Funding you earn now, next payment 21:00 UTC−0.0019%/8h= −2.1% APRnext payment −$0.02 per $10,000 · paid last 24h −0.022%
Price spread now: Coinbase International against Backpack+0.152%7-day average −0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$420.418% of the position
Funding, last 7 days+0.261%+$26 on $10k
+Price spread, last 3 days (all we have)−0.227%−$23 · spread now +0.152%, 7d avg −0.002%
=The price spread pays, funding is against you. Coinbase International is 0.153% dearer against Backpack than usual: you sell high and buy low (spread +0.152% now, against its 7-day average of −0.002%): +$15 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 27 days. Mind the row above: over the last 7 days funding on this pair paid +0.261%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack HBAR_USDC_PERP | 0.09228 | 0.0091 | pay 0.0011% / 1h | 15m 38s | $31K | $103K | 15x |
| Short | Coinbase International HBAR-PERP-INTX | 0.09242 | 0.0072 | get 0.0009% / 1h | 15m 38s | $232K | $2.2M | 50x |
Backpack HBAR_USDC_PERP
Coinbase International HBAR-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Backpack. 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
- −$4
- Price spread: +0.152% → −0.002%
- $15.33
- Slippage, 4 orders
- −$21.77
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$30.44
- Costs to cover
- 0.418%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 7 min ago; Coinbase International: live order book, 3 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 Backpack live order book, 7 min ago | 0.54 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 3 min ago | 1.62 bp | 11.6 bp −$12 | 16.7 bp −$167 | doesn't fit | doesn't fit |
HBAR on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin HBARUSDTM | −0.0023% | 8h | 0.09230 | +0.022% | $7.3M | $7.9M | 75x | as long as short |
| Gate HBAR_USDT | −0.0022% | 8h | 0.09228 | 0.000% | $2.4M | $3.6M | 75x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | 0.0000% | 1h | 0.09231 | +0.033% | $508K | $151K | 50x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09231 | +0.031% | $8K | — | 150x | as long as short |
| Variational Omni HBAR | +0.0054% | 8h | 0.09252 | +0.260% | $1.0M | $197K | — | as long as short |
| Extended HBAR-USD | +0.0064% | 1h | 0.09227 | −0.012% | $49K | $212K | 10x | as long as short |
| Binance HBARUSDT | +0.0066% | 8h | 0.09228 | −0.002% | $34.7M | $110.8M | 75x | as long as short |
| MEXC HBAR_USDT | +0.0067% | 8h | 0.09228 | 0.000% | $24.3M | $22.8M | 200x | as long as short |
| Coinbase International HBAR-PERP-INTXshort | +0.0072% | 1h | 0.09242 | +0.152% | $232K | $2.2M | 50x | |
| Orderly PERP_HBAR_USDC | +0.0076% | 8h | 0.09224 | −0.043% | $2K | $18K | 10x | as long as short |
KuCoin HBARUSDTM
Gate HBAR_USDT
Deribit HBAR_USDC-PERPETUAL
gTrade (Gains Network) HBAR/USD
Variational Omni HBAR
Extended HBAR-USD
Binance HBARUSDT
MEXC HBAR_USDT
Orderly PERP_HBAR_USDCShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Backpack HBAR_USDC_PERPlong | +0.0091% | 1h | 0.09228 | long leg | $31K | $103K | 15x | |
| Lighter HBAR | +0.0096% | 1h | 0.09231 | +0.033% | $567K | $590K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09243 | +0.164% | $8.8M | $2.9M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09225 | −0.031% | $210K | $429K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09227 | −0.011% | $33.0M | $37.1M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09227 | −0.011% | $6.9M | $24.8M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09231 | +0.033% | $17.0M | $14.9M | 75x | as long as short |
| BingX HBAR-USDT | +0.0100% | 8h | 0.09227 | −0.011% | — | $5.9M | — | as long as short |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09259 | +0.340% | $377K | $2.1M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09252 | +0.260% | $148K | $709K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09224 | −0.043% | $428 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09251 | +0.249% | $73K | $52K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09228 | 0.000% | $2.2M | $2.2M | 50x | as long as short |
| BloFin HBAR-USDT | +0.0187% | 8h | 0.09243 | +0.163% | $1.5M | $5.6M | 90x | as long as short |
| Injective HBAR/USDC PERP | +0.0311% | 1h | 0.09234 | +0.065% | $2K | $112K | 12x | as long as short |
| Kraken Futures PF_HBARUSD | +0.0382% | 1h | 0.09235 | +0.071% | $1.4M | $2.4M | 50x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0446% / S −0.0478% | 1h | 0.09230 | +0.021% | $103K | — | 100x | as long as short |
| dYdX HBAR-USD | +0.3560% | 1h | 0.09231 | +0.033% | $30K | $4K | 5x | as long as short |
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDT
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
BloFin HBAR-USDT
Injective HBAR/USDC PERP
Kraken Futures PF_HBARUSD
GMX HBAR/USD [WBTC.b-USDC]
dYdX HBAR-USD