Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.023%
Price spread now: Hyperliquid against Extended+0.183%7-day average +0.105% · you sell dearer than you buy
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$620.621% of the position
Funding, last 7 days−0.065%−$7 on $10k
+Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.183%, 7d avg +0.105%
=Together, before fees−0.130%+ Points / potential airdropExtended: Active · Hyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.079% dearer against Extended than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.105%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended OP-USD | 0.1257 | 0.0104 | pay 0.0013% / 1h | 8m 55s | $102K | $393K | 25x |
| Short | Hyperliquid OP | 0.1260 | 0.0100 | get 0.0013% / 1h | 8m 55s | $3.7M | $2.7M | 5x |
Extended OP-USD
Hyperliquid OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Extended. 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
- −$0.84
- Price spread: +0.183% → +0.105%
- $7.85
- Slippage, 4 orders
- −$48.1
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$55.09
- Costs to cover
- 0.621%
- Break-even
- never at this rate
Slippage from Extended: live order book, 44 min ago; Hyperliquid: live order book, 3 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 Extended live order book, 44 min ago | 11.76 bp | 20.9 bp −$21 | 136.1 bp −$1,361 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 3 min ago | 1.59 bp | 9.9 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 | −0.1568% | 1h | 0.1255 | −0.183% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1257 | +0.008% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1259 | +0.117% | $39K | $532 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1258 | +0.056% | $41K | $138K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1258 | +0.035% | — | — | 150x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0032% | 1h | 0.1270 | +1.011% | $25K | $56K | 50x | as long as short |
| Variational Omni OP | +0.0038% | 8h | 0.1258 | +0.057% | $223K | $48K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1257 | −0.023% | $6K | $46K | 10x | as long as short |
| Kraken Futures PF_OPUSD | +0.0057% | 1h | 0.1258 | +0.047% | $771K | $548K | 20x | as long as short |
| OKX OP-USDT-SWAP | +0.0093% | 8h | 0.1258 | +0.064% | $6.2M | $28.3M | 50x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Coinbase International OP-PERP-INTX
Variational Omni OP
Orderly PERP_OP_USDC
Kraken Futures PF_OPUSD
OKX OP-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter OP | +0.0096% | 1h | 0.1258 | +0.048% | $275K | $948K | 15x | as long as short |
| Hyperliquid OPshort | +0.0100% | 1h | 0.1260 | +0.183% | $3.7M | $2.7M | 5x | |
| Aster OPUSDT | +0.0100% | 8h | 0.1259 | +0.119% | $210K | $216K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1258 | +0.056% | $20.3M | $61.0M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1257 | −0.023% | $18.5M | $24.8M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1258 | +0.040% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1257 | −0.015% | $21.1M | $7.4M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1257 | −0.023% | $2.8M | $6.3M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1258 | +0.056% | $5.8M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1257 | −0.023% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1257 | −0.047% | $117K | $206K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1262 | +0.392% | $4K | $385K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1262 | +0.375% | $316K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1263 | +0.454% | $43K | $707K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1257 | −0.015% | $199 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1258 | +0.072% | $170K | $229K | 50x | as long as short |
| Extended OP-USDlong | +0.0104% | 1h | 0.1257 | long leg | $102K | $393K | 25x | |
| Aevo OP-PERP | +0.0104% | 1h | 0.1257 | −0.023% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1257 | −0.031% | $834K | $278K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0442% | 1h | 0.1257 | −0.014% | $699 | — | 20x | as long as short |
Lighter OP
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
Aevo OP-PERP
BloFin OP-USDT
Reya OPRUSDPERP