Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.065%
Price spread now: Hyperliquid against Deribit−0.016%7-day average +0.033% · you buy dearer than you sell
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$460.458% of the position
Funding, last 7 days+0.154%+$15 on $10k
+Price spread, last 4 days (all we have)−0.095%−$9 · spread now −0.016%, 7d avg +0.033%
=Together, before fees+0.060%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.048% cheaper against Deribit than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.033%). If the spread goes back, that is −$5 on $10k: about 39 hours of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit OP_USDC-PERPETUAL | 0.1279 | 0 | get 0.0000% / 1h | 20m 52s | $42K | $151K | 25x |
| Short | Hyperliquid OP | 0.1279 | 0.0100 | get 0.0013% / 1h | 20m 52s | $3.7M | $2.9M | 5x |
Deribit OP_USDC-PERPETUAL
Hyperliquid OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Deribit. 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
- $21
- Price spread: −0.016% → +0.033%
- −$4.82
- Slippage, 4 orders
- −$29.8
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$29.63
- Costs to cover
- 0.458%
- Break-even
- 16.9 days
Slippage from Deribit: live order book, 43 min ago; Hyperliquid: live order book, 11 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 Deribit live order book, 43 min ago | 7.91 bp | 11.4 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.39 bp | 10.3 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
OP on 30 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 OP/USDC PERP | −0.1488% | 1h | 0.1260 | −1.486% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1279 | +0.021% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1280 | +0.058% | $40K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALlong | 0.0000% | 1h | 0.1279 | long leg | $42K | $151K | 25x | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1280 | +0.061% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0032% | 8h | 0.1278 | −0.109% | $6.2M | $29.2M | 50x | as long as short |
| Variational Omni OP | +0.0049% | 8h | 0.1278 | −0.046% | $226K | $50K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0053% | 8h | 0.1280 | +0.078% | $6K | $45K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1280 | +0.102% | $283K | $936K | 15x | as long as short |
| Hyperliquid OPshort | +0.0100% | 1h | 0.1279 | −0.016% | $3.7M | $2.9M | 5x |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
gTrade (Gains Network) OP/USD
OKX OP-USDT-SWAP
Variational Omni OP
Orderly PERP_OP_USDC
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1280 | +0.100% | $214K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1278 | −0.060% | $20.7M | $60.5M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1278 | −0.094% | $18.7M | $25.3M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1279 | 0.000% | $2.0M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1279 | 0.000% | $21.1M | $7.0M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1279 | 0.000% | $2.9M | $6.7M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1278 | −0.078% | $6.0M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1279 | 0.000% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1278 | −0.039% | $122K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1271 | −0.655% | $4K | $387K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1277 | −0.168% | $314K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1277 | −0.156% | $44K | $706K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1279 | −0.023% | $185 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1281 | +0.141% | $177K | $216K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1278 | −0.076% | $107K | $394K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1279 | +0.035% | $4K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0152% | 1h | 0.1265 | −1.095% | $24K | $70K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1279 | −0.031% | $1.0M | $273K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0440% | 1h | 0.1280 | +0.104% | $712 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0485% | 1h | 0.1280 | +0.073% | $808K | $576K | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP
Kraken Futures PF_OPUSD