S

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0402%/8h= +44.0% APRnext payment +$0.50 per $10,000 · paid last 24h −0.046%

Price spread now: Deribit against Hyperliquid+0.448%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

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 for this trade now. Funding pays +$12 a day on $10k at the current rate, and Deribit is 0.448% dearer against Hyperliquid than usual: you sell high and buy low: +$45 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid S	0.03974	0.0100	pay 0.0013% / 1h	56m 50s	$994K	$623K	5x
Short	Deribit S_USDC-PERPETUAL	0.03992	0.0502	get 0.0063% / 1h	56m 50s	$67K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee DeribitbpOrdersPrice spread, now +0.448%Rate

Funding earned: $84.43
Price spread: +0.448% → 0.000%: $44.79
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $113.22
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 3 min ago; Deribit: 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, 3 min ago	1.63 bp	13.1 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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
Coinbase International S-PERP-INTX	−0.1464%	1h	0.03959	−0.382%	$49K	$5K	25x	as long as short
Kraken Futures PF_SUSD	−0.1272%	1h	0.03984	+0.246%	$34K	$23K	10x	as long as short
Variational Omni S	−0.0657%	4h	0.03977	+0.078%	$619K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03989	+0.370%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03987	+0.325%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03987	+0.331%	$615	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.165%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0039%	4h	0.03987	+0.322%	$102K	$331K	10x	as long as short
01 Exchange SUSD	+0.0064%	1h	0.03980	+0.146%	$25K	$2K	5x	as long as short
Lighter S	+0.0096%	1h	0.03979	+0.121%	$163K	$164K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid Slong	+0.0100%	1h	0.03974	long leg	$994K	$623K	5x
Aster SUSDT	+0.0100%	4h	0.03981	+0.178%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03977	+0.076%	$5.4M	$15.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03975	+0.020%	$5.7M	$4.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03972	−0.055%	$976K	$4.4M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03985	+0.272%	$328K	$199K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03977	+0.070%	$3.6M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03980	+0.146%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03975	+0.020%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03980	+0.146%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04000	+0.649%	$26K	$446K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03977	+0.078%	$224K	$1.1M	10x	as long as short
Backpack S_USDC_PERP	+0.0144%	1h	0.03990	+0.398%	$116K	$329K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03986	+0.297%	$270K	$120K	75x	as long as short
Deribit S_USDC-PERPETUALshort	+0.0502%	1h	0.03992	+0.448%	$67K	$10K	10x