Funding you earn now, next payment 22:00 UTC−0.1508%/8h= −165.1% APRpaid last 24h −0.314%
Price spread now: Binance against Hyperliquid−0.311%7-day average −0.270% · you buy dearer than you sell
Net, funding: paid 7d − costs−$139as in the Funding arb table
Net, price: spread back to 7d avg − costs−$99as in the Price arb table
costs, in and out, $10k−$950.946% of the position
Funding, last 7 days−0.448%−$45 on $10k
+Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.311%, 7d avg −0.270%
=Together, before fees−0.277%+ Points / potential airdropHyperliquid: Season 2 · farm board−$28 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and Binance is 0.042% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.270%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.448% in total (about -23.4% 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 NIL | 0.06779 | 0.1608 | pay 0.0201% / 1h | 19m 03s | $4.1M | $4.6M | 3x |
| Short | Binance NILUSDT | 0.06758 | 0.0100 | get 0.0050% / 4h | 2h 19m | $5.3M | $84.0M | 50x |
Hyperliquid NIL
Binance NILUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$316.68
- Price spread: −0.311% → −0.270%
- −$4.16
- Slippage, 4 orders
- −$75.6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$415.44
- Costs to cover
- 0.946%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 3 min ago; Binance: live order book, 9 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, 3 min ago | 3.40 bp | 27.3 bp −$27 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 9 min ago | 1.47 bp | 27.4 bp −$27 | 120.2 bp −$1,202 | doesn't fit | doesn't fit |
NIL on 12 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster NILUSDT | +0.0100% | 4h | 0.06756 | −0.337% | $20K | $370K | 5x | as long as short |
| Binance NILUSDTshort | +0.0100% | 4h | 0.06758 | −0.311% | $5.3M | $84.0M | 50x | |
| Bybit NILUSDT | +0.0100% | 4h | 0.06768 | −0.164% | $3.5M | $14.6M | 20x | as long as short |
| Gate NIL_USDT | +0.0100% | 4h | 0.06754 | −0.370% | $437K | $2.1M | 50x | as long as short |
| MEXC NIL_USDT | +0.0100% | 4h | 0.06759 | −0.296% | $2.3M | $6.0M | 100x | as long as short |
| KuCoin NILUSDTM | +0.0100% | 4h | 0.06761 | −0.267% | $477K | $719K | 30x | as long as short |
| Bitget NILUSDT | +0.0100% | 4h | 0.06763 | −0.237% | $1.7M | $9.5M | 50x | as long as short |
| BingX NIL-USDT | +0.0100% | 4h | 0.06754 | −0.370% | — | $8.6M | — | as long as short |
| Variational Omni NIL | +0.0100% | 4h | 0.06751 | −0.413% | $50K | $153K | — | as long as short |
| Extended NIL-USD | +0.0104% | 1h | 0.06756 | −0.340% | $16K | $94K | 5x | as long as short |
Aster NILUSDT
Bybit NILUSDT
Gate NIL_USDT
MEXC NIL_USDT
KuCoin NILUSDTM
Bitget NILUSDT
BingX NIL-USDT
Variational Omni NIL
Extended NIL-USDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin NIL-USDT | +0.0146% | 4h | 0.06734 | −0.665% | $356K | $159K | 50x | as long as short |
| Hyperliquid NILlong | +0.1608% | 1h | 0.06779 | long leg | $4.1M | $4.6M | 3x |
BloFin NIL-USDT