Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.05892 | spot | no funding | — | — | $134K | 1x | Buy Hyperliquid Spot4% off | |
| SHORT | 0.05894 | −0.0466 | pay 0.0058% / 1h | 46m 54s | $44.4M | $14.8M | 10x | Short Hyperliquid4% off |
Price gap+0.039%
Funding gap−0.0466% /8h
Both sides work against this pair now: funding costs $14 a day on $10k and the gap is 0.085% under its 7d average. Spot cannot be shorted here, so there is no reverse.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$38−0.0466% /8h now · paid +0.383% over the last 7D
Price−$9spread +0.039% now, avg +0.124% → −0.085% if it goes back
Costs−$890.892% of $10k · taker + slippage, in and out
Price and funding
1h · historyPrice spread
Prices
Fundingper 8h
PRICE SPREAD · 7D
Now+0.039%
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
/8hXPL on 34 exchanges
lowest funding firstBefore you open
3 ok · 2 to watch- Watch: Thin at this size33.8 / 23.6 bpAt $10k entering Hyperliquid Spot costs 33.8 bp, fee and slippage, 1.4× Hyperliquid’s.
- Note: Spot in full, margin on the short$10,000 + $1,000The spot leg is bought with the whole $10k; Hyperliquid runs at up to 10x. Only the short can be liquidated, when the price rises, while the spot leg's gain is not yet realised: keep about 2× the margin on Hyperliquid.
- OK: Only the short pays funding— / 1hThe spot leg pays no funding; Hyperliquid settles every 1h.Next 24h at the current rates, on $10k a leg: −$13.98Long Hyperliquid Spot: 0 payments, $0.00; short Hyperliquid: 24 payments, −$13.98.
- Watch: Gap narrower than usual+0.039% vs +0.124%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Note: Spot has no open interest$44.4M OIOnly Hyperliquid reports one; the spot book's depth is in the cost check above.
- OK: Points on a legHyperliquid Season 2Volume here counts toward the points program.
- OK: No KYC on either legHyperliquid Spot No · Hyperliquid NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0182%/8h × 21 periods+$38.26
Price spread+0.039% → +0.124% (7d avg)−$8.54
Slippage, 4 orderslive order books−$66.20
Fee Hyperliquid Spot bp × 2 orders−$14.00
Fee Hyperliquid bp × 2 orders−$9.00
Net · 7 days · $10k−$59.48
Costs to cover0.892%Break-even17.9 days
Slippage: Hyperliquid Spot: live order book, 11 min ago; Hyperliquid: live order book, 9 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGHyperliquid Spot9.8933.8 bp−$34doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTHyperliquid0.0923.6 bp−$2464.2 bp−$642203.3 bp−$20.3Kdoesn’t fit
Closing costs about the same again.
Injective