Funding you earn now, next payment 09:00 UTC+0.0446%/8h= +48.8% APRnext payment +$0.56 per $10,000 · paid last 24h +0.003%
Price spread now: Extended against Hyperliquid−0.048%7-day average −0.121% · you buy dearer than you sell
Net, funding: paid 7d − costs−$89as in the Funding arb table
Net, price: spread back to 7d avg − costs−$98as in the Price arb table
costs, in and out, $10k−$1061.056% of the position
Funding, last 7 days+0.161%+$16 on $10k
+Price spread, last 7 days−0.085%−$9 · spread now −0.048%, 7d avg −0.121%
=Together, before fees+0.076%+ Points / potential airdropHyperliquid: Season 2 · Extended: Active · farm board+$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Extended is 0.073% dearer against Hyperliquid than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.121%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.161% in total (about 8.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.56 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 S | 0.04356 | −0.0342 | get 0.0043% / 1h | 58m 25s | $1.1M | $660K | 5x |
| Short | Extended S-USD | 0.04354 | 0.0104 | get 0.0013% / 1h | 58m 25s | $242K | $1.3M | 10x |
Hyperliquid S
Extended S-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $93.64
- Price spread: −0.048% → −0.121%
- $7.27
- Slippage, 4 orders
- −$91.55
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$4.65
- Costs to cover
- 1.056%
- Break-even
- 7.3 days
Slippage from Hyperliquid: live order book, 2 min ago; Extended: live order book, 5 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 | 4.19 bp | 21.7 bp −$22 | doesn't fit | doesn't fit | doesn't fit |
| Sell Extended live order book, 5 min ago | 5.70 bp | 33.2 bp −$33 | 248.7 bp −$2,487 | doesn't fit | doesn't fit |
S on 25 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SUSD | −0.2605% | 1h | 0.04355 | −0.015% | $36K | $23K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1248% | 1h | 0.04360 | +0.092% | $53K | $18K | 25x | as long as short |
| Hyperliquid Slong | −0.0342% | 1h | 0.04356 | long leg | $1.1M | $660K | 5x | |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.04364 | +0.179% | $2K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.04353 | −0.077% | $4 | — | 15x | as long as short |
| Variational Omni S | −0.0079% | 4h | 0.04433 | +1.777% | $684K | $7K | — | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.04361 | +0.108% | $672 | — | 150x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | −5.877% | $2K | $37K | 12x | as long as short |
| Orderly PERP_S_USDC | +0.0083% | 4h | 0.04355 | −0.023% | $108K | $612K | 10x | as long as short |
| Lighter S | +0.0096% | 1h | 0.04356 | 0.000% | $187K | $98K | 5x | as long as short |
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
Variational Omni S
gTrade (Gains Network) S/USD
Injective S/USDC PERP
Orderly PERP_S_USDC
Lighter SShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster SUSDT | +0.0100% | 4h | 0.04363 | +0.155% | $47K | $173K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.04353 | −0.069% | $6.4M | $16.1M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.04345 | −0.253% | $6.3M | $4.6M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.04346 | −0.230% | $1.2M | $4.7M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.04354 | −0.046% | $349K | $197K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.04354 | −0.046% | $4.6M | $2.1M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.04353 | −0.069% | $2.0M | $2.8M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04347 | −0.207% | $1.3M | $2.6M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.04359 | +0.069% | — | $6.9M | — | as long as short |
| Backpack S_USDC_PERP | +0.0100% | 1h | 0.04350 | −0.138% | $102K | $469K | 5x | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.04390 | +0.781% | $26K | $505K | 50x | as long as short |
| Extended S-USDshort | +0.0104% | 1h | 0.04354 | −0.048% | $242K | $1.3M | 10x | |
| BloFin S-USDT | +0.0340% | 4h | 0.04368 | +0.275% | $304K | $121K | 75x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.1580% | 1h | 0.04379 | +0.528% | $74K | $10K | 10x | as long as short |
| 01 Exchange SUSD | +0.6576% | 1h | 0.04440 | +1.928% | $27K | $2K | 5x | as long as short |
Aster SUSDT
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
Backpack S_USDC_PERP
ApeX Omni SUSDT
BloFin S-USDT
Deribit S_USDC-PERPETUAL
01 Exchange SUSD