Funding you earn now, next payment 04:00 UTC−0.0229%/8h= −25.1% APRpaid last 24h −0.052%
Price spread now: GRVT against Hyperliquid+0.251%7-day average −0.056% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs+$4as in the Price arb table
costs, in and out, $10k−$270.270% of the position
Funding, last 7 days−0.108%−$11 on $10k
+Price spread, last 7 days−0.270%−$27 · spread now +0.251%, 7d avg −0.056%
=Together, before fees−0.378%+ Points / potential airdropHyperliquid: Season 2 · GRVT: Active · farm board−$38 on $10k · with fees, hour by hour
The price spread pays, funding is against you. GRVT is 0.307% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.251% now, against its 7-day average of −0.056%): +$31 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 4.5 days. At the pace of the last 7 days (−0.108% in total) that is about 20 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.108% in total (about -5.6% 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 | Hyperliquid LINK | 12.915 | 0.0329 | pay 0.0041% / 1h | 57m 35s | $81.2M | $27.3M | 10x |
| Short | GRVT LINK_USDT_Perp | 12.947 | 0.0100 | get 0.0100% / 8h | 4h 57m | $583K | $2.7M | 10x |
Hyperliquid LINK
GRVT LINK_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT against Hyperliquid. 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
- −$48.09
- Price spread: +0.251% → −0.056%
- $30.74
- Slippage, 4 orders
- −$9.01
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$44.36
- Costs to cover
- 0.270%
- Break-even
- from the start
Slippage from Hyperliquid: live order book, 6 min ago; GRVT: 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 Hyperliquid live order book, 6 min ago | 0.39 bp | 6.9 bp −$7 | 11.2 bp −$112 | doesn't fit | doesn't fit |
| Sell GRVT live order book, 6 min ago | 1.55 bp | 6.7 bp −$7 | 11.7 bp −$117 | doesn't fit | doesn't fit |
LINK on 40 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 | |
|---|---|---|---|---|---|---|---|---|
| GMX LINK/USD [LINK-USDC] | L −0.0090% / S +0.0167% | 1h | 12.923 | +0.064% | $1.8M | — | 200x | as long as short |
| Kalshi KXLINKPERP | 0.0000% | 8h | 12.948 | +0.259% | $489K | $2.2M | 3.7x | as long as short |
| gTrade (Gains Network) LINK/USD | L +0.0004% / S −0.0009% | 1h | 12.924 | +0.073% | $158K | — | 150x | as long as short |
| Injective LINK/USDC PERP | +0.0033% | 1h | 12.400 | −3.988% | $4K | $48K | 12x | as long as short |
| Orderly PERP_LINK_USDC | +0.0061% | 8h | 12.919 | +0.031% | $116K | $1.4M | 20x | as long as short |
| Lighter LINK | +0.0096% | 1h | 12.901 | −0.108% | $1.9M | $2.8M | 10x | as long as short |
| Coinbase International LINK-PERP-INTX | +0.0096% | 1h | 12.938 | +0.178% | $942K | $2.7M | 50x | as long as short |
| Deribit LINK_USDC-PERPETUAL | +0.0098% | 1h | 12.926 | +0.087% | $771K | $181K | 50x | as long as short |
| Phoenix LINK | +0.0098% | 1h | 12.941 | +0.201% | $3K | $84K | 10x | as long as short |
| Paradex LINK-USD-PERP | +0.0100% | 8h | 12.899 | −0.127% | $31K | $2K | 20x | as long as short |
GMX LINK/USD [LINK-USDC]
Kalshi KXLINKPERP
gTrade (Gains Network) LINK/USD
Injective LINK/USDC PERP
Orderly PERP_LINK_USDC
Lighter LINK
Coinbase International LINK-PERP-INTX
Deribit LINK_USDC-PERPETUAL
Phoenix LINK
Paradex LINK-USD-PERPShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado LINK-PERP | +0.0100% | 1h | 12.913 | −0.014% | $391K | $310K | 10x | as long as short |
