Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.564%
Price spread now: Backpack against Injective−0.830%72s7-day average +0.131% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.602%+$60 on $10k
+Price spread, last 3 days (all we have)+1.250%+$125 · spread now −0.830%, 7d avg +0.131%
=Funding pays, the price is against you. Backpack is 0.960% cheaper against Injective than usual: you would sell low and buy high (spread −0.830% now, against its 7-day average of +0.131%). If the spread goes back, that is −$96 on $10k: about 48 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.602% in total) that is about 11 days. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective HBAR/USDC PERP | 0.09282 | 0.0033 | pay 0.0004% / 1h | 9m 29s | $1K | $106K | 12x |
| Short | Backpack HBAR_USDC_PERP | 0.09205 | 0.0100 | get 0.0013% / 1h | 9m 29s | $32K | $120K | 15x |
Injective HBAR/USDC PERP
Backpack HBAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- $14
- Price spread: −0.830% → +0.131%
- −$96.04
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$92.06
- Costs to cover
- 0.100%
- Break-even
- 53.0 days
Slippage unknown: Injective: live order book, 55 min ago; Backpack: live order book, 58 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 Injective live order book, 55 min ago | 76.02 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 58 min ago | 1.07 bp | 9.1 bp −$9 | 639.3 bp −$6,393 | doesn't fit | doesn't fit |
HBAR on 27 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 | −0.0062% | 8h | 0.09201 | −0.873% | $7.1M | $7.4M | 75x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09209 | −0.787% | $30K | $4K | 5x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | 0.0000% | 1h | 0.09216 | −0.711% | $507K | $151K | 50x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09206 | −0.822% | $8K | — | 150x | as long as short |
| Injective HBAR/USDC PERPlong | +0.0033% | 1h | 0.09282 | long leg | $1K | $106K | 12x | |
| Gate HBAR_USDT | +0.0053% | 8h | 0.09207 | −0.808% | $2.4M | $3.0M | 75x | as long as short |
| Variational Omni HBAR | +0.0064% | 8h | 0.09232 | −0.540% | $1.0M | $187K | — | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0064% | 1h | 0.09212 | −0.754% | $223K | $2.1M | 50x | as long as short |
| Kraken Futures PF_HBARUSD | +0.0069% | 1h | 0.09216 | −0.714% | $1.4M | $2.5M | 50x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0077% | 8h | 0.09210 | −0.776% | $2K | $17K | 10x | as long as short |
KuCoin HBARUSDTM
dYdX HBAR-USD
Deribit HBAR_USDC-PERPETUAL
gTrade (Gains Network) HBAR/USD
Gate HBAR_USDT
Variational Omni HBAR
Coinbase International HBAR-PERP-INTX
Kraken Futures PF_HBARUSD
Orderly PERP_HBAR_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC HBAR_USDT | +0.0079% | 8h | 0.09204 | −0.840% | $26.0M | $22.0M | 200x | as long as short |
| Binance HBARUSDT | +0.0080% | 8h | 0.09203 | −0.851% | $34.1M | $104.6M | 75x | as long as short |
| Extended HBAR-USD | +0.0080% | 1h | 0.09201 | −0.871% | $47K | $278K | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0090% | 1h | 0.09234 | −0.517% | $147K | $713K | 50x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09203 | −0.851% | $560K | $596K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09211 | −0.762% | $8.8M | $2.6M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09200 | −0.880% | $210K | $322K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09204 | −0.840% | $32.6M | $34.3M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09200 | −0.883% | $6.7M | $24.4M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09201 | −0.873% | $17.0M | $14.9M | 75x | as long as short |
| BingX HBAR-USDT | +0.0100% | 8h | 0.09201 | −0.873% | — | $6.2M | — | as long as short |
| Backpack HBAR_USDC_PERPshort | +0.0100% | 1h | 0.09205 | −0.830% | $32K | $120K | 15x | |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09237 | −0.485% | $377K | $2.3M | 10x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09211 | −0.765% | $428 | $5K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09235 | −0.506% | $71K | $66K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09212 | −0.754% | $2.1M | $2.2M | 50x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0486% / S −0.0549% | 1h | 0.09206 | −0.814% | $114K | — | 100x | as long as short |
MEXC HBAR_USDT
Binance HBARUSDT
Extended HBAR-USD
ApeX Omni HBARUSDT
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDT
GRVT HBAR_USDT_Perp
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
GMX HBAR/USD [WBTC.b-USDC]