Funding you earn now, next payment 02:00 UTC−0.0393%/8h= −43.1% APRnext payment −$0.49 per $10,000 · paid last 24h −0.087%
Price spread now: Backpack against GMX+0.188%7-day average −0.020% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.356%−$36 on $10k
+Price spread, last 3 days (all we have)−0.220%−$22 · spread now +0.188%, 7d avg −0.020%
=The price spread pays, funding is against you. Backpack is 0.208% dearer against GMX than usual: you sell high and buy low (spread +0.188% now, against its 7-day average of −0.020%): +$21 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 42 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX HBAR/USD [WBTC.b-USDC] | 0.09213 | L +0.0493% / S −0.0562% | pay 0.0062% / 1h | 53m 51s | $116K | — | 100x |
| Short | Backpack HBAR_USDC_PERP | 0.09230 | 0.0100 | get 0.0013% / 1h | 53m 51s | $38K | $117K | 15x |
GMX HBAR/USD [WBTC.b-USDC]
Backpack HBAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GMX. 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
- −$82.63
- Price spread: +0.188% → −0.020%
- $20.75
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$83.88
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Backpack: live order book, 14 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 GMX no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 14 min ago | 1.07 bp | 9.1 bp −$9 | 639.3 bp −$6,393 | doesn't fit | doesn't fit |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.1501% | 1h | 0.09224 | +0.123% | $147K | $724K | 50x | as long as short |
| KuCoin HBARUSDTM | −0.0074% | 8h | 0.09229 | +0.177% | $7.3M | $7.4M | 75x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09202 | −0.114% | $30K | $4K | 5x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09214 | +0.015% | $8K | — | 150x | as long as short |
| Injective HBAR/USDC PERP | +0.0033% | 1h | 0.09182 | −0.333% | $1K | $106K | 12x | as long as short |
| Gate HBAR_USDT | +0.0046% | 8h | 0.09229 | +0.177% | $2.4M | $3.0M | 75x | as long as short |
| GRVT HBAR_USDT_Perp | +0.0061% | 8h | 0.09216 | +0.040% | $379K | $2.2M | 10x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0064% | 1h | 0.09210 | −0.029% | $224K | $2.1M | 50x | as long as short |
| Kraken Futures PF_HBARUSD | +0.0069% | 1h | 0.09231 | +0.195% | $1.4M | $2.3M | 50x | as long as short |
| Variational Omni HBAR | +0.0069% | 8h | 0.09196 | −0.180% | $1.0M | $186K | — | as long as short |
ApeX Omni HBARUSDT
KuCoin HBARUSDTM
dYdX HBAR-USD
gTrade (Gains Network) HBAR/USD
Injective HBAR/USDC PERP
Gate HBAR_USDT
GRVT HBAR_USDT_Perp
Coinbase International HBAR-PERP-INTX
Kraken Futures PF_HBARUSD
Variational Omni HBARShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance HBARUSDT | +0.0071% | 8h | 0.09238 | +0.276% | $34.5M | $104.5M | 75x | as long as short |
| Extended HBAR-USD | +0.0072% | 1h | 0.09228 | +0.167% | $47K | $281K | 10x | as long as short |
| MEXC HBAR_USDT | +0.0072% | 8h | 0.09232 | +0.209% | $26.4M | $21.7M | 200x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0075% | 8h | 0.09218 | +0.058% | $2K | $17K | 10x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09230 | +0.188% | $560K | $582K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09236 | +0.254% | $8.8M | $2.7M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09231 | +0.199% | $211K | $346K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09228 | +0.166% | $32.7M | $35.1M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09227 | +0.155% | $6.8M | $24.6M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09232 | +0.209% | $17.1M | $14.7M | 75x | as long as short |
| BingX HBAR-USDC | +0.0100% | 8h | 0.09229 | +0.177% | — | $6.7M | — | as long as short |
| Backpack HBAR_USDC_PERPshort | +0.0100% | 1h | 0.09230 | +0.188% | $38K | $117K | 15x | |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09224 | +0.123% | $428 | $5K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09227 | +0.155% | $73K | $66K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09222 | +0.101% | $2.2M | $2.1M | 50x | as long as short |
| BloFin HBAR-USDT | +0.0192% | 8h | 0.09194 | −0.203% | $1.5M | $5.4M | 90x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC]long | L +0.0493% / S −0.0562% | 1h | 0.09213 | long leg | $116K | — | 100x | |
| Deribit HBAR_USDC-PERPETUAL | +0.0834% | 1h | 0.09235 | +0.242% | $508K | $154K | 50x | as long as short |
Binance HBARUSDT
Extended HBAR-USD
MEXC HBAR_USDT
Orderly PERP_HBAR_USDC
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDC
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
BloFin HBAR-USDT
Deribit HBAR_USDC-PERPETUAL