Funding you earn now, next payment 23:00 UTC+0.0520%/8h= +56.9% APRpaid last 24h +0.092%
Price spread now: Hyperliquid against Binance+0.201%7-day average +0.097% · you sell dearer than you buy
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$400.399% of the position
Funding, last 7 days+0.104%+$10 on $10k
+Price spread, last 7 days−0.139%−$14 · spread now +0.201%, 7d avg +0.097%
=Together, before fees−0.035%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Hyperliquid is 0.104% dearer against Binance than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.097%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.104% in total (about 5.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ICPUSDT | 2.9810 | 0.0100 | pay 0.0100% / 8h | 1h 56m | $29.0M | $49.0M | 75x |
| Short | Hyperliquid ICP | 2.9870 | 0.0620 | get 0.0077% / 1h | 56m 03s | $4.7M | $5.0M | 5x |
Binance ICPUSDT
Hyperliquid ICPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Binance. 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
- $109.19
- Price spread: +0.201% → +0.097%
- $10.42
- Slippage, 4 orders
- −$20.9
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $79.72
- Costs to cover
- 0.399%
- Break-even
- 1.9 days
Slippage from Binance: live order book, 16 min ago; Hyperliquid: live order book, 6 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 Binance live order book, 16 min ago | 1.68 bp | 12.7 bp −$13 | 27.1 bp −$271 | 326.9 bp −$32.7K | doesn't fit |
| Sell Hyperliquid live order book, 6 min ago | 0.50 bp | 7.8 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
ICP 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex ICPUSDT | −0.1260% | 8h | 2.9760 | −0.168% | $1.7M | $779K | 50x | as long as short |
| Deribit ICP_USDC-PERPETUAL | −0.0521% | 1h | 2.9825 | +0.050% | $266 | $464 | 50x | as long as short |
| Variational Omni ICP | −0.0222% | 8h | 2.9664 | −0.491% | $1.1M | $121K | — | as long as short |
| Injective ICP/USDC PERP | −0.0152% | 1h | 2.9665 | −0.486% | $202 | $200K | 12x | as long as short |
| Gate ICP_USDT | −0.0102% | 8h | 2.9810 | 0.000% | $1.9M | $2.7M | 50x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 2.9852 | +0.142% | $69K | $4K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0010% | 1h | 2.9836 | +0.086% | $27K | — | 150x | as long as short |
| Bybit ICPUSDT | +0.0049% | 8h | 2.9790 | −0.067% | $17.2M | $17.7M | 75x | as long as short |
| Lighter ICP | +0.0096% | 1h | 2.9853 | +0.144% | $166K | $441K | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 2.9844 | +0.114% | $182K | $1.4M | 20x | as long as short |
Phemex ICPUSDT
Deribit ICP_USDC-PERPETUAL
Variational Omni ICP
Injective ICP/USDC PERP
Gate ICP_USDT
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Bybit ICPUSDT
Lighter ICP
Aster ICPUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica ICP | +0.0100% | 1h | 2.9847 | +0.125% | $135K | $11K | 5x | as long as short |
| Binance ICPUSDTlong | +0.0100% | 8h | 2.9810 | long leg | $29.0M | $49.0M | 75x | |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 2.9800 | −0.034% | $5.8M | $15.7M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 2.9820 | +0.034% | $19.2M | $8.5M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 2.9850 | +0.134% | $5.3M | $12.9M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 2.9820 | +0.034% | $6.8M | $4.4M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 2.9820 | +0.034% | — | $4.9M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 2.9691 | −0.399% | $23K | $276K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 2.9690 | −0.403% | $568K | $469K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 2.9810 | 0.000% | $1K | $1.7M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 2.9790 | −0.067% | $106K | $218K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 2.9815 | +0.017% | $25K | $124K | 10x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 2.9790 | −0.067% | $1.2M | $2.2M | 75x | as long as short |
| Kraken Futures PF_ICPUSD | +0.0224% | 1h | 2.9859 | +0.164% | $489K | $517K | 50x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0240% | 1h | 2.9890 | +0.268% | $62K | $89K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0433% / S −0.0367% | 1h | 2.9830 | +0.068% | $31K | — | 100x | as long as short |
| Hyperliquid ICPshort | +0.0620% | 1h | 2.9870 | +0.201% | $4.7M | $5.0M | 5x |
Pacifica ICP
OKX ICP-USDT-SWAP
MEXC ICP_USDT
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Extended ICP-USD
BloFin ICP-USDT
Kraken Futures PF_ICPUSD
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]