Funding you earn now, next payment 23:00 UTC−0.0160%/8h= −17.5% APRnext payment −$0.20 per $10,000 · paid last 24h +0.047%
Price spread now: Hyperliquid against Deribit−0.130%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+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 −$5 a day on $10k at the current rate, and Hyperliquid is 0.130% cheaper against Deribit than usual: you would sell low and buy high (−$13 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 | Deribit S_USDC-PERPETUAL | 0.03923 | 0.0260 | pay 0.0033% / 1h | 1m 45s | $66K | $10K | 10x |
| Short | Hyperliquid S | 0.03918 | 0.0100 | get 0.0013% / 1h | 1m 45s | $982K | $713K | 5x |
Deribit S_USDC-PERPETUAL
Hyperliquid SFunding 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
- −$33.61
- Price spread: −0.130% → 0.000%
- −$13
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$62.61
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 38 min ago. 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 38 min ago | 3.68 bp | 20.0 bp −$20 | doesn't fit | doesn't fit | doesn't fit |
Deribit: 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.
S on 25 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange SUSD | −0.2016% | 1h | 0.03850 | −1.861% | $23K | $2K | 5x | as long as short |
| Kraken Futures PF_SUSD | −0.1598% | 1h | 0.03912 | −0.284% | $33K | $25K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1576% | 1h | 0.03826 | −2.473% | $47K | $5K | 25x | as long as short |
| Variational Omni S | −0.0957% | 4h | 0.03896 | −0.689% | $606K | $31K | — | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0198% / S +0.0192% | 1h | 0.03921 | −0.061% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.03911 | −0.300% | $4 | — | 15x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.03920 | −0.069% | $604 | — | 150x | as long as short |
| Orderly PERP_S_USDC | +0.0031% | 4h | 0.03918 | −0.127% | $100K | $343K | 10x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +4.512% | $2K | $37K | 12x | as long as short |
| Lighter S | +0.0096% | 1h | 0.03920 | −0.076% | $164K | $223K | 5x | as long as short |
01 Exchange SUSD
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
Variational Omni S
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
gTrade (Gains Network) S/USD
Orderly PERP_S_USDC
Injective S/USDC PERP
Lighter SShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid Sshort | +0.0100% | 1h | 0.03918 | −0.130% | $982K | $713K | 5x | |
| Aster SUSDT | +0.0100% | 4h | 0.03920 | −0.084% | $43K | $212K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.03917 | −0.162% | $5.3M | $18.0M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.03911 | −0.306% | $5.6M | $5.4M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.03913 | −0.255% | $976K | $5.4M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.03910 | −0.331% | $319K | $266K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.03918 | −0.127% | $3.6M | $2.3M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.03914 | −0.229% | $1.8M | $3.0M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.03918 | −0.127% | $1.2M | $2.5M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03915 | −0.204% | — | $6.7M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.03900 | −0.586% | $25K | $453K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03916 | −0.179% | $219K | $877K | 10x | as long as short |
| Deribit S_USDC-PERPETUALlong | +0.0260% | 1h | 0.03923 | long leg | $66K | $10K | 10x | |
| BloFin S-USDT | +0.0340% | 4h | 0.03914 | −0.229% | $266K | $125K | 75x | as long as short |
| Backpack S_USDC_PERP | +0.0394% | 1h | 0.03920 | −0.076% | $114K | $302K | 5x | as long as short |
Aster SUSDT
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT
Backpack S_USDC_PERP