Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.5283 | +0.0100 | pay 0.0013% / 1h | 33m 36s | $77.9M | $49.1M | 10x | Long Hyperliquid4% off | |
| SHORT | 0.5281 | +0.0096 | get 0.0012% / 1h | 33m 36s | $92K | $504K | 20x | Short Popdex |
Price gap−0.042%
Funding gap−0.0004% /8h
Funding is ≈ 0, so this is a price-spread trade: +$6 on $10k if the gap goes back to its 7d average.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$36−0.0004% /8h now · paid −0.357% over the last 7D
Price+$6spread −0.042% now, avg −0.106% → +0.064% if it goes back
Costs−$500.501% of $10k · taker + slippage, in and out
Result−$79−0.79%+ Points / potential airdropHyperliquid: Season 2 · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / ExitPopdex: thin, under $1M open interest
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.042%
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
/8hWLD on 39 exchanges
lowest funding firstBefore you open
4 ok · 2 to watch- Watch: Thin at this size7.8 / 15.8 bpAt $10k entering Popdex costs 15.8 bp, fee and slippage, 2.0× Hyperliquid’s.
- Note: Margin at max leverage$1,000 + $500Hyperliquid 10x, Popdex 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: −$0.12Long Hyperliquid: 24 payments, −$3.00; short Popdex: 24 payments, +$2.88.
- OK: Entry gap works for you−0.042% vs −0.106%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$92K vs $77.9M OIPopdex sets your exit cost. Check its book before closing.
- OK: Points on a legHyperliquid Season 2Volume here counts toward the points program.
- OK: No KYC on either legHyperliquid No · Popdex NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0186%/8h × 21 periods−$39.10
Price spread−0.042% → −0.106% (7d avg)+$6.45
Slippage, 4 orderslive order books−$34.70
Fee Hyperliquid bp × 2 orders−$9.00
Fee Popdex bp × 2 orders−$6.40
Net · 7 days · $10k−$82.76
Costs to cover0.501%Break-evennever at this rate
Slippage: Hyperliquid: live order book, 10 min ago; Popdex: live order book, 60 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGHyperliquid0.857.8 bp−$813.7 bp−$13756.8 bp−$5,684doesn’t fit
SELL · SHORTPopdex5.4915.8 bp−$16102.4 bp−$1,024doesn’t fitdoesn’t fit
Closing costs about the same again.
Reya