Funding you earn now, next payment 01:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.01 per $10,000 · paid last 24h −0.010%
Price spread now: Coinbase International against Hyperliquid−0.028%7-day average −0.032% · you buy dearer than you sell
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$190.191% of the position
Funding, last 7 days−0.058%−$6 on $10k
+Price spread, last 3 days (all we have)−0.008%−$1 · spread now −0.028%, 7d avg −0.032%
=Together, before fees−0.066%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.058%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 85,816 | 0.0100 | pay 0.0013% / 1h | 24m 03s | $3.76B | $4.97B | 40x |
| Short | Coinbase International BTC-PERP-INTX | 85,792 | 0.0112 | get 0.0014% / 1h | 24m 03s | $131.1M | $5.15B | 50x |
Hyperliquid BTC
Coinbase International BTC-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
- $2.52
- Price spread: −0.028% → −0.032%
- $0.43
- Slippage, 4 orders
- −$0.13
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$16.18
- Costs to cover
- 0.191%
- Break-even
- 51.9 days
Slippage from Hyperliquid: live order book, 10 min ago; Coinbase International: live order book, 5 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, 10 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.6 bp −$456 | 5.3 bp −$2,650 |
| Sell Coinbase International live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.9 bp −$589 | 14.3 bp −$7,127 |
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 | 85,733 | −0.097% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,777 | −0.045% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0064% | 1h | 85,745.4 | −0.082% | $365K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,805.5 | −0.012% | $514K | $20.5M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0002% | 1h | 85,800 | −0.019% | $16.8M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,768.7 | −0.055% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,691 | −0.146% | $340K | $26.9M | 52x | as long as short |
| KuCoin XBTUSDTM | +0.0033% | 8h | 85,735.7 | −0.094% | $903.4M | $754.4M | 125x | as long as short |
| Aster BTCUSDT | +0.0037% | 8h | 85,753 | −0.073% | $516.6M | $1.14B | 200x | as long as short |
| RISEx BTC/USDC | +0.0044% | 1h | 85,779.1 | −0.043% | $8.2M | $42.0M | 25x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
KuCoin XBTUSDTM
Aster BTCUSDT
RISEx BTC/USDCShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0055% | 1h | 85,792.9 | −0.027% | $22.6M | $227.5M | 50x | as long as short |
| BingX BTC-USDT | +0.0055% | 8h | 85,763.7 | −0.061% | — | $1.57B | — | as long as short |
| Reya BTCRUSDPERP | +0.0058% | 1h | 85,751.1 | −0.076% | $6.7M | $146.3M | 40x | as long as short |
| Bitget BTCUSDT | +0.0070% | 8h | 85,753.8 | −0.072% | $2.95B | $5.08B | 150x | as long as short |
| ApeX Omni BTCUSDT | +0.0070% | 1h | 85,752.5 | −0.074% | $140.2M | $319.5M | 100x | as long as short |
| HTX BTC-USDT | +0.0075% | 8h | 85,734.1 | −0.095% | $2.27B | $946.6M | 200x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,746.3 | −0.081% | $2.5M | $1.8M | 20x | as long as short |
| MEXC BTC_USDT | +0.0091% | 8h | 85,751.4 | −0.075% | $5.07B | $5.73B | 500x | as long as short |
| Binance BTCUSDT | +0.0092% | 8h | 85,751.2 | −0.075% | $9.34B | $24.30B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,762.3 | −0.063% | $170.4M | $990.4M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,769.6 | −0.054% | $23.5M | $147.4M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,757 | −0.069% | $8.4M | $51.9M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,732 | −0.098% | $202K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,740.5 | −0.088% | $3.8M | $8.4M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 85,816 | long leg | $3.76B | $4.97B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 85,808 | −0.009% | $40.3M | $571.4M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,765.7 | −0.059% | $5.31B | $9.74B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,770.9 | −0.053% | $2.54B | $12.36B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,764 | −0.061% | $4.0M | $18.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,726.5 | −0.104% | $7.3M | $98.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,744.8 | −0.083% | $590.5M | $195.3M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,759.3 | −0.066% | $5.61B | $10.54B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,745.8 | −0.082% | $35.4M | $164.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,799.4 | −0.019% | $156.6M | $556.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,740.4 | −0.088% | $278.7M | $939.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,752.4 | −0.074% | $215.2M | $166.3M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,779.6 | −0.042% | $30.3M | $208.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,819.6 | +0.004% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,752 | −0.075% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,764 | −0.061% | $187K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,754.9 | −0.071% | $2.4M | $9.0M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,781.2 | −0.041% | $186K | $708K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,760.3 | −0.065% | $30.0M | $56.2M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,722 | −0.110% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,756 | −0.070% | $60.0M | $337.3M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,756.3 | −0.070% | $154.2M | $480.4M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,734.1 | −0.095% | $44.1M | $228.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,768.4 | −0.055% | — | $100.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTXshort | +0.0112% | 1h | 85,792 | −0.028% | $131.1M | $5.15B | 50x | |
| Hibachi BTC/USDT-P | +0.0136% | 1h | 85,815.6 | 0.000% | $697K | $7.9M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,775.9 | −0.047% | $188.5M | $962.9M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0164% | 1h | 85,750.4 | −0.076% | $78K | $219K | 20x | as long as short |
| Deribit BTC-PERPETUAL | +0.0176% | 1h | 85,797.4 | −0.022% | $894.7M | $1.53B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0190% | 1h | 85,766.1 | −0.058% | $13.6M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0211% | 8h | 85,798 | −0.021% | $10.1M | $769.9M | 6.4x | as long as short |
Nado BTC-PERP
BingX BTC-USDT
Reya BTCRUSDPERP
Bitget BTCUSDT
ApeX Omni BTCUSDT
HTX BTC-USDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP