Funding you earn now, next payment 02:00 UTC−0.0590%/8h= −64.6% APRnext payment −$0.74 per $10,000 · paid last 24h +0.009%
Price spread now: Hyperliquid against Deribit−0.164%7-day average — · 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)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Hyperliquid is 0.164% cheaper against Deribit than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit PYTH_USDC-PERPETUAL | 0.06387 | 0.0690 | pay 0.0086% / 1h | 29m 47s | $10K | $10K | 10x |
| Short | Hyperliquid PYTH | 0.06377 | 0.0100 | get 0.0013% / 1h | 29m 47s | $2.0M | $1.7M | 5x |
Deribit PYTH_USDC-PERPETUAL
Hyperliquid PYTHFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Deribit. 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
- −$123.96
- Price spread: −0.164% → 0.000%
- −$16.44
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$156.4
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 1 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 1 min ago | 1.72 bp | 17.1 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
Deribit: 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.
PYTH on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| Binance PYTHUSDT | −0.0094% | 4h | 0.06377 | −0.149% | $9.2M | $17.8M | 75x | as long as short |
| MEXC PYTH_USDT | −0.0092% | 4h | 0.06383 | −0.063% | $9.6M | $2.4M | 125x | as long as short |
| Coinbase International PYTH-PERP-INTX | −0.0064% | 1h | 0.06418 | +0.485% | $40K | $18K | 25x | as long as short |
| Aster PYTHUSDT | −0.0015% | 4h | 0.06380 | −0.105% | $20K | $46K | 10x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06375 | −0.187% | $189K | $19 | 5x | as long as short |
| Gate PYTH_USDT | +0.0008% | 4h | 0.06376 | −0.172% | $1.1M | $498K | 75x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.988% | $553 | $220K | 5.5x | as long as short |
| Aevo PYTH-PERP | +0.0056% | 1h | 0.06385 | −0.031% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06378 | −0.141% | $191K | $206K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06364 | −0.359% | $3K | — | 10x | as long as short |
Binance PYTHUSDT
MEXC PYTH_USDT
Coinbase International PYTH-PERP-INTX
Aster PYTHUSDT
dYdX PYTH-USD
Gate PYTH_USDT
Injective PYTH/USDC PERP
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PYTHshort | +0.0100% | 1h | 0.06377 | −0.164% | $2.0M | $1.7M | 5x | |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06377 | −0.157% | $7.6M | $4.9M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06378 | −0.141% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06389 | +0.031% | $1.5M | $339K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06378 | −0.141% | $2.7M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06377 | −0.157% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06368 | −0.305% | $38K | $27K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06377 | −0.160% | $3K | $2K | 10x | as long as short |
| Backpack PYTH_USDC_PERP | +0.0109% | 1h | 0.06394 | +0.113% | $39K | $93K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06375 | −0.191% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0375% | 1h | 0.06392 | +0.084% | $391K | $290K | 25x | as long as short |
| Deribit PYTH_USDC-PERPETUALlong | +0.0690% | 1h | 0.06387 | long leg | $10K | $10K | 10x |
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Backpack PYTH_USDC_PERP
Reya PYTHRUSDPERP
Kraken Futures PF_PYTHUSD