VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.094%

Price spread now: Hyperliquid against Deribit+0.099%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 5 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 +$3 a day on $10k at the current rate, and Hyperliquid is 0.099% dearer against Deribit than usual: you sell high and buy low: +$10 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	Deribit VIRTUAL_USDC-PERPETUAL	0.7240	0	get 0.0000% / 1h	52m 02s	$15K	$40K	10x
Short	Hyperliquid VIRTUAL	0.7247	0.0100	get 0.0013% / 1h	52m 02s	$8.9M	$4.2M	5x

Funding 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 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 DeribitbpFee HyperliquidbpOrdersPrice spread, now +0.099%Rate

Funding earned: $21
Price spread: +0.099% → 0.000%: $9.94
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: $14.94
Costs to cover: 0.160%
Break-even: 2.0 days

Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 10 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, 10 min ago	1.23 bp	doesn't fit	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.

VIRTUAL on 33 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
ApeX Omni VIRTUALUSDT	−0.1153%	1h	0.7222	−0.249%	$41K	$244K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7240	−0.002%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7245	+0.069%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUALlong	0.0000%	1h	0.7240	long leg	$15K	$40K	10x
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7240	−0.003%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7198	−0.573%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.699%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0040%	1h	0.7235	−0.072%	$329K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7237	−0.041%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUALshort	+0.0100%	1h	0.7247	+0.099%	$8.9M	$4.2M	5x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7239	−0.017%	$172K	$194K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7233	−0.101%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7243	+0.035%	$16.7M	$41.1M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7242	+0.028%	$16.5M	$17.9M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7239	−0.014%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7244	+0.055%	$1.4M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7242	+0.028%	$17.8M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7243	+0.041%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7243	+0.041%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7241	+0.014%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7249	+0.124%	$248K	$176K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7183	−0.782%	$526K	$898K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7225	−0.200%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7185	−0.765%	$636K	$878K	10x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7250	+0.141%	$49K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7235	−0.069%	$1K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7240	+0.007%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7238	−0.026%	$54K	$272K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7240	0.000%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7239	−0.008%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7227	−0.180%	$835K	$854K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7242	+0.028%	$197K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1018%	1h	0.7251	+0.153%	$599K	$664K	50x	as long as short