Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 7.6309 | +0.0100 | pay 0.0013% / 1h | 17m 22s | $9.8M | $4.3M | 5x | Long Hyperliquid4% off | |
| SHORT | 7.6330 | +0.0100 | get 0.0100% / 8h | 7h 17m | $1.6M | $2.6M | 50x | Short Phemex |
Price gap+0.028%48s
Funding gap0.0000% /8h
Funding is ≈ 0 and the gap is 0.024% under its 7d average: the price leg works against you, −$2 on $10k if it goes back.
The two prices were read 48 s apart: part of this gap may be the market moving.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$2740.0000% /8h now · paid +2.737% over the last 7D
Price—spread +0.028%48s now · prices read too far apart to compare
Costs−$820.820% of $10k · taker + slippage, in and out
Result—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both prices read together
Funding history
you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.
Price spread between the two exchanges
Phemex price against Hyperliquidnow
RANGE STATS · 7D
Now+0.028%
Average—
Range—
Wider than now—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hINJ on 24 exchanges
lowest funding firstBefore you open
1 ok · 5 to watch- Watch: Thin at this size6.3 / 39.3 bpAt $10k entering Phemex costs 39.3 bp, fee and slippage, 6.2× Hyperliquid’s.
- Note: Margin at max leverage$2,000 + $200Hyperliquid 5x, Phemex 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: $0.00Long Hyperliquid: 24 payments, −$3.00; short Phemex: 3 payments, +$3.00.
- Watch: Prices read 48 s apart+0.028% vs +0.051%Part of this gap may be the market moving.
- Watch: Short leg is thinner$1.6M vs $9.8M OIPhemex sets your exit cost. Check its book before closing.
- OK: Points on a legHyperliquid Season 2Volume here counts toward the points program.
- Watch: KYCHyperliquid No · Phemex YesKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.1434%/8h × 21 periods+$301.11
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$60.99
Fee Hyperliquid bp × 2 orders−$9.00
Fee Phemex bp × 2 orders−$12.00
Net · 7 days · $10k+$219.12
price spread not counted: prices read too far apartCosts to cover0.820%Break-even1.9 days
Slippage: Hyperliquid: live order book, 5 min ago; Phemex: live order book, 6 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGHyperliquid0.136.3 bp−$6doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTPhemex3.2839.3 bp−$39doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
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