Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.196%
Price spread now: Bluefin against Hyperliquid−0.027%7-day average −0.095% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$210.211% of the position
Funding, last 7 days−0.331%−$33 on $10k
+Price spread, last 3 days (all we have)−0.062%−$6 · spread now −0.027%, 7d avg −0.095%
=Together, before fees−0.393%+ Points / potential airdropHyperliquid: Season 2 · farm board−$39 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bluefin is 0.068% dearer against Hyperliquid than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.095%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 85,618 | 0.0100 | pay 0.0013% / 1h | 0m 51s | $3.76B | $4.92B | 40x |
| Short | Bluefin BTC-PERP | 85,594.9 | 0.0100 | get 0.0013% / 1h | 0m 51s | $197K | $722K | 40x |
Hyperliquid BTC
Bluefin BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bluefin 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
- $0
- Price spread: −0.027% → −0.095%
- $6.8
- Slippage, 4 orders
- −$5.11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Net
- −$14.31
- Costs to cover
- 0.211%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 13 min ago; Bluefin: live order book, 3 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, 13 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 5.2 bp −$520 | doesn't fit |
| Sell Bluefin live order book, 3 min ago | 0.88 bp | 6.0 bp −$6 | 11.3 bp −$113 | doesn't fit | doesn't fit |
BTC on 55 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0144% | 1h | 85,616 | −0.002% | $2.1M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,601 | −0.020% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0064% | 1h | 85,553.7 | −0.075% | $362K | $2.3M | 50x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,582.9 | −0.041% | $16.7M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,569.3 | −0.057% | $36.6M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,661 | +0.050% | $340K | $26.9M | 52x | as long as short |
| KuCoin XBTUSDTM | +0.0023% | 8h | 85,514.1 | −0.121% | $901.5M | $748.9M | 125x | as long as short |
| Aster BTCUSDT | +0.0023% | 8h | 85,545.6 | −0.085% | $515.8M | $1.12B | 200x | as long as short |
| Nado BTC-PERP | +0.0032% | 1h | 85,552.1 | −0.077% | $22.6M | $225.2M | 50x | as long as short |
| RISEx BTC/USDC | +0.0044% | 1h | 85,585 | −0.039% | $8.4M | $42.2M | 25x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
KuCoin XBTUSDTM
Aster BTCUSDT
Nado BTC-PERP
RISEx BTC/USDCShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0056% | 8h | 85,518 | −0.117% | — | $17.0M | — | as long as short |
| HTX BTC-USDT | +0.0058% | 8h | 85,555.5 | −0.073% | $2.27B | $933.0M | 200x | as long as short |
| Reya BTCRUSDPERP | +0.0062% | 1h | 85,547.8 | −0.082% | $6.7M | $146.4M | 40x | as long as short |
| Bitget BTCUSDT | +0.0069% | 8h | 85,520.2 | −0.114% | $2.94B | $5.03B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,548.3 | −0.081% | $2.5M | $1.7M | 20x | as long as short |
| SunX BTC-USDT | +0.0080% | 8h | 85,564.8 | −0.062% | $2.9M | $6.5M | 100x | as long as short |
| MEXC BTC_USDT | +0.0086% | 8h | 85,528.1 | −0.105% | $5.07B | $5.77B | 500x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,533 | −0.099% | $9.32B | $23.95B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,554.8 | −0.074% | $170.2M | $997.1M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,558 | −0.070% | $23.9M | $149.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,553 | −0.076% | $8.4M | $51.6M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0099% | 8h | 85,603.7 | −0.017% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,534 | −0.098% | $204K | $7.6M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 85,618 | long leg | $3.76B | $4.92B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 85,589.5 | −0.033% | $40.2M | $569.5M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,535 | −0.097% | $5.32B | $9.62B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,535.1 | −0.097% | $2.56B | $12.14B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,569 | −0.057% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,530.7 | −0.102% | $7.1M | $96.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,540.2 | −0.091% | $5.58B | $10.61B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,545.5 | −0.085% | $35.0M | $168.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,545 | −0.085% | $154.0M | $554.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,613.3 | −0.006% | $278.5M | $939.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,624 | +0.007% | $214.9M | $162.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,624.5 | +0.008% | $140.0M | $316.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,623.8 | +0.007% | $30.3M | $210.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,620.5 | +0.003% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,549 | −0.081% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,559 | −0.069% | $188K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,557.2 | −0.071% | $2.4M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERPshort | +0.0100% | 1h | 85,594.9 | −0.027% | $197K | $722K | 40x | |
| Derive BTC-PERP | +0.0100% | 1h | 85,554.5 | −0.074% | $30.0M | $52.7M | 15x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,551 | −0.078% | $59.9M | $336.4M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,554.3 | −0.074% | $150.2M | $479.7M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,593.2 | −0.029% | $605.0M | $283.5M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,507.8 | −0.129% | $44.1M | $227.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,569.3 | −0.057% | — | $101.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,592 | −0.030% | $130.7M | $5.08B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,575.6 | −0.050% | $187.0M | $952.2M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0183% | 1h | 85,619 | +0.001% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 85,631.9 | +0.016% | $682K | $7.8M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0186% | 1h | 85,565.7 | −0.061% | $13.5M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0211% | 1h | 85,603.3 | −0.017% | $894.9M | $1.52B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0212% | 8h | 85,586 | −0.037% | $10.2M | $765.3M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,605.3 | −0.015% | $511K | $19.9M | 6.7x | as long as short |
BingX BTC-USDC
HTX BTC-USDT
Reya BTCRUSDPERP
Bitget BTCUSDT
Aevo BTC-PERP
SunX BTC-USDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SoDEX BTC-USD
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
Perpl BTC