.7192 | +0.042% | — | $26.1M | — | as long as short |
| Variational Omni ETHFI | +0.0100% | 4h | 0.7181 | −0.111% | $1.0M | $755K | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7191 | +0.026% | $60K | $93K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7189 | 0.000% | $2K | $1.1M | 20x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0304% | 1h | 0.7198 | +0.125% | $31K | $6K | 50x | as long as short |
Aevo ETHFI-PERP
Lighter ETHFI
Aster ETHFIUSDT
Bybit ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDT
Variational Omni ETHFI
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
Coinbase International ETHFI-PERP-INTX