Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.191%
Price spread now: Deribit against Hyperliquid+0.060%7-day average −0.091% · you sell dearer than you buy
Net, funding: paid 7d − costs−$239as in the Funding arb table
Net, price: spread back to 7d avg − costs−$164as in the Price arb table
costs, in and out, $10k−$1791.791% of the position
Funding, last 7 days−0.599%−$60 on $10k
+Price spread, last 4 days (all we have)−0.322%−$32 · spread now +0.060%, 7d avg −0.091%
=Together, before fees−0.921%+ Points / potential airdropHyperliquid: Season 2 · farm board−$92 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Deribit is 0.150% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of −0.091%): +$15 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.0 days. At the pace of the last 7 days (−0.599% in total) that is about 42 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid FIL | 1.0036 | 0.0100 | pay 0.0013% / 1h | 44m 47s | $8.6M | $9.5M | 5x |
| Short | Deribit FIL_USDC-PERPETUAL | 1.0042 | 0 | get 0.0000% / 1h | 44m 47s | $173K | $23K | 25x |
Hyperliquid FIL
Deribit FIL_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
- −$21
- Price spread: +0.060% → −0.091%
- $15.04
- Slippage, 4 orders
- −$163.15
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$185.1
- Costs to cover
- 1.791%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; Deribit: live order book, 19 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, 8 min ago | 1.49 bp | 11.1 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 19 min ago | 75.24 bp | 78.7 bp −$79 | doesn't fit | doesn't fit | doesn't fit |
FIL on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International FIL-PERP-INTX | −0.0256% | 1h | 1.0017 | −0.189% | $379K | $2.1M | 50x | as long as short |
| Kraken Futures PF_FILUSD | −0.0127% | 1h | 1.0034 | −0.018% | $1.4M | $2.3M | 50x | as long as short |
| OKX FIL-USDT-SWAP | −0.0066% | 8h | 1.0031 | −0.050% | $18.9M | $99.8M | 50x | as long as short |
| KuCoin FILUSDTM | −0.0038% | 8h | 1.0041 | +0.050% | $7.4M | $7.2M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 1.0035 | −0.006% | $26K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 1.0038 | +0.020% | $59K | $2K | 10x | as long as short |
| Deribit FIL_USDC-PERPETUALshort | 0.0000% | 1h | 1.0042 | +0.060% | $173K | $23K | 25x | |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9855 | −1.804% | $2K | $240K | 12x | as long as short |
| Binance FILUSDT | +0.0054% | 8h | 1.0036 | −0.004% | $58.1M | $177.4M | 75x | as long as short |
| Extended FIL-USD | +0.0056% | 1h | 1.0035 | −0.007% | $705K | $3.3M | 10x | as long as short |
Coinbase International FIL-PERP-INTX
Kraken Futures PF_FILUSD
OKX FIL-USDT-SWAP
KuCoin FILUSDTM
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Injective FIL/USDC PERP
Binance FILUSDT
Extended FIL-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC FIL_USDC | +0.0082% | 8h | 1.0033 | −0.030% | $243K | $103K | 50x | as long as short |
| Lighter FIL | +0.0096% | 1h | 1.0034 | −0.020% | $160K | $352K | 5x | as long as short |
| Hyperliquid FILlong | +0.0100% | 1h | 1.0036 | long leg | $8.6M | $9.5M | 5x | |
| Aster FILUSDT | +0.0100% | 8h | 1.0039 | +0.028% | $512K | $576K | 20x | as long as short |
| Bybit FILUSDT | +0.0100% | 8h | 1.0033 | −0.030% | $15.8M | $19.1M | 25x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 1.0035 | −0.010% | $8.5M | $16.3M | 50x | as long as short |
| Bitget FILUSDT | +0.0100% | 8h | 1.0032 | −0.040% | $11.0M | $20.0M | 75x | as long as short |
| BingX FIL-USDC | +0.0100% | 8h | 1.0032 | −0.040% | — | $6.5M | — | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 1.0000 | −0.361% | $449K | $266K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9980 | −0.554% | $46K | $296K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9979 | −0.568% | $299K | $869K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 1.0020 | −0.159% | $30K | $185K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 1.0044 | +0.077% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 1.0030 | −0.060% | $2K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 1.0029 | −0.070% | $485 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 1.0040 | +0.040% | $641K | $5.7M | 75x | as long as short |
| Phemex FILUSDT | +0.0100% | 8h | 1.0020 | −0.159% | $1.1M | $2.5M | 50x | as long as short |
| BloFin FIL-USDT | +0.0174% | 8h | 1.0035 | −0.010% | — | $639K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0575% / S −0.0237% | 1h | 1.0035 | −0.006% | $268K | — | 100x | as long as short |
MEXC FIL_USDC
Lighter FIL
Aster FILUSDT
Bybit FILUSDT
Gate FIL_USDT
Bitget FILUSDT
BingX FIL-USDC
Variational Omni FIL
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Phemex FILUSDT
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]