Funding you earn now, next payment 23:00 UTC+0.0091%/8h= +9.9% APRnext payment +$0.11 per $10,000 · paid last 24h +0.039%
Price spread now: Hyperliquid against Backpack+0.055%7-day average +0.075% · you sell dearer than you buy
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$330.326% of the position
Funding, last 7 days−0.021%−$2 on $10k
+Price spread, last 4 days (all we have)+0.091%+$9 · spread now +0.055%, 7d avg +0.075%
=Together, before fees+0.070%+ Points / potential airdropHyperliquid: Season 2 · farm board+$7 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.020% cheaper against Backpack than usual: you would sell low and buy high (spread +0.055% now, against its 7-day average of +0.075%). If the spread goes back, that is −$2 on $10k: about 18 hours of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack XLM_USDC_PERP | 0.2168 | 0.0318 | pay 0.0040% / 1h | 52m 03s | $103K | $239K | 20x |
| Short | Hyperliquid XLM | 0.2169 | 0.0409 | get 0.0051% / 1h | 52m 03s | $12.3M | $6.0M | 5x |
Backpack XLM_USDC_PERP
Hyperliquid XLMFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Backpack. 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
- $19.05
- Price spread: +0.055% → +0.075%
- −$2.01
- Slippage, 4 orders
- −$13.63
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$15.58
- Costs to cover
- 0.326%
- Break-even
- 12.7 days
Slippage from Backpack: live order book, 31 min ago; Hyperliquid: live order book, 11 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 Backpack live order book, 31 min ago | 0.70 bp | 8.0 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.23 bp | 7.9 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
XLM on 31 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2168 | −0.012% | $4K | — | 150x | as long as short |
| dYdX XLM-USD | +0.0032% | 1h | 0.2169 | +0.036% | $24K | $3K | 10x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2168 | 0.000% | $589K | $799K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2167 | −0.035% | $56.5M | $148.0M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2167 | −0.055% | $44.0M | $42.4M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2167 | −0.060% | $13.2M | $41.5M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2167 | −0.042% | $4.0M | $5.9M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2167 | −0.042% | $25.7M | $25.5M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2167 | −0.065% | $14.6M | $10.5M | 75x | as long as short |
| Bitget XLMUSDT | +0.0100% | 8h | 0.2167 | −0.046% | $25.9M | $18.5M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
dYdX XLM-USD
Aster XLMUSDT
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTM
Bitget XLMUSDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX XLM-USDT | +0.0100% | 8h | 0.2167 | −0.032% | — | $7.0M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2175 | +0.342% | $242K | $1.1M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2179 | +0.516% | $12K | $299K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2178 | +0.463% | $605K | $610K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2179 | +0.507% | $175K | $256K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2169 | +0.051% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2165 | −0.111% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2167 | −0.037% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2171 | +0.143% | $201K | $272K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2167 | −0.037% | $9.1M | $9.1M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2167 | −0.058% | $194K | $1.6M | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2170 | +0.101% | $2.3M | $6.3M | 75x | as long as short |
| Phoenix XLM | +0.0221% | 1h | 0.2176 | +0.383% | $5K | $41K | 5x | as long as short |
| Backpack XLM_USDC_PERPlong | +0.0318% | 1h | 0.2168 | long leg | $103K | $239K | 20x | |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0342% / S −0.0194% | 1h | 0.2168 | +0.008% | $49K | — | 100x | as long as short |
| Hyperliquid XLMshort | +0.0409% | 1h | 0.2169 | +0.055% | $12.3M | $6.0M | 5x | |
| Coinbase International XLM-PERP-INTX | +0.0432% | 1h | 0.2173 | +0.221% | $231K | $1.5M | 50x | as long as short |
| Injective XLM/USDC PERP | +0.0475% | 1h | 0.2156 | −0.549% | $116 | $185K | 12x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0504% | 1h | 0.2167 | −0.022% | $2.6M | $2.6M | 50x | as long as short |
| Deribit XLM_USDC-PERPETUAL | +0.0534% | 1h | 0.2170 | +0.083% | $538K | $174K | 25x | as long as short |
| Lighter XLM | +0.0688% | 1h | 0.2171 | +0.138% | $427K | $804K | 5x | as long as short |
BingX XLM-USDT
Variational Omni XLM
edgeX XLMUSDC
GRVT XLM_USDT_Perp
ApeX Omni XLMUSDT
Orderly PERP_XLM_USDC_mythos
SunX XLM-USDT
SoDEX XLM-USD
HTX XLM-USDT
Phemex XLMUSDT
Extended XLM-USD
BloFin XLM-USDT
Phoenix XLM
GMX XLM/USD [WBTC.b-USDC]
Coinbase International XLM-PERP-INTX
Injective XLM/USDC PERP
Kraken Futures PF_XLMUSD
Deribit XLM_USDC-PERPETUAL
Lighter XLM