Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.037%
Price spread now: Phemex against Hyperliquid−0.073%7-day average −0.077% · you buy dearer than you sell
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$220.216% of the position
Funding, last 7 days−0.108%−$11 on $10k
+Price spread, last 4 days (all we have)−0.003%$0 · spread now −0.073%, 7d avg −0.077%
=Together, before fees−0.111%+ Points / potential airdropHyperliquid: Season 2 · farm board−$11 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 85,374 | 0.0100 | pay 0.0013% / 1h | 31m 18s | $3.74B | $5.08B | 40x |
| Short | Phemex BTCUSDT | 85,311.7 | 0.0100 | get 0.0100% / 8h | 1h 31m | $151.6M | $509.7M | 150x |
Hyperliquid BTC
Phemex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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: −0.073% → −0.077%
- $0.43
- Slippage, 4 orders
- −$0.61
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$21.18
- Costs to cover
- 0.216%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 13 min ago; Phemex: 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 | 5.5 bp −$547 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 0.01 bp | 6.5 bp −$6 | 7.6 bp −$76 | 9.6 bp −$961 | doesn't fit |
BTC on 56 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 | −0.0082% | 1h | 85,293 | −0.095% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,279 | −0.111% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0045% | 8h | 85,287.6 | −0.101% | $927.6M | $773.8M | 125x | as long as short |
| BloFin BTC-USDT | −0.0029% | 8h | 85,298.9 | −0.088% | $421.2M | $682.6M | 150x | as long as short |
| Aster BTCUSDT | −0.0012% | 8h | 85,293.8 | −0.094% | $512.5M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,310 | −0.075% | $352K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,312.6 | −0.072% | $494K | $18.5M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,282.8 | −0.107% | $16.7M | $21.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,312.4 | −0.072% | $36.5M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0043% | 1h | 85,279.2 | −0.111% | $24.4M | $222.4M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,247 | −0.149% | $338K | $26.8M | 52x | as long as short |
| BingX BTC-USDC | +0.0070% | 8h | 85,279.4 | −0.111% | — | $17.4M | — | as long as short |
| ApeX Omni BTCUSDT | +0.0083% | 1h | 85,306.3 | −0.079% | $139.5M | $314.2M | 100x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,294.4 | −0.093% | $2.4M | $6.7M | 20x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,309.4 | −0.076% | $185.8M | $958.4M | 100x | as long as short |
| Bitget BTCUSDT | +0.0089% | 8h | 85,300.2 | −0.086% | $2.96B | $5.17B | 150x | as long as short |
| MEXC BTC_USDT | +0.0091% | 8h | 85,294.5 | −0.093% | $5.01B | $5.75B | 500x | as long as short |
| Binance BTCUSDT | +0.0091% | 8h | 85,302.2 | −0.084% | $9.42B | $24.96B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,310.7 | −0.074% | $170.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,312.4 | −0.072% | $23.5M | $148.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,292 | −0.096% | $8.4M | $56.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,270 | −0.122% | $236K | $8.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,304.8 | −0.081% | $5.14B | $9.98B | 150x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,340.4 | −0.039% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 85,374 | long leg | $3.74B | $5.08B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 85,313.1 | −0.071% | $40.2M | $604.4M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,312.4 | −0.072% | $2.59B | $12.24B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,263 | −0.130% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,291.5 | −0.097% | $5.1M | $99.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,306.4 | −0.079% | $5.49B | $11.00B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,257.5 | −0.136% | $36.9M | $178.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,207.8 | −0.195% | $154.6M | $557.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,254.4 | −0.140% | $279.3M | $950.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,296 | −0.091% | $214.2M | $166.1M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,260.2 | −0.133% | $30.0M | $203.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,351.9 | −0.026% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,298 | −0.089% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,298.8 | −0.088% | $202K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,305.5 | −0.080% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,345.5 | −0.033% | $193K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,214.5 | −0.187% | $29.9M | $47.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,279 | −0.111% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,302 | −0.084% | $59.7M | $336.8M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,273 | −0.118% | $2.26B | $967.5M | 200x | as long as short |
| Phemex BTCUSDTshort | +0.0100% | 8h | 85,311.7 | −0.073% | $151.6M | $509.7M | 150x | |
| Bulk BTC-USD | +0.0100% | 1h | 85,269.9 | −0.122% | $683.1M | $415.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,280.7 | −0.109% | $44.8M | $240.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,287.7 | −0.101% | — | $106.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,337.3 | −0.043% | $116.0M | $5.46B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0116% | 1h | 85,340.5 | −0.039% | $862.2M | $1.64B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0128% | 1h | 85,289.1 | −0.099% | $6.6M | $147.6M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0183% | 8h | 85,312 | −0.073% | $11.8M | $741.1M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,317.4 | −0.066% | $8.7M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0200% / S −0.0176% | 1h | 85,308.5 | −0.077% | $13.1M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,306.3 | −0.079% | $685K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0269% | 1h | 85,294.8 | −0.093% | $79K | $230K | 20x | as long as short |
Injective BTC/USDC PERP
BingX BTC-USDC
ApeX Omni BTCUSDT
Aevo BTC-PERP
Kraken Futures PF_XBTUSD
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Bybit BTCUSDT
Paradex BTC-USD-PERP
Pacifica BTC
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
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
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD