Funding you earn now, next payment 23:00 UTC+0.4316%/8h= +472.6% APRnext payment +$5.39 per $10,000 · paid last 24h +0.384%
Price spread now: Hyperliquid against Deribit+0.085%7-day average +0.065% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$400.397% of the position
Funding, last 6 days (all we have)+0.550%+$55 on $10k
+Price spread, last 3 days (all we have)+0.156%+$16 · spread now +0.085%, 7d avg +0.065%
=Together, before fees+0.706%+ Points / potential airdropHyperliquid: Season 2 · farm board+$71 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.065%, so right now this pair is about funding alone: +$129 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid 0.550% in total (about 36.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.39 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 | Deribit FET_USDC-PERPETUAL | 0.2008 | −0.4212 | get 0.0527% / 1h | 56m 51s | $27K | $200K | 10x |
| Short | Hyperliquid FET | 0.2010 | 0.0104 | get 0.0013% / 1h | 56m 51s | $8.9M | $7.8M | 5x |
Deribit FET_USDC-PERPETUAL
Hyperliquid FETFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Deribit. 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
- $906.29
- Price spread: +0.085% → +0.065%
- $1.92
- Slippage, 4 orders
- −$23.69
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $868.52
- Costs to cover
- 0.397%
- Break-even
- 0.3 days
Slippage from Deribit: live order book, 27 min ago; Hyperliquid: live order book, 6 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 Deribit live order book, 27 min ago | 7.42 bp | 10.9 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 6 min ago | 1.00 bp | 10.2 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-PERPETUALlong | −0.4212% | 1h | 0.2008 | long leg | $27K | $200K | 10x | |
| Coinbase International FET-PERP-INTX | −0.0744% | 1h | 0.2010 | +0.100% | $158K | $190K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2006 | −0.090% | $31K | — | 150x | as long as short |
| Gate FET_USDT | +0.0008% | 8h | 0.2008 | 0.000% | $2.7M | $11.8M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2010 | +0.100% | $341K | $533K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2011 | +0.130% | $31.4M | $107.2M | 75x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2009 | +0.050% | $34.6M | $25.0M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2009 | +0.050% | $10.3M | $19.1M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.1999 | −0.427% | $271K | $316K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2007 | −0.050% | $37K | $5K | 10x | as long as short |
Coinbase International FET-PERP-INTX
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 | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid FETshort | +0.0104% | 1h | 0.2010 | +0.085% | $8.9M | $7.8M | 5x | |
| Extended FET-USD | +0.0104% | 1h | 0.2010 | +0.099% | $33K | $189K | 10x | as long as short |
| OKX FET-USDT-SWAP | +0.0131% | 4h | 0.2016 | +0.398% | $856K | $7.5M | 20x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2006 | −0.109% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2009 | +0.050% | $1.7M | $2.6M | 100x | as long as short |
| BingX FET-USDT | +0.0247% | 8h | 0.2011 | +0.149% | — | $5.6M | — | as long as short |
| Bitget FETUSDT | +0.0267% | 8h | 0.2012 | +0.199% | $16.4M | $11.3M | 75x | as long as short |
| Kraken Futures PF_FETUSD | +0.0360% | 1h | 0.2012 | +0.192% | $1.0M | $2.2M | 50x | as long as short |
| Phoenix FET | +0.0476% | 1h | 0.2006 | −0.085% | $27K | $36K | 5x | as long as short |
| Injective FET/USDC PERP | +0.0553% | 1h | 0.2010 | +0.100% | $3K | $166K | 12x | 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
Phoenix FET
Injective FET/USDC PERP