Funding you earn now, next payment 22:00 UTC−0.0156%/8h= −17.1% APRnext payment −$0.20 per $10,000 · paid last 24h −0.038%
Price spread now: Coinbase International against Hyperliquid−0.045%49s7-day average −0.134% · you buy dearer than you sell
Net, funding: paid 7d − costs−$89as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$550.548% of the position
Funding, last 7 days−0.347%−$35 on $10k
+Price spread, last 3 days (all we have)−0.004%$0 · spread now −0.045%, 7d avg −0.134%
=Together, before fees−0.351%+ Points / potential airdropHyperliquid: Season 2 · farm board−$35 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.090% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.045% now, against its 7-day average of −0.134%): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 46 hours. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ALGO | 0.1121 | 0.0100 | pay 0.0013% / 1h | 25m 27s | $3.7M | $1.9M | 5x |
| Short | Coinbase International ALGO-PERP-INTX | 0.1121 | −0.0056 | pay 0.0007% / 1h | 25m 27s | $62K | $332K | 50x |
Hyperliquid ALGO
Coinbase International ALGO-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$32.76
- Price spread: −0.045% → −0.134%
- $8.98
- Slippage, 4 orders
- −$35.78
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$78.56
- Costs to cover
- 0.548%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 6 min ago; Coinbase International: live order book, 57 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, 6 min ago | 0.45 bp | 11.1 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 57 min ago | 4.89 bp | 18.4 bp −$18 | 27.3 bp −$273 | doesn't fit | doesn't fit |
ALGO on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ALGO_USDC-PERPETUAL | −0.0642% | 1h | 0.1120 | −0.116% | $101K | $50K | 25x | as long as short |
| Injective ALGO/USDC PERP | −0.0295% | 1h | 0.1120 | −0.098% | $834 | $233K | 12x | as long as short |
| Kraken Futures PF_ALGOUSD | −0.0288% | 1h | 0.1120 | −0.109% | $835K | $1.2M | 50x | as long as short |
| Bybit ALGOUSDT | −0.0104% | 8h | 0.1119 | −0.214% | $11.3M | $12.3M | 75x | as long as short |
| Variational Omni ALGO | −0.0088% | 8h | 0.1118 | −0.276% | $65K | $10K | — | as long as short |
| Coinbase International ALGO-PERP-INTXshort | −0.0056% | 1h | 0.1121 | −0.045% | $62K | $332K | 50x | |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1120 | −0.062% | $6K | — | 150x | as long as short |
| Hyperliquid ALGOlong | +0.0100% | 1h | 0.1121 | long leg | $3.7M | $1.9M | 5x | |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1120 | −0.111% | $44K | $36K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1120 | −0.134% | $9.8M | $34.9M | 75x | as long as short |
Deribit ALGO_USDC-PERPETUAL
Injective ALGO/USDC PERP
Kraken Futures PF_ALGOUSD
Bybit ALGOUSDT
Variational Omni ALGO
gTrade (Gains Network) ALGO/USD
Aster ALGOUSDT
Binance ALGOUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1119 | −0.178% | $3.0M | $7.7M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1120 | −0.089% | $889K | $853K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1119 | −0.152% | $23.3M | $2.8M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1120 | −0.116% | $3.6M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1120 | −0.098% | $5.6M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1119 | −0.187% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1119 | −0.196% | $66K | $109K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1121 | −0.009% | $3.8M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1119 | −0.197% | $7K | $210K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1119 | −0.196% | $488K | $792K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0255% / S −0.0188% | 1h | 0.1120 | −0.062% | $5K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1509% | 1h | 0.1120 | −0.100% | $161K | $3K | 5x | as long as short |
OKX ALGO-USDT-SWAP
Gate ALGO_USDT
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
Phemex ALGOUSDT
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD