Funding you earn now, next payment 22:00 UTC−0.0885%/8h= −96.9% APRnext payment −$1.11 per $10,000 · paid last 24h −0.052%
Price spread now: Coinbase International against Hyperliquid−0.188%7-day average +0.271% · you buy dearer than you sell
Net, funding: paid 7d − costs−$100as in the Funding arb table
Net, price: spread back to 7d avg − costs−$113as 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)+0.082%+$8 · spread now −0.188%, 7d avg +0.271%
=Together, before fees−0.244%+ Points / potential airdropHyperliquid: Season 2 · farm board−$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Coinbase International is 0.458% cheaper against Hyperliquid than usual: you would sell low and buy high (−$46 if the spread goes back to its 7-day average of +0.271%). Swap the legs.
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 −$1.11 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 | Hyperliquid FET | 0.2026 | 0.0141 | pay 0.0018% / 1h | 41m 50s | $9.0M | $7.9M | 5x |
| Short | Coinbase International FET-PERP-INTX | 0.2022 | −0.0744 | pay 0.0093% / 1h | 41m 50s | $158K | $191K | 50x |
Hyperliquid FET
Coinbase International FET-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$185.77
- Price spread: −0.188% → +0.271%
- −$45.82
- Slippage, 4 orders
- −$48.29
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$298.89
- Costs to cover
- 0.673%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 11 min ago; Coinbase International: live order book, 41 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 Hyperliquid live order book, 11 min ago | 0.75 bp | 9.1 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 41 min ago | 12.39 bp | 17.4 bp −$17 | 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 | −0.4183% | 1h | 0.2021 | −0.237% | $27K | $200K | 10x | as long as short |
| Coinbase International FET-PERP-INTXshort | −0.0744% | 1h | 0.2022 | −0.188% | $158K | $191K | 50x | |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2021 | −0.216% | $32K | — | 150x | as long as short |
| Gate FET_USDT | +0.0051% | 8h | 0.2021 | −0.237% | $2.7M | $11.9M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2027 | +0.042% | $343K | $534K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2024 | −0.098% | $31.6M | $107.3M | 75x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2023 | −0.138% | $34.9M | $25.1M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2023 | −0.138% | $10.4M | $19.1M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2011 | −0.715% | $273K | $316K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2021 | −0.237% | $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 | −0.169% | $34K | $190K | 10x | as long as short |
| Hyperliquid FETlong | +0.0141% | 1h | 0.2026 | long leg | $9.0M | $7.9M | 5x | |
| OKX FET-USDT-SWAP | +0.0173% | 4h | 0.2027 | +0.059% | $859K | $7.6M | 20x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2021 | −0.232% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2018 | −0.385% | $1.7M | $2.6M | 100x | as long as short |
| BingX FET-USDT | +0.0290% | 8h | 0.2025 | −0.039% | — | $5.6M | — | as long as short |
| Bitget FETUSDT | +0.0310% | 8h | 0.2026 | +0.010% | $16.5M | $11.4M | 75x | as long as short |
| Kraken Futures PF_FETUSD | +0.0358% | 1h | 0.2024 | −0.078% | $1.0M | $2.2M | 50x | as long as short |
| Injective FET/USDC PERP | +0.0553% | 1h | 0.2010 | −0.780% | $3K | $166K | 12x | as long as short |
| Phoenix FET | +0.0599% | 1h | 0.2016 | −0.469% | $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