Funding you earn now, next payment 23:00 UTC+0.0039%/8h= +4.2% APRnext payment +$0.05 per $10,000 · paid last 24h +0.018%
Price spread now: Hyperliquid against Backpack+0.220%7-day average +0.085% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.343%+$34 on $10k
+Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.220%, 7d avg +0.085%
=Together, before fees+0.252%+ Points / potential airdropHyperliquid: Season 2 · farm board+$25 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.135% dearer against Backpack than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.085%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack HBAR_USDC_PERP | 0.09187 | 0.0100 | pay 0.0013% / 1h | 57m 48s | $32K | $103K | 15x |
| Short | Hyperliquid HBAR | 0.09207 | 0.0139 | get 0.0017% / 1h | 57m 48s | $8.8M | $2.9M | 5x |
Backpack HBAR_USDC_PERP
Hyperliquid HBARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $8.09
- Price spread: +0.220% → +0.085%
- $13.51
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $2.59
- Costs to cover
- 0.190%
- Break-even
- 4.8 days
Slippage unknown: Backpack: live order book, 25 min ago; Hyperliquid: live order book, 5 min ago. Net counts fees only.
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, 25 min ago | 0.54 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 0.49 bp | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective HBAR/USDC PERP | −0.0153% | 1h | 0.09234 | +0.512% | $2K | $112K | 12x | as long as short |
| Gate HBAR_USDT | −0.0041% | 8h | 0.09189 | +0.022% | $2.4M | $3.5M | 75x | as long as short |
| KuCoin HBARUSDTM | −0.0018% | 8h | 0.09183 | −0.044% | $7.4M | $7.9M | 75x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09190 | +0.037% | $30K | $4K | 5x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | 0.0000% | 1h | 0.09190 | +0.033% | $506K | $151K | 50x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09191 | +0.039% | $8K | — | 150x | as long as short |
| Variational Omni HBAR | +0.0048% | 8h | 0.09185 | −0.021% | $1.0M | $197K | — | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0064% | 1h | 0.09185 | −0.022% | $221K | $2.2M | 50x | as long as short |
| Extended HBAR-USD | +0.0072% | 1h | 0.09186 | −0.014% | $51K | $218K | 10x | as long as short |
| MEXC HBAR_USDT | +0.0072% | 8h | 0.09188 | +0.011% | $24.2M | $22.0M | 200x | as long as short |
Injective HBAR/USDC PERP
Gate HBAR_USDT
KuCoin HBARUSDTM
dYdX HBAR-USD
Deribit HBAR_USDC-PERPETUAL
gTrade (Gains Network) HBAR/USD
Variational Omni HBAR
Coinbase International HBAR-PERP-INTX
Extended HBAR-USD
MEXC HBAR_USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance HBARUSDT | +0.0073% | 8h | 0.09188 | +0.011% | $34.5M | $110.6M | 75x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0076% | 8h | 0.09184 | −0.033% | $2K | $16K | 10x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09185 | −0.022% | $564K | $590K | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09185 | −0.025% | $209K | $429K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09196 | +0.098% | $32.8M | $37.0M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09197 | +0.109% | $6.8M | $24.7M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09197 | +0.109% | $17.0M | $14.8M | 75x | as long as short |
| BingX HBAR-USDT | +0.0100% | 8h | 0.09188 | +0.011% | — | $5.9M | — | as long as short |
| Backpack HBAR_USDC_PERPlong | +0.0100% | 1h | 0.09187 | long leg | $32K | $103K | 15x | |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09184 | −0.028% | $374K | $2.1M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09185 | −0.022% | $147K | $709K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09184 | −0.033% | $426 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09211 | +0.261% | $72K | $53K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09184 | −0.033% | $2.2M | $2.1M | 50x | as long as short |
| Hyperliquid HBARshort | +0.0139% | 1h | 0.09207 | +0.220% | $8.8M | $2.9M | 5x | |
| BloFin HBAR-USDT | +0.0193% | 8h | 0.09186 | −0.011% | $1.4M | $5.5M | 90x | as long as short |
| Kraken Futures PF_HBARUSD | +0.0195% | 1h | 0.09191 | +0.044% | $1.4M | $2.3M | 50x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0445% / S −0.0478% | 1h | 0.09189 | +0.026% | $103K | — | 100x | as long as short |
Binance HBARUSDT
Orderly PERP_HBAR_USDC
Lighter 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
Kraken Futures PF_HBARUSD
GMX HBAR/USD [WBTC.b-USDC]