| Aster LINKUSDT | +0.0100% | 8h | 12.901 | −0.107% | $1.3M | $2.3M | 50x | as long as short |
| Pacifica LINK | +0.0100% | 1h | 12.901 | −0.111% | $272K | $173K | 10x | as long as short |
| Binance LINKUSDT | +0.0100% | 8h | 12.913 | −0.014% | $119.6M | $297.0M | 75x | as long as short |
| Bybit LINKUSDT | +0.0100% | 8h | 12.914 | −0.008% | $83.4M | $71.7M | 75x | as long as short |
| OKX LINK-USDT-SWAP | +0.0100% | 8h | 12.917 | +0.015% | $27.2M | $81.7M | 50x | as long as short |
| Arcus LINK-USD | +0.0100% | 1h | 12.919 | +0.031% | $181K | $165K | 10x | as long as short |
| Gate LINK_USDT | +0.0100% | 8h | 12.899 | −0.124% | $127.5M | $12.7M | 75x | as long as short |
| MEXC LINK_USDT | +0.0100% | 8h | 12.899 | −0.124% | $32.2M | $55.7M | 300x | as long as short |
| KuCoin LINKUSDTM | +0.0100% | 8h | 12.903 | −0.093% | $22.7M | $13.4M | 75x | as long as short |
| Bitget LINKUSDT | +0.0100% | 8h | 12.899 | −0.124% | $53.6M | $29.6M | 75x | as long as short |
| BingX LINK-USDC | +0.0100% | 8h | 12.901 | −0.108% | — | $6.6M | — | as long as short |
| Variational Omni LINK | +0.0100% | 8h | 12.941 | +0.200% | $3.4M | $1.6M | — | as long as short |
| edgeX LINKUSDC | +0.0100% | 4h | 12.943 | +0.214% | $43K | $307K | 20x | as long as short |
| GRVT LINK_USDT_Perpshort | +0.0100% | 8h | 12.947 | +0.251% | $583K | $2.7M | 10x | |
| ApeX Omni LINKUSDT | +0.0100% | 1h | 12.945 | +0.232% | $133K | $672K | 50x | as long as short |
| Polymarket Perps LINK-USD | +0.0100% | 1h | 12.938 | +0.178% | $81K | $70K | 10x | as long as short |
| Derive LINK-PERP | +0.0100% | 1h | 12.920 | +0.037% | $16K | $22K | 10x | as long as short |
| SunX LINK-USDT | +0.0100% | 8h | 12.937 | +0.170% | $34K | $1.5M | 30x | as long as short |
| SoDEX LINK-USD | +0.0100% | 1h | 12.921 | +0.046% | $11K | $63K | 10x | as long as short |
| HTX LINK-USDT | +0.0100% | 8h | 12.931 | +0.123% | $633K | $704K | 75x | as long as short |
| Extended LINK-USD | +0.0104% | 1h | 12.897 | −0.143% | $637K | $2.0M | 25x | as long as short |
| Aevo LINK-PERP | +0.0104% | 1h | 12.921 | +0.047% | $542K | $2K | 3x | as long as short |
| Backpack LINK_USDC_PERP | +0.0119% | 1h | 12.917 | +0.015% | $339K | $388K | 15x | as long as short |
| BloFin LINK-USDT | +0.0220% | 8h | 12.931 | +0.124% | $5.3M | $15.7M | 75x | as long as short |
| Hyperliquid LINKlong | +0.0329% | 1h | 12.915 | long leg | $81.2M | $27.3M | 10x | |
| Reya LINKRUSDPERP | +0.0388% | 1h | 12.927 | +0.094% | $4K | — | 20x | as long as short |
| Kraken Futures PF_LINKUSD | +0.0395% | 1h | 12.922 | +0.056% | $6.7M | $8.1M | 50x | as long as short |
| dYdX LINK-USD | +0.0442% | 1h | 12.905 | −0.078% | $342K | $30K | 10x | as long as short |
| Phemex LINKUSDT | +0.0608% | 8h | 12.934 | +0.147% | $19.9M | $11.4M | 50x | as long as short |
Nado LINK-PERP
Aster LINKUSDT
Pacifica LINK
Binance LINKUSDT
Bybit LINKUSDT
OKX LINK-USDT-SWAP
Arcus LINK-USD
Gate LINK_USDT
MEXC LINK_USDT
KuCoin LINKUSDTM
Bitget LINKUSDT
BingX LINK-USDC
Variational Omni LINK
edgeX LINKUSDC
ApeX Omni LINKUSDT
Polymarket Perps LINK-USD
Derive LINK-PERP
SunX LINK-USDT
SoDEX LINK-USD
HTX LINK-USDT
Extended LINK-USD
Aevo LINK-PERP
Backpack LINK_USDC_PERP
BloFin LINK-USDT
Reya LINKRUSDPERP
Kraken Futures PF_LINKUSD
dYdX LINK-USD
Phemex LINKUSDT