Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.035%
Price spread now: Backpack against Hyperliquid+0.064%7-day average +0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$370.373% of the position
Funding, last 7 days+0.067%+$7 on $10k
+Price spread, last 4 days (all we have)−0.055%−$5 · spread now +0.064%, 7d avg +0.026%
=Together, before fees+0.013%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 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: Backpack is 0.038% dearer against Hyperliquid than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.026%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid SEI | 0.05928 | 0.0100 | pay 0.0013% / 1h | 16m 31s | $3.4M | $6.5M | 5x |
| Short | Backpack SEI_USDC_PERP | 0.05932 | 0.0100 | get 0.0013% / 1h | 16m 31s | $116K | $565K | 10x |
Hyperliquid SEI
Backpack SEI_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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
- $0
- Price spread: +0.064% → +0.026%
- $3.84
- Slippage, 4 orders
- −$18.25
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$33.41
- Costs to cover
- 0.373%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 6 min ago; Backpack: live order book, 62 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 Hyperliquid live order book, 6 min ago | 0.76 bp | 11.4 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 62 min ago | 0.85 bp | 9.1 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
SEI on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| GMX SEI/USD [ETH-USDC] | L −0.0802% / S +0.0440% | 1h | 0.05923 | −0.091% | $23K | — | 100x | as long as short |
| Variational Omni SEI | −0.0059% | 8h | 0.05913 | −0.261% | $317K | $222K | — | as long as short |
| gTrade (Gains Network) SEI/USD | L −0.0005% / S +0.0006% | 1h | 0.05923 | −0.089% | $8K | — | 150x | as long as short |
| Deribit SEI_USDC-PERPETUAL | 0.0000% | 1h | 0.05925 | −0.054% | $20K | $62K | 25x | as long as short |
| Lighter SEI | +0.0096% | 1h | 0.05931 | +0.047% | $265K | $1.2M | 10x | as long as short |
| Orderly PERP_SEI_USDC | +0.0100% | 8h | 0.05924 | −0.071% | $1K | $111K | 20x | as long as short |
| Hyperliquid SEIlong | +0.0100% | 1h | 0.05928 | long leg | $3.4M | $6.5M | 5x | |
| Aster SEIUSDT | +0.0100% | 8h | 0.05930 | +0.028% | $310K | $363K | 20x | as long as short |
| Binance SEIUSDT | +0.0100% | 8h | 0.05927 | −0.017% | $14.1M | $126.5M | 75x | as long as short |
| Bybit SEIUSDT | +0.0100% | 8h | 0.05920 | −0.138% | $14.0M | $36.0M | 50x | as long as short |
GMX SEI/USD [ETH-USDC]
Variational Omni SEI
gTrade (Gains Network) SEI/USD
Deribit SEI_USDC-PERPETUAL
Lighter SEI
Orderly PERP_SEI_USDC
Aster SEIUSDT
Binance SEIUSDT
Bybit SEIUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SEI-USDT-SWAP | +0.0100% | 4h | 0.05923 | −0.088% | $3.1M | $39.9M | 50x | as long as short |
| Gate SEI_USDT | +0.0100% | 8h | 0.05926 | −0.037% | $1.1M | $3.5M | 75x | as long as short |
| MEXC SEI_USDT | +0.0100% | 8h | 0.05924 | −0.071% | $34.6M | $26.3M | 300x | as long as short |
| KuCoin SEIUSDTM | +0.0100% | 8h | 0.05928 | −0.003% | $6.1M | $14.2M | 75x | as long as short |
| Bitget SEIUSDT | +0.0100% | 8h | 0.05925 | −0.054% | $9.3M | $16.9M | 75x | as long as short |
| BingX SEI-USDT | +0.0100% | 8h | 0.05926 | −0.037% | — | $33.2M | — | as long as short |
| Backpack SEI_USDC_PERPshort | +0.0100% | 1h | 0.05932 | +0.064% | $116K | $565K | 10x | |
| GRVT SEI_USDT_Perp | +0.0100% | 8h | 0.05932 | +0.059% | $202K | $1.5M | 10x | as long as short |
| ApeX Omni SEIUSDT | +0.0100% | 1h | 0.05940 | +0.199% | $108K | $673K | 50x | as long as short |
| SunX SEI-USDT | +0.0100% | 8h | 0.05934 | +0.098% | $22K | $4.6M | 30x | as long as short |
| Extended SEI-USD | +0.0104% | 1h | 0.05923 | −0.081% | $75K | $476K | 25x | as long as short |
| BloFin SEI-USDT | +0.0220% | 8h | 0.05925 | −0.054% | $713K | $1.2M | 75x | as long as short |
| Kraken Futures PF_SEIUSD | +0.0323% | 1h | 0.05931 | +0.052% | $368K | $1.6M | 50x | as long as short |
| Coinbase International SEI-PERP-INTX | +0.0328% | 1h | 0.05922 | −0.105% | $33K | $207K | 50x | as long as short |
| Reya SEIRUSDPERP | +0.0346% | 1h | 0.05923 | −0.094% | $113 | — | 20x | as long as short |
| Injective SEI/USDC PERP | +0.1153% | 1h | 0.05921 | −0.121% | $8K | $43K | 12x | as long as short |
| dYdX SEI-USD | +0.2001% | 1h | 0.05930 | +0.031% | $101K | $2K | 5x | as long as short |
OKX SEI-USDT-SWAP
Gate SEI_USDT
MEXC SEI_USDT
KuCoin SEIUSDTM
Bitget SEIUSDT
BingX SEI-USDT
GRVT SEI_USDT_Perp
ApeX Omni SEIUSDT
SunX SEI-USDT
Extended SEI-USD
BloFin SEI-USDT
Kraken Futures PF_SEIUSD
Coinbase International SEI-PERP-INTX
Reya SEIRUSDPERP
Injective SEI/USDC PERP
dYdX SEI-USD