Funding you earn now, next payment 02:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.032%
Price spread now: Orderly against Hyperliquid−0.150%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.002%$0 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.150% cheaper against Hyperliquid than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid OP | 0.1264 | 0.0100 | pay 0.0013% / 1h | 11m 04s | $3.7M | $3.0M | 5x |
| Short | Orderly PERP_OP_USDC | 0.1262 | 0.0054 | get 0.0054% / 8h | 6h 11m | $6K | $47K | 10x |
Hyperliquid OP
Orderly PERP_OP_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$9.62
- Price spread: −0.150% → 0.000%
- −$15.03
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$39.65
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 10 min ago; Orderly: 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, 10 min ago | 1.19 bp | 11.6 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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.
OP on 29 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 | −0.1535% | 1h | 0.1255 | −0.704% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1262 | −0.132% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0184% | 1h | 0.1279 | +1.195% | $25K | $75K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1263 | −0.091% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1263 | −0.071% | $42K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1263 | −0.097% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDCshort | +0.0054% | 8h | 0.1262 | −0.150% | $6K | $47K | 10x | |
| Variational Omni OP | +0.0056% | 8h | 0.1261 | −0.227% | $224K | $49K | — | as long as short |
| OKX OP-USDT-SWAP | +0.0070% | 8h | 0.1262 | −0.182% | $6.1M | $29.7M | 50x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1264 | +0.024% | $281K | $949K | 15x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
OKX OP-USDT-SWAP
Lighter OPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid OPlong | +0.0100% | 1h | 0.1264 | long leg | $3.7M | $3.0M | 5x | |
| Aster OPUSDT | +0.0100% | 8h | 0.1263 | −0.094% | $211K | $229K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1262 | −0.121% | $20.3M | $61.9M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1262 | −0.174% | $18.3M | $25.9M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1264 | −0.016% | $1.9M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1263 | −0.063% | $20.7M | $7.5M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1262 | −0.150% | $2.9M | $6.9M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1262 | −0.150% | $5.9M | $6.6M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1263 | −0.071% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1262 | −0.127% | $124K | $202K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1260 | −0.284% | $4K | $390K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1260 | −0.309% | $310K | $5.2M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1260 | −0.309% | $43K | $706K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1263 | −0.087% | $175 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1264 | +0.040% | $174K | $223K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1263 | −0.109% | $104K | $393K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1263 | −0.071% | $3K | $1K | 3x | as long as short |
| Reya OPRUSDPERP | +0.0439% | 1h | 0.1261 | −0.210% | $701 | — | 20x | as long as short |
| Kraken Futures PF_OPUSD | +0.0461% | 1h | 0.1264 | +0.029% | $798K | $588K | 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
Reya OPRUSDPERP
Kraken Futures PF_OPUSD