Funding you earn now, next payment 21:20 UTC+0.0347%/8h= +37.9% APRpaid last 24h −0.146%
Price spread now: Perpl against Hyperliquid−0.119%7-day average −0.080% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.019%+$2 on $10k
+Price spread, last 3 days (all we have)+0.427%+$43 · spread now −0.119%, 7d avg −0.080%
=Together, before fees+0.445%+ Points / potential airdropHyperliquid: Season 2 · Perpl: Active · farm board+$45 on $10k · with fees, hour by hour
Funding pays, the price is against you. Perpl is 0.039% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of −0.080%). If the spread goes back, that is −$4 on $10k: about 9 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.019% in total) that is about 15 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.019% in total (about 1.0% 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 | Hyperliquid MON | 0.02601 | 0.0100 | pay 0.0013% / 1h | 18m 17s | $35.1M | $7.5M | 5x |
| Short | Perpl MON | 0.02598 | 0.0447 | get 0.0040% / 43m | 5m 17s | $146K | $1.8M | 10x |
Hyperliquid MON
Perpl MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Perpl 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
- $72.77
- Price spread: −0.119% → −0.080%
- −$3.89
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Net
- $46.07
- Costs to cover
- 0.228%
- Break-even
- 2.6 days
Slippage unknown: Hyperliquid: live order book, 5 min ago; Perpl: no order-book sample. 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 Hyperliquid live order book, 5 min ago | 0.96 bp | 11.8 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Perpl no order-book sample | — | — | — | — | — |
Perpl: 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.
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective MON/USDC PERP | −0.0739% | 1h | 0.02596 | −0.196% | $6K | $109 | 5.5x | as long as short |
| Deribit MON_USDC-PERPETUAL | −0.0250% | 1h | 0.02599 | −0.085% | $63K | $110K | 25x | as long as short |
| 01 Exchange MONUSD | −0.0224% | 1h | 0.02596 | −0.188% | $6K | $1K | 5x | as long as short |
| Bybit MONUSDT | 0.0000% | 8h | 0.02596 | −0.211% | $21.7M | $11.8M | 50x | as long as short |
| Phoenix MON | 0.0000% | 1h | 0.02600 | −0.027% | $14K | $384K | 5x | as long as short |
| BloFin MON-USDT | +0.0077% | 4h | 0.02598 | −0.119% | $1.4M | $245K | 75x | as long as short |
| Orderly PERP_MON_USDC | +0.0091% | 4h | 0.02598 | −0.119% | $17K | $64K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0096% | 8h | 0.02597 | −0.173% | $8K | $42 | 5x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02600 | −0.042% | $854K | $758K | 10x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02602 | +0.034% | $375K | $528K | 10x | as long as short |
Injective MON/USDC PERP
Deribit MON_USDC-PERPETUAL
01 Exchange MONUSD
Bybit MONUSDT
Phoenix MON
BloFin MON-USDT
Orderly PERP_MON_USDC
Paradex MON-USD-PERP
Lighter MON
Nado MON-PERPShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid MONlong | +0.0100% | 1h | 0.02601 | long leg | $35.1M | $7.5M | 5x | |
| Aster MONUSDT | +0.0100% | 4h | 0.02599 | −0.074% | $108K | $233K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02599 | −0.065% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02598 | −0.119% | $143K | $106K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02597 | −0.170% | $24.6M | $24.6M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02593 | −0.311% | $4.4M | $6.0M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02602 | +0.035% | $109K | $3K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02600 | −0.042% | $1.0M | $934K | 50x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02599 | −0.081% | $2.8M | $1.8M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02598 | −0.125% | $783K | $411K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02601 | −0.019% | $48K | $243K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02598 | −0.100% | $585K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02602 | +0.035% | $69K | $481K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02597 | −0.158% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02602 | +0.016% | $52K | $407K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02597 | −0.161% | $39K | — | 3x | as long as short |
| Kraken Futures PF_MONUSD | +0.0131% | 1h | 0.02601 | +0.002% | $268K | $67K | 10x | as long as short |
| Aftermath Perps MONUSD | +0.0172% | 1h | 0.02599 | −0.100% | $2K | $73K | 10x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0261% / S −0.0598% | 1h | 0.02600 | −0.062% | $9K | — | 50x | as long as short |
| Backpack MON_USDC_PERP | +0.0306% | 1h | 0.02599 | −0.077% | $138K | $136K | 10x | as long as short |
| KuCoin MONUSDTM | +0.0384% | 4h | 0.02602 | +0.035% | $3.2M | $746K | 75x | as long as short |
| Perpl MONshort | +0.0447% | 43m | 0.02598 | −0.119% | $146K | $1.8M | 10x | |
| Coinbase International MON-PERP-INTX | +0.0648% | 1h | 0.02607 | +0.242% | $115K | $50K | 50x | as long as short |
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
Kraken Futures PF_MONUSD
Aftermath Perps MONUSD
GMX MON/USD [ETH-USDC]
Backpack MON_USDC_PERP
KuCoin MONUSDTM
Coinbase International MON-PERP-INTX