Funding you earn now, next payment 00:00 UTC+0.0395%/8h= +43.3% APRnext payment +$0.49 per $10,000 · paid last 24h +0.100%
Price spread now: Deribit against Hyperliquid+0.102%7-day average −0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$330.329% of the position
Funding, last 7 days+0.155%+$16 on $10k
+Price spread, last 3 days (all we have)−0.265%−$27 · spread now +0.102%, 7d avg −0.011%
=Together, before fees−0.110%+ Points / potential airdropHyperliquid: Season 2 · farm board−$11 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Deribit is 0.113% dearer against Hyperliquid than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.011%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.155% in total (about 8.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.49 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid XLM | 0.2162 | 0.0465 | pay 0.0058% / 1h | 29m 16s | $12.3M | $6.1M | 5x |
| Short | Deribit XLM_USDC-PERPETUAL | 0.2164 | 0.0860 | get 0.0107% / 1h | 29m 16s | $537K | $160K | 25x |
Hyperliquid XLM
Deribit XLM_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Hyperliquid. 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
- $83.03
- Price spread: +0.102% → −0.011%
- $11.3
- Slippage, 4 orders
- −$16.9
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $61.44
- Costs to cover
- 0.329%
- Break-even
- 1.8 days
Slippage from Hyperliquid: live order book, 3 min ago; Deribit: live order book, 50 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 Hyperliquid live order book, 3 min ago | 0.92 bp | 7.3 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 50 min ago | 5.54 bp | 9.0 bp −$9 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective XLM/USDC PERP | −0.5000% | 1h | 0.2033 | −5.949% | $4K | $239K | 12x | as long as short |
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2160 | −0.073% | $4K | — | 150x | as long as short |
| dYdX XLM-USD | +0.0087% | 1h | 0.2161 | −0.045% | $23K | $3K | 10x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2163 | +0.062% | $580K | $752K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2161 | −0.010% | $55.8M | $150.6M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2161 | −0.028% | $43.9M | $44.0M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2162 | +0.005% | $13.1M | $41.7M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2160 | −0.088% | $4.1M | $6.3M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2160 | −0.069% | $25.3M | $26.1M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2160 | −0.079% | $14.5M | $10.4M | 75x | as long as short |
Injective XLM/USDC PERP
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 XLMUSDTMShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget XLMUSDT | +0.0100% | 8h | 0.2162 | +0.005% | $25.7M | $19.3M | 75x | as long as short |
| BingX XLM-USDC | +0.0100% | 8h | 0.2160 | −0.056% | — | $6.7M | — | as long as short |
| Backpack XLM_USDC_PERP | +0.0100% | 1h | 0.2160 | −0.069% | $90K | $269K | 20x | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2160 | −0.062% | $254K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2165 | +0.145% | $12K | $301K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2161 | −0.028% | $598K | $613K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2164 | +0.130% | $173K | $257K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2162 | +0.019% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2161 | −0.019% | $2K | $1.7M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2162 | 0.000% | $2K | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2161 | −0.037% | $199K | $261K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2161 | −0.042% | $9.1M | $9.0M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2162 | +0.009% | $194K | $1.6M | 10x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2162 | +0.009% | $2.3M | $5.6M | 75x | as long as short |
| Phoenix XLM | +0.0222% | 1h | 0.2163 | +0.056% | $5K | $42K | 5x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0316% / S −0.0167% | 1h | 0.2160 | −0.059% | $45K | — | 100x | as long as short |
| Kraken Futures PF_XLMUSD | +0.0412% | 1h | 0.2162 | +0.009% | $2.6M | $2.6M | 50x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0448% | 1h | 0.2164 | +0.111% | $233K | $1.5M | 50x | as long as short |
| Hyperliquid XLMlong | +0.0465% | 1h | 0.2162 | long leg | $12.3M | $6.1M | 5x | |
| Lighter XLM | +0.0552% | 1h | 0.2165 | +0.153% | $419K | $809K | 5x | as long as short |
| Deribit XLM_USDC-PERPETUALshort | +0.0860% | 1h | 0.2164 | +0.102% | $537K | $160K | 25x |
Bitget XLMUSDT
BingX XLM-USDC
Backpack XLM_USDC_PERP
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]
Kraken Futures PF_XLMUSD
Coinbase International XLM-PERP-INTX
Lighter XLM