Funding you earn now, next payment 07:00 UTC+0.0762%/8h= +83.5% APRnext payment +$0.95 per $10,000 · paid last 24h +0.030%
Price spread now: Hyperliquid against Backpack+0.036%7-day average +0.086% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.248%+$25 on $10k
+Price spread, last 4 days (all we have)+0.095%+$10 · spread now +0.036%, 7d avg +0.086%
=Together, before fees+0.343%+ Points / potential airdropHyperliquid: Season 2 · farm board+$34 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.051% cheaper against Backpack than usual: you would sell low and buy high (spread +0.036% now, against its 7-day average of +0.086%). If the spread goes back, that is −$5 on $10k: about 5 hours of funding at the current rate (+$23 a day). At the pace of the last 7 days (+0.248% in total) that is about 34 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.248% in total (about 12.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.95 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 | Backpack HBAR_USDC_PERP | 0.09255 | −0.0662 | get 0.0083% / 1h | 37m 11s | $33K | $201K | 15x |
| Short | Hyperliquid HBAR | 0.09258 | 0.0100 | get 0.0013% / 1h | 37m 11s | $8.6M | $3.7M | 5x |
Backpack HBAR_USDC_PERP
Hyperliquid HBARFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Backpack. 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
- $160.1
- Price spread: +0.036% → +0.086%
- −$5.06
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $136.04
- Costs to cover
- 0.190%
- Break-even
- 1.1 days
Slippage unknown: Backpack: live order book, 6 min ago; Hyperliquid: live order book, 5 min ago. Net counts fees only.
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 Backpack live order book, 6 min ago | 0.54 bp | 9.3 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 0.54 bp | 10.3 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
HBAR on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack HBAR_USDC_PERPlong | −0.0662% | 1h | 0.09255 | long leg | $33K | $201K | 15x | |
| Kraken Futures PF_HBARUSD | −0.0267% | 1h | 0.09267 | +0.132% | $1.3M | $3.0M | 50x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09255 | +0.002% | $30K | $4K | 5x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0011% | 1h | 0.09258 | +0.030% | $9K | — | 150x | as long as short |
| Injective HBAR/USDC PERP | +0.0033% | 1h | 0.09282 | +0.292% | $1K | $103K | 12x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0077% | 8h | 0.09259 | +0.043% | $4K | $16K | 10x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0080% | 1h | 0.09265 | +0.108% | $211K | $2.3M | 50x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09257 | +0.022% | $558K | $600K | 5x | as long as short |
| Gate HBAR_USDT | +0.0099% | 8h | 0.09252 | −0.032% | $2.4M | $2.7M | 75x | as long as short |
| Hyperliquid HBARshort | +0.0100% | 1h | 0.09258 | +0.036% | $8.6M | $3.7M | 5x |
Kraken Futures PF_HBARUSD
dYdX HBAR-USD
gTrade (Gains Network) HBAR/USD
Injective HBAR/USDC PERP
Orderly PERP_HBAR_USDC
Coinbase International HBAR-PERP-INTX
Lighter HBAR
Gate HBAR_USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster HBARUSDT | +0.0100% | 8h | 0.09265 | +0.111% | $199K | $333K | 50x | as long as short |
| Binance HBARUSDT | +0.0100% | 8h | 0.09255 | +0.003% | $34.1M | $111.8M | 75x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09252 | −0.032% | $31.7M | $35.9M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09248 | −0.076% | $6.5M | $25.1M | 50x | as long as short |
| MEXC HBAR_USDT | +0.0100% | 8h | 0.09254 | −0.011% | $24.8M | $19.7M | 200x | as long as short |
| KuCoin HBARUSDTM | +0.0100% | 8h | 0.09263 | +0.086% | $7.4M | $7.5M | 75x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09253 | −0.022% | $17.2M | $16.0M | 75x | as long as short |
| BingX HBAR-USDT | +0.0100% | 8h | 0.09250 | −0.054% | — | $6.9M | — | as long as short |
| Variational Omni HBAR | +0.0100% | 8h | 0.09269 | +0.150% | $1.0M | $187K | — | as long as short |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09269 | +0.151% | $373K | $3.0M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09273 | +0.194% | $151K | $705K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09262 | +0.076% | $430 | $5K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09267 | +0.130% | $70K | $70K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09260 | +0.054% | $2.1M | $2.1M | 50x | as long as short |
| Extended HBAR-USD | +0.0104% | 1h | 0.09258 | +0.033% | $60K | $225K | 10x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | +0.0182% | 1h | 0.09269 | +0.151% | $510K | $178K | 50x | as long as short |
| BloFin HBAR-USDT | +0.0220% | 8h | 0.09252 | −0.032% | $1.5M | $5.6M | 90x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0359% / S −0.0261% | 1h | 0.09265 | +0.103% | $83K | — | 100x | as long as short |
Aster HBARUSDT
Binance HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
MEXC HBAR_USDT
KuCoin HBARUSDTM
Bitget HBARUSDT
BingX HBAR-USDT
Variational Omni HBAR
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
Extended HBAR-USD
Deribit HBAR_USDC-PERPETUAL
BloFin HBAR-USDT
GMX HBAR/USD [WBTC.b-USDC]