Funding you earn now, next payment 08:00 UTC−0.1557%/8h= −170.5% APRpaid last 24h −0.457%
Price spread now: Binance against Hyperliquid−0.392%7-day average −0.210% · you buy dearer than you sell
Net, funding: paid 7d − costs−$164as in the Funding arb table
Net, price: spread back to 7d avg − costs−$118as in the Price arb table
costs, in and out, $10k−$1001.000% of the position
Funding, last 7 days−0.639%−$64 on $10k
+Price spread, last 7 days+0.216%+$22 · spread now −0.392%, 7d avg −0.210%
=Together, before fees−0.424%+ Points / potential airdropHyperliquid: Season 2 · farm board−$42 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$47 a day on $10k at the current rate, and Binance is 0.182% cheaper against Hyperliquid than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.210%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.639% in total (about -33.3% a year). A funding rate is set anew for every payment. 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 NIL | 0.07680 | 0.1657 | pay 0.0207% / 1h | 43m 08s | $5.0M | $4.6M | 3x |
| Short | Binance NILUSDT | 0.07650 | 0.0100 | get 0.0050% / 4h | 43m 08s | $5.9M | $54.1M | 50x |
Hyperliquid NIL
Binance NILUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$327.06
- Price spread: −0.392% → −0.210%
- −$18.25
- Slippage, 4 orders
- −$80.99
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$445.3
- Costs to cover
- 1.000%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Binance: live order book, 14 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, 9 min ago | 5.71 bp | 30.8 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 14 min ago | 2.64 bp | 25.5 bp −$25 | 134.1 bp −$1,341 | doesn't fit | doesn't fit |
NIL on 12 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin NIL-USDT | +0.0093% | 4h | 0.07724 | +0.573% | $384K | $100K | 50x | as long as short |
| Aster NILUSDT | +0.0100% | 4h | 0.07667 | −0.174% | $33K | $292K | 5x | as long as short |
| Binance NILUSDTshort | +0.0100% | 4h | 0.07650 | −0.392% | $5.9M | $54.1M | 50x | |
| Bybit NILUSDT | +0.0100% | 4h | 0.07641 | −0.508% | $4.2M | $10.7M | 20x | as long as short |
| MEXC NIL_USDT | +0.0100% | 4h | 0.07671 | −0.117% | $2.5M | $3.3M | 100x | as long as short |
| Bitget NILUSDT | +0.0100% | 4h | 0.07670 | −0.130% | $2.1M | $6.5M | 50x | as long as short |
| BingX NIL-USDT | +0.0100% | 4h | 0.07665 | −0.195% | — | $8.1M | — | as long as short |
| Variational Omni NIL | +0.0100% | 4h | 0.07687 | +0.091% | $190K | $249K | — | as long as short |
| Extended NIL-USD | +0.0104% | 1h | 0.07680 | 0.000% | $23K | $189K | 5x | as long as short |
| Gate NIL_USDT | +0.0158% | 4h | 0.07664 | −0.208% | $493K | $1.4M | 50x | as long as short |
BloFin NIL-USDT
Aster NILUSDT
Bybit NILUSDT
MEXC NIL_USDT
Bitget NILUSDT
BingX NIL-USDT
Variational Omni NIL
Extended NIL-USD
Gate NIL_USDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin NILUSDTM | +0.0158% | 4h | 0.07669 | −0.143% | $584K | $554K | 30x | as long as short |
| Hyperliquid NILlong | +0.1657% | 1h | 0.07680 | long leg | $5.0M | $4.6M | 3x |
KuCoin NILUSDTM