Funding you earn now, next payment 04:00 UTC+0.0305%/8h= +33.4% APRnext payment +$0.38 per $10,000 · paid last 24h −0.021%
Price spread now: Hyperliquid against Backpack+0.107%7-day average +0.096% · you sell dearer than you buy
Net, funding: paid 7d − costs−$101as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$450.446% of the position
Funding, last 7 days−0.563%−$56 on $10k
+Price spread, last 4 days (all we have)+0.419%+$42 · spread now +0.107%, 7d avg +0.096%
=Together, before fees−0.144%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.096%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.563%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack MON_USDC_PERP | 0.02525 | −0.0205 | get 0.0026% / 1h | 58m 37s | $111K | $152K | 10x |
| Short | Hyperliquid MON | 0.02527 | 0.0100 | get 0.0013% / 1h | 58m 37s | $34.2M | $7.5M | 5x |
Backpack MON_USDC_PERP
Hyperliquid MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Backpack. 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
- $64.09
- Price spread: +0.107% → +0.096%
- $1.1
- Slippage, 4 orders
- −$25.59
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $20.6
- Costs to cover
- 0.446%
- Break-even
- 4.8 days
Slippage from Backpack: live order book, 64 min ago; Hyperliquid: live order book, 5 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 Backpack live order book, 64 min ago | 0.99 bp | 10.1 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 1.39 bp | 13.3 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
MON on 33 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MON | −0.0316% | 1h | 0.02518 | −0.254% | $12K | $355K | 5x | as long as short |
| Backpack MON_USDC_PERPlong | −0.0205% | 1h | 0.02525 | long leg | $111K | $152K | 10x | |
| Injective MON/USDC PERP | −0.0176% | 1h | 0.02528 | +0.139% | $5K | $108 | 5.5x | as long as short |
| Bybit MONUSDT | −0.0132% | 8h | 0.02521 | −0.139% | $20.8M | $13.2M | 50x | as long as short |
| 01 Exchange MONUSD | −0.0104% | 1h | 0.02520 | −0.174% | $6K | $1K | 5x | as long as short |
| Perpl MON | 0.0000% | 43m | 0.02522 | −0.083% | $105K | $2.3M | 10x | as long as short |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02523 | −0.048% | $68K | $126K | 25x | as long as short |
| Orderly PERP_MON_USDC | +0.0083% | 4h | 0.02523 | −0.059% | $16K | $41K | 10x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02526 | +0.059% | $842K | $735K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0099% | 8h | 0.02524 | −0.024% | $8K | $42 | 5x | as long as short |
Phoenix MON
Injective MON/USDC PERP
Bybit MONUSDT
01 Exchange MONUSD
Perpl MON
Deribit MON_USDC-PERPETUAL
Orderly PERP_MON_USDC
Lighter MON
Paradex MON-USD-PERPShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid MONshort | +0.0100% | 1h | 0.02527 | +0.107% | $34.2M | $7.5M | 5x | |
| Aster MONUSDT | +0.0100% | 4h | 0.02524 | −0.014% | $101K | $222K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02523 | −0.073% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02524 | −0.016% | $140K | $92K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02523 | −0.043% | $24.0M | $26.6M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02520 | −0.178% | $4.2M | $5.9M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02515 | −0.376% | $103K | $5K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02524 | −0.020% | $950K | $961K | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02525 | +0.020% | $2.8M | $746K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02523 | −0.059% | $2.7M | $2.1M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02515 | −0.357% | $747K | $405K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02517 | −0.297% | $41K | $251K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02521 | −0.127% | $564K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02518 | −0.257% | $67K | $504K | 50x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02522 | −0.096% | $412K | $542K | 10x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02522 | −0.099% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02524 | −0.031% | $52K | $517K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02524 | −0.040% | $38K | — | 3x | as long as short |
| Aftermath Perps MONUSD | +0.0257% | 1h | 0.02521 | −0.122% | $2K | $74K | 10x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0260% / S −0.0429% | 1h | 0.02521 | −0.154% | $9K | — | 50x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02517 | −0.297% | $1.3M | $325K | 75x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0408% | 1h | 0.02534 | +0.376% | $112K | $56K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.0539% | 1h | 0.02527 | +0.105% | $269K | $113K | 10x | as long as short |
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
Nado MON-PERP
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
Aftermath Perps MONUSD
GMX MON/USD [ETH-USDC]
BloFin MON-USDT
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD