Funding you earn now, next payment 04:00 UTC−0.0544%/8h= −59.6% APRnext payment −$0.68 per $10,000 · paid last 24h −0.102%
Price spread now: Coinbase International against Hyperliquid+0.501%7-day average −0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$87as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$850.851% of the position
Funding, last 7 days−0.023%−$2 on $10k
+Price spread, last 4 days (all we have)−0.649%−$65 · spread now +0.501%, 7d avg −0.014%
=Together, before fees−0.672%+ Points / potential airdropHyperliquid: Season 2 · farm board−$67 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.515% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.501% now, against its 7-day average of −0.014%): +$51 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.023% in total) that is about 5 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.023% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.68 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid CFX | 0.05331 | 0.0752 | pay 0.0094% / 1h | 9m 37s | $3.2M | $358K | 5x |
| Short | Coinbase International CFX-PERP-INTX | 0.05358 | 0.0208 | get 0.0026% / 1h | 9m 37s | $41K | $121K | 50x |
Hyperliquid CFX
Coinbase International CFX-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
- −$114.32
- Price spread: +0.501% → −0.014%
- $51.46
- Slippage, 4 orders
- −$66.09
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$147.95
- Costs to cover
- 0.851%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 2 min ago; Coinbase International: live order book, 43 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, 2 min ago | 0.84 bp | 22.8 bp −$23 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 43 min ago | 10.26 bp | 15.3 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
CFX on 16 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster CFXUSDT | +0.0100% | 8h | 0.05319 | −0.223% | $5K | $42K | 5x | as long as short |
| Binance CFXUSDT | +0.0100% | 8h | 0.05318 | −0.247% | $5.3M | $9.9M | 75x | as long as short |
| Bybit CFXUSDT | +0.0100% | 8h | 0.05320 | −0.212% | $2.4M | $1.3M | 25x | as long as short |
| OKX CFX-USDT-SWAP | +0.0100% | 8h | 0.05311 | −0.381% | $2.5M | $5.5M | 20x | as long as short |
| Gate CFX_USDT | +0.0100% | 8h | 0.05318 | −0.249% | $1.1M | $2.5M | 50x | as long as short |
| MEXC CFX_USDT | +0.0100% | 8h | 0.05316 | −0.287% | $3.5M | $1.8M | 125x | as long as short |
| KuCoin CFXUSDTM | +0.0100% | 8h | 0.05320 | −0.212% | $802K | $302K | 75x | as long as short |
| Bitget CFXUSDT | +0.0100% | 8h | 0.05318 | −0.249% | $1.6M | $1.4M | 75x | as long as short |
| BingX CFX-USDT | +0.0100% | 8h | 0.05318 | −0.249% | — | $20.1M | — | as long as short |
| Variational Omni CFX | +0.0100% | 8h | 0.05326 | −0.109% | $37K | $50K | — | as long as short |
Aster CFXUSDT
Binance CFXUSDT
Bybit CFXUSDT
OKX CFX-USDT-SWAP
Gate CFX_USDT
MEXC CFX_USDT
KuCoin CFXUSDTM
Bitget CFXUSDT
BingX CFX-USDT
Variational Omni CFXShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT CFX_USDT_Perp | +0.0100% | 8h | 0.05336 | +0.080% | $506K | $1.6M | 10x | as long as short |
| Extended CFX-USD | +0.0104% | 1h | 0.05316 | −0.281% | $2K | $261K | 10x | as long as short |
| Coinbase International CFX-PERP-INTXshort | +0.0208% | 1h | 0.05358 | +0.501% | $41K | $121K | 50x | |
| Kraken Futures PF_CFXUSD | +0.0580% | 1h | 0.05320 | −0.203% | $32K | $11K | 20x | as long as short |
| Hyperliquid CFXlong | +0.0752% | 1h | 0.05331 | long leg | $3.2M | $358K | 5x | |
| Deribit CFX_USDC-PERPETUAL | +0.2383% | 1h | 0.05332 | +0.013% | $141 | $29 | 10x | as long as short |
GRVT CFX_USDT_Perp
Extended CFX-USD
Kraken Futures PF_CFXUSD
Deribit CFX_USDC-PERPETUAL