Funding you earn now, next payment 22:00 UTC−0.0374%/8h= −41.0% APRnext payment −$0.47 per $10,000 · paid last 24h −0.081%
Price spread now: Backpack against GMX−0.149%7-day average −0.019% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.342%−$34 on $10k
+Price spread, last 3 days (all we have)+0.133%+$13 · spread now −0.149%, 7d avg −0.019%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Backpack is 0.130% cheaper against GMX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.019%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX HBAR/USD [WBTC.b-USDC] | 0.09197 | L +0.0445% / S −0.0478% | pay 0.0056% / 1h | 8m 16s | $103K | — | 100x |
| Short | Backpack HBAR_USDC_PERP | 0.09183 | 0.0071 | get 0.0009% / 1h | 8m 16s | $31K | $103K | 15x |
GMX HBAR/USD [WBTC.b-USDC]
Backpack HBAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GMX. 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
- −$78.61
- Price spread: −0.149% → −0.019%
- −$12.96
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$113.57
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Backpack: live order book, 15 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 GMX no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 15 min ago | 0.54 bp | 7.8 bp −$8 | 508.5 bp −$5,085 | doesn't fit | doesn't fit |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Gate HBAR_USDT | −0.0026% | 8h | 0.09194 | −0.029% | $2.4M | $3.6M | 75x | as long as short |
| KuCoin HBARUSDTM | −0.0018% | 8h | 0.09192 | −0.051% | $7.3M | $7.9M | 75x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | 0.0000% | 1h | 0.09191 | −0.062% | $506K | $151K | 50x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09190 | −0.073% | $8K | — | 150x | as long as short |
| Variational Omni HBAR | +0.0047% | 8h | 0.09209 | +0.137% | $1.0M | $197K | — | as long as short |
| MEXC HBAR_USDT | +0.0068% | 8h | 0.09184 | −0.138% | $24.0M | $22.9M | 200x | as long as short |
| Binance HBARUSDT | +0.0069% | 8h | 0.09185 | −0.130% | $34.6M | $110.7M | 75x | as long as short |
| Backpack HBAR_USDC_PERPshort | +0.0071% | 1h | 0.09183 | −0.149% | $31K | $103K | 15x | |
| Extended HBAR-USD | +0.0072% | 1h | 0.09186 | −0.117% | $49K | $219K | 10x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0072% | 1h | 0.09211 | +0.155% | $227K | $2.2M | 50x | as long as short |
Gate HBAR_USDT
KuCoin HBARUSDTM
Deribit HBAR_USDC-PERPETUAL
gTrade (Gains Network) HBAR/USD
Variational Omni HBAR
MEXC HBAR_USDT
Binance HBARUSDT
Extended HBAR-USD
Coinbase International HBAR-PERP-INTXShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_HBAR_USDC | +0.0076% | 8h | 0.09184 | −0.138% | $2K | $18K | 10x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09186 | −0.116% | $564K | $590K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09206 | +0.105% | $8.8M | $2.9M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09189 | −0.082% | $210K | $429K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09184 | −0.138% | $32.8M | $37.0M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09179 | −0.192% | $6.8M | $24.6M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09193 | −0.040% | $16.9M | $14.8M | 75x | as long as short |
| BingX HBAR-USDT | +0.0100% | 8h | 0.09194 | −0.029% | — | $5.9M | — | as long as short |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09210 | +0.146% | $375K | $2.1M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09211 | +0.155% | $147K | $710K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09184 | −0.138% | $426 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09200 | +0.036% | $72K | $53K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09184 | −0.138% | $2.2M | $2.1M | 50x | as long as short |
| BloFin HBAR-USDT | +0.0189% | 8h | 0.09179 | −0.192% | $1.5M | $5.5M | 90x | as long as short |
| Injective HBAR/USDC PERP | +0.0311% | 1h | 0.09234 | +0.406% | $2K | $112K | 12x | as long as short |
| Kraken Futures PF_HBARUSD | +0.0384% | 1h | 0.09190 | −0.070% | $1.4M | $2.3M | 50x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC]long | L +0.0445% / S −0.0478% | 1h | 0.09197 | long leg | $103K | — | 100x | |
| dYdX HBAR-USD | +0.3916% | 1h | 0.09205 | +0.086% | $30K | $4K | 5x | as long as short |
Orderly PERP_HBAR_USDC
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDT
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
BloFin HBAR-USDT
Injective HBAR/USDC PERP
Kraken Futures PF_HBARUSD
dYdX HBAR-USD