Funding you earn now, next payment 05:00 UTC−0.0231%/8h= −25.3% APRpaid last 24h −0.031%
Price spread now: Binance against Hyperliquid−0.202%7-day average −0.102% · you buy dearer than you sell
Net, funding: paid 7d − costs−$97as in the Funding arb table
Net, price: spread back to 7d avg − costs−$91as in the Price arb table
costs, in and out, $10k−$810.807% of the position
Funding, last 7 days−0.161%−$16 on $10k
+Price spread, last 7 days+0.157%+$16 · spread now −0.202%, 7d avg −0.102%
=Together, before fees−0.004%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Binance is 0.099% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.102%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.161% in total (about -8.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid SPX | 0.5199 | 0.0331 | pay 0.0041% / 1h | 34m 34s | $10.6M | $7.8M | 5x |
| Short | Binance SPXUSDT | 0.5189 | 0.0100 | get 0.0050% / 4h | 3h 34m | $5.2M | $22.1M | 75x |
Hyperliquid SPX
Binance SPXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$48.5
- Price spread: −0.202% → −0.102%
- −$9.95
- Slippage, 4 orders
- −$61.69
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$139.15
- Costs to cover
- 0.807%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; Binance: live order book, 6 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, 8 min ago | 2.03 bp | 19.2 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 6 min ago | 1.94 bp | 20.2 bp −$20 | 61.9 bp −$619 | 437.2 bp −$43.7K | doesn't fit |
SPX on 19 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 SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −4.235% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5199 | −0.008% | $141K | $359K | 5x | as long as short |
| Binance SPXUSDTshort | +0.0100% | 4h | 0.5189 | −0.202% | $5.2M | $22.1M | 75x | |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5178 | −0.408% | $11.8M | $16.9M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5172 | −0.523% | $946K | $3.1M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5188 | −0.215% | $1.0M | $583K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5191 | −0.158% | $11.9M | $5.0M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5193 | −0.119% | $3.7M | $5.3M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5190 | −0.177% | $2.7M | $1.5M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5183 | −0.312% | — | $6.9M | — | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDT
BingX SPX-USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SPX | +0.0100% | 4h | 0.5168 | −0.608% | $964K | $1.5M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5201 | +0.035% | $26K | $254K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5171 | −0.542% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5182 | −0.331% | $36K | $250K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0208% | 4h | 0.5185 | −0.273% | $21K | $599 | 10x | as long as short |
| Aster SPXUSDT | +0.0246% | 4h | 0.5180 | −0.370% | $138K | $129K | 10x | as long as short |
| Hyperliquid SPXlong | +0.0331% | 1h | 0.5199 | long leg | $10.6M | $7.8M | 5x | |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5172 | −0.523% | $256K | $1.0M | 75x | as long as short |
| Kraken Futures PF_SPXUSD | +0.1211% | 1h | 0.5197 | −0.036% | $254K | $558K | 20x | as long as short |
Variational Omni SPX
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Orderly PERP_SPX_USDC
Aster SPXUSDT
BloFin SPX-USDT
Kraken Futures PF_SPXUSD