Funding you earn now, next payment 02:00 UTC−0.0477%/8h= −52.2% APRpaid last 24h −0.075%
Price spread now: KuCoin against Hyperliquid+0.002%7-day average −0.269% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1,133as in the Funding arb table
Net, price: spread back to 7d avg − costs−$1,088as in the Price arb table
costs, in and out, $10k−$1,11511.153% of the position
Funding, last 7 days−0.179%−$18 on $10k
+Price spread, last 4 days (all we have)−0.306%−$31 · spread now +0.002%, 7d avg −0.269%
=Together, before fees−0.484%+ Points / potential airdropHyperliquid: Season 2 · farm board−$48 on $10k · with fees, hour by hour
The price spread pays, funding is against you. KuCoin is 0.272% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.002% now, against its 7-day average of −0.269%): +$27 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 46 hours. At the pace of the last 7 days (−0.179% in total) that is about 11 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.179% in total (about -9.3% a year). A funding rate is set anew for every payment. 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 GMX | 8.0538 | 0.0577 | pay 0.0072% / 1h | 5m 52s | $902K | $158K | 3x |
| Short | KuCoin GMXUSDTM | 8.0540 | 0.0100 | get 0.0100% / 8h | 6h 05m | $181K | $31K | 30x |
Hyperliquid GMX
KuCoin GMXUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$100.12
- Price spread: +0.002% → −0.269%
- $27.18
- Slippage, 4 orders
- −$1,094.33
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$1,188.28
- Costs to cover
- 11.153%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 44 min ago; KuCoin: live order book, 29 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, 44 min ago | 0.68 bp | 26.0 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 29 min ago | 27.79 bp | 520.1 bp −$520 | doesn't fit | doesn't fit | doesn't fit |
GMX on 14 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective GMX/USDC PERP | −0.5000% | 1h | 7.5700 | −6.007% | $4K | $4K | 5.5x | as long as short |
| Kraken Futures PF_GMXUSD | −0.0548% | 1h | 8.0421 | −0.145% | $33K | $569 | 10x | as long as short |
| Binance GMXUSDT | +0.0100% | 8h | 8.0420 | −0.147% | $2.3M | $1.9M | 50x | as long as short |
| Bybit GMXUSDT | +0.0100% | 8h | 8.0400 | −0.171% | $839K | $252K | 20x | as long as short |
| OKX GMX-USDT-SWAP | +0.0100% | 8h | 8.0400 | −0.171% | $296K | $516K | 20x | as long as short |
| Gate GMX_USDT | +0.0100% | 8h | 8.0500 | −0.047% | $198K | $78K | 33x | as long as short |
| MEXC GMX_USDT | +0.0100% | 8h | 8.0400 | −0.171% | $378K | $181K | 125x | as long as short |
| KuCoin GMXUSDTMshort | +0.0100% | 8h | 8.0540 | +0.002% | $181K | $31K | 30x | |
| Bitget GMXUSDT | +0.0100% | 8h | 8.0330 | −0.258% | $404K | $207K | 50x | as long as short |
| BingX GMX-USDT | +0.0100% | 8h | 8.0400 | −0.171% | — | $2.3M | — | as long as short |
Injective GMX/USDC PERP
Kraken Futures PF_GMXUSD
Binance GMXUSDT
Bybit GMXUSDT
OKX GMX-USDT-SWAP
Gate GMX_USDT
MEXC GMX_USDT
Bitget GMXUSDT
BingX GMX-USDTShow all 14 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni GMX | +0.0100% | 8h | 8.0431 | −0.133% | $21K | $54K | — | as long as short |
| GMX GMX/USD [GMX-USDC] | L +0.0417% / S −0.0141% | 1h | 8.0381 | −0.195% | $394K | — | 100x | as long as short |
| Lighter GMX | +0.0576% | 1h | 8.0586 | +0.060% | $76K | $92K | 5x | as long as short |
| Hyperliquid GMXlong | +0.0577% | 1h | 8.0538 | long leg | $902K | $158K | 3x |
Variational Omni GMX
GMX GMX/USD [GMX-USDC]
Lighter GMX