Funding you earn now, next payment 04:00 UTC+0.0323%/8h= +35.4% APRpaid last 24h +0.058%
Price spread now: Hyperliquid against Orderly+0.023%7-day average +0.064% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.038%+$4 on $10k
+Price spread, last 4 days (all we have)+0.066%+$7 · spread now +0.023%, 7d avg +0.064%
=Together, before fees+0.104%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.041% cheaper against Orderly than usual: you would sell low and buy high (spread +0.023% now, against its 7-day average of +0.064%). If the spread goes back, that is −$4 on $10k: about 10 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.038% in total) that is about 7.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.038% in total (about 2.0% 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 | Orderly PERP_LINK_USDC | 12.937 | 0.0061 | pay 0.0061% / 8h | 4h 57m | $117K | $1.4M | 20x |
| Short | Hyperliquid LINK | 12.940 | 0.0385 | get 0.0048% / 1h | 57m 11s | $81.4M | $27.3M | 10x |
Orderly PERP_LINK_USDC
Hyperliquid LINKFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Orderly. 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
- $67.92
- Price spread: +0.023% → +0.064%
- −$4.12
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $48.81
- Costs to cover
- 0.150%
- Break-even
- 2.0 days
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 6 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 6 min ago | 0.39 bp | 6.0 bp −$6 | 11.4 bp −$114 | doesn't fit | doesn't fit |
Orderly: 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.
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 | 12.934 | −0.021% | $1.8M | — | 200x | as long as short |
| Kalshi KXLINKPERP | 0.0000% | 8h | 12.923 | −0.108% | $487K | $2.2M | 3.7x | as long as short |
| gTrade (Gains Network) LINK/USD | L +0.0004% / S −0.0009% | 1h | 12.938 | +0.011% | $158K | — | 150x | as long as short |
| Injective LINK/USDC PERP | +0.0033% | 1h | 12.400 | −4.151% | $4K | $48K | 12x | as long as short |
| Orderly PERP_LINK_USDClong | +0.0061% | 8h | 12.937 | long leg | $117K | $1.4M | 20x | |
| Lighter LINK | +0.0096% | 1h | 12.938 | +0.011% | $1.9M | $2.8M | 10x | as long as short |
| Coinbase International LINK-PERP-INTX | +0.0096% | 1h | 12.904 | −0.255% | $941K | $2.7M | 50x | as long as short |
| Phoenix LINK | +0.0098% | 1h | 12.920 | −0.133% | $3K | $84K | 10x | as long as short |
| Paradex LINK-USD-PERP | +0.0100% | 8h | 12.899 | −0.296% | $31K | $2K | 20x | as long as short |
| Nado LINK-PERP | +0.0100% | 1h | 12.913 | −0.184% | $391K | $310K | 10x | as long as short |
GMX LINK/USD [LINK-USDC]
Kalshi KXLINKPERP
gTrade (Gains Network) LINK/USD
Injective LINK/USDC PERP
Lighter LINK
Coinbase International LINK-PERP-INTX
Phoenix LINK
Paradex LINK-USD-PERP
Nado LINK-PERPShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster LINKUSDT | +0.0100% | 8h | 12.925 | −0.094% | $1.3M | $2.3M | 50x | as long as short |
| Pacifica LINK | +0.0100% | 1h | 12.901 | −0.281% | $272K | $173K | 10x | as long as short |
| Binance LINKUSDT | +0.0100% | 8h | 12.939 | +0.018% | $119.7M | $297.1M | 75x | as long as short |
| Bybit LINKUSDT | +0.0100% | 8h | 12.937 | 0.000% | $83.6M | $71.7M | 75x | as long as short |
| OKX LINK-USDT-SWAP | +0.0100% | 8h | 12.939 | +0.015% | $27.3M | $81.9M | 50x | as long as short |
| Arcus LINK-USD | +0.0100% | 1h | 12.919 | −0.139% | $181K | $165K | 10x | as long as short |
| Gate LINK_USDT | +0.0100% | 8h | 12.919 | −0.139% | $127.7M | $12.7M | 75x | as long as short |
| MEXC LINK_USDT | +0.0100% | 8h | 12.940 | +0.023% | $32.3M | $55.7M | 300x | as long as short |
| KuCoin LINKUSDTM | +0.0100% | 8h | 12.944 | +0.054% | $22.8M | $13.4M | 75x | as long as short |
| Bitget LINKUSDT | +0.0100% | 8h | 12.944 | +0.054% | $53.8M | $29.6M | 75x | as long as short |
| BingX LINK-USDT | +0.0100% | 8h | 12.934 | −0.023% | — | $22.4M | — | as long as short |
| Variational Omni LINK | +0.0100% | 8h | 12.941 | +0.030% | $3.4M | $1.6M | — | as long as short |
| edgeX LINKUSDC | +0.0100% | 4h | 12.943 | +0.044% | $43K | $307K | 20x | as long as short |
| GRVT LINK_USDT_Perp | +0.0100% | 8h | 12.947 | +0.081% | $583K | $2.7M | 10x | as long as short |
| ApeX Omni LINKUSDT | +0.0100% | 1h | 12.945 | +0.062% | $133K | $672K | 50x | as long as short |
| Polymarket Perps LINK-USD | +0.0100% | 1h | 12.932 | −0.039% | $81K | $70K | 10x | as long as short |
| Derive LINK-PERP | +0.0100% | 1h | 12.920 | −0.133% | $16K | $22K | 10x | as long as short |
| SunX LINK-USDT | +0.0100% | 8h | 12.953 | +0.121% | $33K | $1.5M | 30x | as long as short |
| SoDEX LINK-USD | +0.0100% | 1h | 12.938 | +0.008% | $11K | $63K | 10x | as long as short |
| HTX LINK-USDT | +0.0100% | 8h | 12.914 | −0.176% | $632K | $704K | 75x | as long as short |
| Extended LINK-USD | +0.0104% | 1h | 12.933 | −0.031% | $637K | $2.0M | 25x | as long as short |
| Aevo LINK-PERP | +0.0104% | 1h | 12.937 | +0.003% | $543K | $2K | 3x | as long as short |
| Backpack LINK_USDC_PERP | +0.0119% | 1h | 12.917 | −0.155% | $339K | $388K | 15x | as long as short |
| Deribit LINK_USDC-PERPETUAL | +0.0175% | 1h | 12.946 | +0.072% | $772K | $184K | 50x | as long as short |
| BloFin LINK-USDT | +0.0220% | 8h | 12.922 | −0.116% | $5.3M | $15.7M | 75x | as long as short |
| Hyperliquid LINKshort | +0.0385% | 1h | 12.940 | +0.023% | $81.4M | $27.3M | 10x | |
| Reya LINKRUSDPERP | +0.0388% | 1h | 12.922 | −0.114% | $4K | — | 20x | as long as short |
| Kraken Futures PF_LINKUSD | +0.0395% | 1h | 12.945 | +0.058% | $6.7M | $8.1M | 50x | as long as short |
| dYdX LINK-USD | +0.0442% | 1h | 12.905 | −0.248% | $342K | $30K | 10x | as long as short |
| Phemex LINKUSDT | +0.0622% | 8h | 12.945 | +0.062% | $20.0M | $11.4M | 50x | as long as short |
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-USDT
Variational Omni LINK
edgeX LINKUSDC
GRVT LINK_USDT_Perp
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
Deribit LINK_USDC-PERPETUAL
BloFin LINK-USDT
Reya LINKRUSDPERP
Kraken Futures PF_LINKUSD
dYdX LINK-USD
Phemex LINKUSDT