Funding you earn now, next payment 23:00 UTC−0.4324%/8h= −473.5% APRnext payment −$5.41 per $10,000 · paid last 24h −0.384%
Price spread now: Deribit against Hyperliquid−0.318%7-day average −0.065% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$65as 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)+0.078%+$8 · spread now −0.318%, 7d avg −0.065%
=Together, before fees−0.473%+ Points / potential airdropHyperliquid: Season 2 · farm board−$47 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$130 a day on $10k at the current rate, and Deribit is 0.252% cheaper against Hyperliquid than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.065%). Swap the legs.
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 −$5.41 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 | 0.2014 | 0.0112 | pay 0.0014% / 1h | 56m 47s | $8.9M | $7.8M | 5x |
| Short | Deribit FET_USDC-PERPETUAL | 0.2008 | −0.4212 | pay 0.0527% / 1h | 56m 47s | $27K | $200K | 10x |
Hyperliquid FET
Deribit FET_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$908.14
- Price spread: −0.318% → −0.065%
- −$25.23
- Slippage, 4 orders
- −$23.69
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$973.06
- Costs to cover
- 0.397%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 6 min ago; Deribit: live order book, 27 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, 6 min ago | 1.00 bp | 7.7 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 27 min ago | 7.42 bp | 10.9 bp −$11 | 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-PERPETUALshort | −0.4212% | 1h | 0.2008 | −0.318% | $27K | $200K | 10x | |
| Coinbase International FET-PERP-INTX | −0.0744% | 1h | 0.2010 | −0.218% | $158K | $190K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2006 | −0.408% | $31K | — | 150x | as long as short |
| Gate FET_USDT | +0.0008% | 8h | 0.2008 | −0.318% | $2.7M | $11.8M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2010 | −0.218% | $341K | $533K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2015 | +0.018% | $31.4M | $107.2M | 75x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2014 | −0.020% | $34.7M | $25.0M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2013 | −0.069% | $10.4M | $19.1M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.1999 | −0.743% | $271K | $316K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2007 | −0.367% | $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 | |
|---|---|---|---|---|---|---|---|---|
| Extended FET-USD | +0.0104% | 1h | 0.2010 | −0.219% | $33K | $189K | 10x | as long as short |
| Hyperliquid FETlong | +0.0112% | 1h | 0.2014 | long leg | $8.9M | $7.8M | 5x | |
| OKX FET-USDT-SWAP | +0.0131% | 4h | 0.2017 | +0.129% | $856K | $7.5M | 20x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2006 | −0.426% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2009 | −0.268% | $1.7M | $2.6M | 100x | as long as short |
| BingX FET-USDT | +0.0247% | 8h | 0.2011 | −0.169% | — | $5.6M | — | as long as short |
| Bitget FETUSDT | +0.0267% | 8h | 0.2016 | +0.079% | $16.4M | $11.4M | 75x | as long as short |
| Kraken Futures PF_FETUSD | +0.0360% | 1h | 0.2012 | −0.127% | $1.0M | $2.2M | 50x | as long as short |
| Phoenix FET | +0.0476% | 1h | 0.2006 | −0.402% | $27K | $36K | 5x | as long as short |
| Injective FET/USDC PERP | +0.0553% | 1h | 0.2010 | −0.218% | $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