Settings8H · net · $10k
LanguageThe language of the site
ThemeDark, or a soft blue-grey
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / Crypto

VIRTUAL

All VIRTUAL markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
HyperliquidVIRTUAL
0.6292+0.0100pay 0.0013% / 1h34m 37s$5.8M$614K5xLong Hyperliquid4% off
SHORT
TxFlowVIRTUAL-USDC
0.6282−0.0138pay 0.0017% / 1h34m 37s$40K$111K50xShort TxFlow5% off
Price gap−0.153%
Funding gap−0.0238% /8h

The gap pays +$3 on $10k if it goes back to its 7d average, but funding costs $7 a day and eats that in about 10 hours.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$39−0.0238% /8h now · paid −0.391% over the last 7D
Price+$3spread −0.153% now, avg −0.181% → +0.029% if it goes back
Costs−$340.339% of $10k · taker + slippage, in and out
Result−$70−0.70%+ Points / potential airdropHyperliquid: Season 2 · TxFlow: points · farm boardWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.153%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

VIRTUAL on 33 exchanges

lowest funding first

Before you open

4 ok · 2 to watch
  • Watch: Large against open interest7.4 / 12.6 bp
    $10k is over 10% of TxFlow’s open interest.
  • Note: Margin at max leverage$2,000 + $200
    Hyperliquid 5x, TxFlow 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • OK: Same payment interval1h / 1h
    Both legs pay at the same time.
    Next 24h at the current rates, on $10k a leg: −$7.14Long Hyperliquid: 24 payments, −$3.00; short TxFlow: 24 payments, −$4.14.
  • OK: Entry gap works for you−0.153% vs −0.181%
    You short the dearer leg. If the gap goes back to average, the short gains.
  • Watch: Short leg is thinner$40K vs $5.8M OI
    TxFlow sets your exit cost. Check its book before closing.
  • OK: Points on a legHyperliquid Season 2 · TxFlow points
    Volume here counts toward the points program.
  • OK: No KYC on either legHyperliquid No · TxFlow No
    Both exchanges let you trade without ID.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned−0.0186%/8h × 21 periods−$39.13
Price spread−0.153% → −0.181% (7d avg)+$2.87
Slippage, 4 orderslive order books−$15.93
Fee Hyperliquid bp × 2 orders−$9.00
Fee TxFlow bp × 2 orders−$9.00
Net · 7 days · $10k−$70.19
Costs to cover0.339%Break-evennever at this rate
Slippage: Hyperliquid: live order book, 2 min ago; TxFlow: live order book, 13 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGHyperliquid0.327.4 bp−$725.5 bp−$255doesn’t fitdoesn’t fit
SELL · SHORTTxFlow0.8012.6 bp−$1321.1 bp−$211266.9 bp−$26.7Kdoesn’t fit

Closing costs about the same again.

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