Funding you earn now, next payment 22:00 UTC+0.0901%/8h= +98.7% APRnext payment +$1.13 per $10,000 · paid last 24h +0.052%
Price spread now: Hyperliquid against Coinbase International+0.124%7-day average −0.271% · you sell dearer than you buy
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$670.673% of the position
Funding, last 7 days+0.325%+$33 on $10k
+Price spread, last 3 days (all we have)−0.018%−$2 · spread now +0.124%, 7d avg −0.271%
=Together, before fees+0.308%+ Points / potential airdropHyperliquid: Season 2 · farm board+$31 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and Hyperliquid is 0.394% dearer against Coinbase International than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of −0.271%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.325% in total (about 17.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.13 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 | Coinbase International FET-PERP-INTX | 0.2022 | −0.0744 | get 0.0093% / 1h | 41m 04s | $158K | $191K | 50x |
| Short | Hyperliquid FET | 0.2024 | 0.0157 | get 0.0020% / 1h | 41m 04s | $9.0M | $7.9M | 5x |
Coinbase International FET-PERP-INTX
Hyperliquid FETFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Coinbase International. 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
- $189.22
- Price spread: +0.124% → −0.271%
- $39.43
- Slippage, 4 orders
- −$48.29
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $161.35
- Costs to cover
- 0.673%
- Break-even
- 1.0 days
Slippage from Coinbase International: live order book, 42 min ago; Hyperliquid: live order book, 11 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 Coinbase International live order book, 42 min ago | 12.39 bp | 31.0 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.75 bp | 9.7 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
FET on 20 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 FET_USDC-PERPETUAL | −0.4181% | 1h | 0.2022 | 0.000% | $27K | $200K | 10x | as long as short |
| Coinbase International FET-PERP-INTXlong | −0.0744% | 1h | 0.2022 | long leg | $158K | $191K | 50x | |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2023 | +0.056% | $32K | — | 150x | as long as short |
| Gate FET_USDT | +0.0053% | 8h | 0.2022 | 0.000% | $2.7M | $11.9M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2025 | +0.171% | $343K | $534K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2023 | +0.028% | $31.6M | $107.3M | 75x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2022 | 0.000% | $34.8M | $25.1M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2022 | 0.000% | $10.4M | $19.1M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2011 | −0.529% | $273K | $316K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2020 | −0.099% | $37K | $5K | 10x | as long as short |
Deribit FET_USDC-PERPETUAL
gTrade (Gains Network) FET/USD
Gate FET_USDT
Aster FETUSDT
Binance FETUSDT
MEXC FET_USDT
KuCoin FETUSDTM
Variational Omni FET
Orderly PERP_FET_USDCShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended FET-USD | +0.0104% | 1h | 0.2022 | −0.019% | $34K | $190K | 10x | as long as short |
| Hyperliquid FETshort | +0.0157% | 1h | 0.2024 | +0.124% | $9.0M | $7.9M | 5x | |
| OKX FET-USDT-SWAP | +0.0173% | 4h | 0.2026 | +0.198% | $859K | $7.6M | 20x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2020 | −0.079% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2022 | 0.000% | $1.7M | $2.6M | 100x | as long as short |
| BingX FET-USDT | +0.0290% | 8h | 0.2024 | +0.099% | — | $5.6M | — | as long as short |
| Bitget FETUSDT | +0.0312% | 8h | 0.2024 | +0.099% | $16.5M | $11.4M | 75x | as long as short |
| Kraken Futures PF_FETUSD | +0.0358% | 1h | 0.2025 | +0.131% | $1.0M | $2.2M | 50x | as long as short |
| Injective FET/USDC PERP | +0.0553% | 1h | 0.2010 | −0.593% | $3K | $166K | 12x | as long as short |
| Phoenix FET | +0.0599% | 1h | 0.2025 | +0.148% | $27K | $36K | 5x | as long as short |
Extended FET-USD
OKX FET-USDT-SWAP
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
BingX FET-USDT
Bitget FETUSDT
Kraken Futures PF_FETUSD
Injective FET/USDC PERP
Phoenix FET