Funding you earn now, next payment 00:00 UTC+0.0044%/8h= +4.8% APRnext payment +$0.06 per $10,000 · paid last 24h +0.018%
Price spread now: Backpack against Coinbase International−0.022%7-day average +0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$410.408% of the position
Funding, last 7 days−0.225%−$23 on $10k
+Price spread, last 3 days (all we have)+0.047%+$5 · spread now −0.022%, 7d avg +0.002%
=Funding pays, the price is against you. Backpack is 0.024% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.022% now, against its 7-day average of +0.002%). If the spread goes back, that is −$2 on $10k: about 44 hours of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.225%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International HBAR-PERP-INTX | 0.09291 | 0.0056 | pay 0.0007% / 1h | 43m 04s | $229K | $2.3M | 50x |
| Short | Backpack HBAR_USDC_PERP | 0.09289 | 0.0100 | get 0.0013% / 1h | 43m 04s | $36K | $103K | 15x |
Coinbase International HBAR-PERP-INTX
Backpack HBAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Coinbase International. 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
- $9.24
- Price spread: −0.022% → +0.002%
- −$2.4
- Slippage, 4 orders
- −$20.76
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$33.92
- Costs to cover
- 0.408%
- Break-even
- 32.7 days
Slippage from Coinbase International: live order book, 1 min ago; Backpack: live order book, 30 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 Coinbase International live order book, 1 min ago | 4.84 bp | 10.9 bp −$11 | 17.2 bp −$172 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 30 min ago | 0.54 bp | 8.3 bp −$8 | 558.9 bp −$5,589 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni HBARUSDT | −0.0177% | 1h | 0.09275 | −0.172% | $148K | $718K | 50x | as long as short |
| GRVT HBAR_USDT_Perp | −0.0130% | 8h | 0.09270 | −0.229% | $374K | $2.2M | 10x | as long as short |
| KuCoin HBARUSDTM | −0.0085% | 8h | 0.09288 | −0.032% | $7.3M | $7.8M | 75x | as long as short |
| Gate HBAR_USDT | −0.0019% | 8h | 0.09289 | −0.022% | $2.4M | $3.4M | 75x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09288 | −0.030% | $30K | $4K | 5x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09295 | +0.046% | $8K | — | 150x | as long as short |
| Injective HBAR/USDC PERP | +0.0033% | 1h | 0.09267 | −0.258% | $1K | $106K | 12x | as long as short |
| Phemex HBARUSDT | +0.0040% | 8h | 0.09291 | 0.000% | $2.2M | $2.1M | 50x | as long as short |
| Coinbase International HBAR-PERP-INTXlong | +0.0056% | 1h | 0.09291 | long leg | $229K | $2.3M | 50x | |
| Kraken Futures PF_HBARUSD | +0.0057% | 1h | 0.09294 | +0.027% | $1.4M | $2.3M | 50x | as long as short |
ApeX Omni HBARUSDT
GRVT HBAR_USDT_Perp
KuCoin HBARUSDTM
Gate HBAR_USDT
dYdX HBAR-USD
gTrade (Gains Network) HBAR/USD
Injective HBAR/USDC PERP
Phemex HBARUSDT
Kraken Futures PF_HBARUSDShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended HBAR-USD | +0.0072% | 1h | 0.09287 | −0.042% | $51K | $270K | 10x | as long as short |
| Variational Omni HBAR | +0.0072% | 8h | 0.09262 | −0.311% | $1.0M | $202K | — | as long as short |
| MEXC HBAR_USDT | +0.0073% | 8h | 0.09283 | −0.086% | $26.2M | $22.3M | 200x | as long as short |
| Binance HBARUSDT | +0.0073% | 8h | 0.09283 | −0.082% | $34.7M | $109.7M | 75x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0077% | 8h | 0.09288 | −0.032% | $2K | $17K | 10x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09288 | −0.032% | $568K | $552K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09299 | +0.088% | $8.9M | $2.8M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09291 | −0.005% | $212K | $429K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09283 | −0.086% | $32.9M | $36.2M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09283 | −0.086% | $6.8M | $25.2M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09285 | −0.065% | $17.3M | $15.0M | 75x | as long as short |
| BingX HBAR-USDT | +0.0100% | 8h | 0.09286 | −0.054% | — | $5.9M | — | as long as short |
| Backpack HBAR_USDC_PERPshort | +0.0100% | 1h | 0.09289 | −0.022% | $36K | $103K | 15x | |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09289 | −0.022% | $431 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09308 | +0.183% | $73K | $60K | 20x | as long as short |
| BloFin HBAR-USDT | +0.0193% | 8h | 0.09285 | −0.065% | $1.5M | $5.8M | 90x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | +0.0395% | 1h | 0.09303 | +0.129% | $512K | $166K | 50x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0489% / S −0.0522% | 1h | 0.09295 | +0.044% | $118K | — | 100x | as long as short |
Extended HBAR-USD
Variational Omni HBAR
MEXC HBAR_USDT
Binance HBARUSDT
Orderly PERP_HBAR_USDC
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDT
SoDEX HBAR-USD
HTX HBAR-USDT
BloFin HBAR-USDT
Deribit HBAR_USDC-PERPETUAL
GMX HBAR/USD [WBTC.b-USDC]