Funding you earn now, next payment 08:00 UTC−0.0044%/8h= −4.9% APRpaid last 24h −0.077%
Price spread now: Hyperliquid against Orderly−0.056%7-day average +0.092% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.078%−$8 on $10k
+Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.056%, 7d avg +0.092%
=Together, before fees+0.010%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Hyperliquid is 0.148% cheaper against Orderly than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.092%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_USELESS_USDC | 0.2873 | 0.0978 | pay 0.0489% / 4h | 43m 39s | $22K | $1.6M | 10x |
| Short | Hyperliquid USELESS | 0.2872 | 0.0934 | get 0.0117% / 1h | 43m 39s | $12.6M | $23.5M | 3x |
Orderly PERP_USELESS_USDC
Hyperliquid USELESSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Orderly. 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
- −$9.32
- Price spread: −0.056% → +0.092%
- −$14.8
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$39.12
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 9 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 9 min ago | 0.88 bp | 25.6 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
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.
USELESS on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter USELESS | +0.0096% | 1h | 0.2869 | −0.153% | $1.3M | $1.2M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2864 | −0.304% | $30K | $19K | 3x | as long as short |
| KuCoin USELESSUSDTM | +0.0100% | 4h | 0.2869 | −0.160% | $5.2M | $10.7M | 12x | as long as short |
| Bitget USELESSUSDT | +0.0100% | 4h | 0.2869 | −0.139% | $5.5M | $10.6M | 20x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2875 | +0.073% | $29K | $271K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2874 | +0.014% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2876 | +0.108% | $19K | $516K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2875 | +0.049% | $647K | $1.2M | 20x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0121% | 4h | 0.2869 | −0.143% | $9.9M | $72.0M | 10x | as long as short |
| Aevo USELESS-PERP | +0.0160% | 1h | 0.2873 | −0.008% | $10K | — | 3x | as long as short |
Lighter USELESS
Pacifica USELESS
KuCoin USELESSUSDTM
Bitget USELESSUSDT
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
OKX USELESS-USDT-SWAP
Aevo USELESS-PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni USELESSUSDT | +0.0230% | 1h | 0.2874 | +0.028% | $53K | $701K | 25x | as long as short |
| Aster USELESSUSDT | +0.0261% | 4h | 0.2870 | −0.125% | $562K | $2.2M | 10x | as long as short |
| edgeX USELESSUSDC | +0.0294% | 4h | 0.2872 | −0.039% | $21K | $198K | 10x | as long as short |
| Extended USELESS-USD | +0.0304% | 1h | 0.2869 | −0.155% | $244K | $1.3M | 5x | as long as short |
| MEXC USELESS_USDT | +0.0304% | 4h | 0.2868 | −0.167% | $12.1M | $6.1M | 50x | as long as short |
| Binance USELESSUSDT | +0.0306% | 4h | 0.2871 | −0.090% | $23.9M | $125.1M | 50x | as long as short |
| Gate USELESS_USDT | +0.0428% | 4h | 0.2868 | −0.188% | $7.2M | $8.7M | 50x | as long as short |
| BingX USELESS-USDT | +0.0466% | 4h | 0.2870 | −0.108% | — | $5.3M | — | as long as short |
| Bybit USELESSUSDT | +0.0525% | 4h | 0.2871 | −0.070% | $27.1M | $49.7M | 13x | as long as short |
| Variational Omni USELESS | +0.0556% | 4h | 0.2875 | +0.076% | $1.2M | $1.9M | — | as long as short |
| BloFin USELESS-USDT | +0.0750% | 4h | 0.2877 | +0.118% | $1.2M | $2.2M | 12x | as long as short |
| Hyperliquid USELESSshort | +0.0934% | 1h | 0.2872 | −0.056% | $12.6M | $23.5M | 3x | |
| Orderly PERP_USELESS_USDClong | +0.0978% | 4h | 0.2873 | long leg | $22K | $1.6M | 10x | |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.3006 | +4.629% | $5K | $11K | 5.5x | as long as short |
ApeX Omni USELESSUSDT
Aster USELESSUSDT
edgeX USELESSUSDC
Extended USELESS-USD
MEXC USELESS_USDT
Binance USELESSUSDT
Gate USELESS_USDT
BingX USELESS-USDT
Bybit USELESSUSDT
Variational Omni USELESS
BloFin USELESS-USDT
Injective USELESS/USDC PERP