Funding you earn now, next payment 00:00 UTC−0.0354%/8h= −38.7% APRnext payment −$0.44 per $10,000 · paid last 24h −0.041%
Price spread now: Backpack against Hyperliquid+0.134%7-day average +0.433% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$300.301% of the position
Funding, last 7 days−0.167%−$17 on $10k
+Price spread, last 7 days−0.726%−$73 · spread now +0.134%, 7d avg +0.433%
=Together, before fees−0.893%+ Points / potential airdropHyperliquid: Season 2 · farm board−$89 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Backpack is 0.299% cheaper against Hyperliquid than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of +0.433%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.167% in total (about -8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.44 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 UNI | 8.9613 | 0.0454 | pay 0.0057% / 1h | 7m 36s | $98.0M | $59.6M | 10x |
| Short | Backpack UNI_USDC_PERP | 8.9733 | 0.0100 | get 0.0013% / 1h | 7m 36s | $1.1M | $2.4M | 10x |
Hyperliquid UNI
Backpack UNI_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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
- −$74.3
- Price spread: +0.134% → +0.433%
- −$29.94
- Slippage, 4 orders
- −$11.1
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$134.35
- Costs to cover
- 0.301%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 6 min ago; Backpack: live order book, 1 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, 6 min ago | 0.61 bp | 7.1 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 1 min ago | 0.06 bp | 8.5 bp −$9 | 146.4 bp −$1,464 | doesn't fit | doesn't fit |
UNI on 40 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective UNI/USDC PERP | −0.0049% | 1h | 8.8300 | −1.465% | $660 | $155K | 12x | as long as short |
| gTrade (Gains Network) UNI/USD | L +0.0004% / S −0.0004% | 1h | 8.9725 | +0.125% | $62K | — | 150x | as long as short |
| Variational Omni UNI | +0.0082% | 8h | 8.9422 | −0.213% | $4.1M | $4.4M | — | as long as short |
| OKX UNI-USDT-SWAP | +0.0087% | 8h | 8.9450 | −0.182% | $54.7M | $248.6M | 50x | as long as short |
| Nado UNI-PERP | +0.0100% | 1h | 8.9605 | −0.009% | $956K | $4.2M | 10x | as long as short |
| Aster UNIUSDT | +0.0100% | 8h | 8.9585 | −0.031% | $1.0M | $3.3M | 50x | as long as short |
| Pacifica UNI | +0.0100% | 1h | 8.9530 | −0.093% | $296K | $591K | 10x | as long as short |
| Binance UNIUSDT | +0.0100% | 8h | 8.9440 | −0.193% | $221.4M | $591.2M | 75x | as long as short |
| Bybit UNIUSDT | +0.0100% | 8h | 8.9470 | −0.160% | $101.2M | $105.3M | 75x | as long as short |
| Arcus UNI-USD | +0.0100% | 1h | 8.9580 | −0.037% | $269K | $614K | 10x | as long as short |
Injective UNI/USDC PERP
gTrade (Gains Network) UNI/USD
Variational Omni UNI
OKX UNI-USDT-SWAP
Nado UNI-PERP
Aster UNIUSDT
Pacifica UNI
Binance UNIUSDT
Bybit UNIUSDT
Arcus UNI-USDShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate UNI_USDT | +0.0100% | 8h | 8.9500 | −0.126% | $22.8M | $59.2M | 75x | as long as short |
| MEXC UNI_USDT | +0.0100% | 8h | 8.9510 | −0.115% | $43.8M | $24.1M | 200x | as long as short |
| KuCoin UNIUSDTM | +0.0100% | 8h | 8.9530 | −0.093% | $13.7M | $13.5M | 75x | as long as short |
| Bitget UNIUSDT | +0.0100% | 8h | 8.9450 | −0.182% | $32.7M | $42.0M | 75x | as long as short |
| BingX UNI-USDC | +0.0100% | 8h | 8.9470 | −0.160% | — | $6.5M | — | as long as short |
| Backpack UNI_USDC_PERPshort | +0.0100% | 1h | 8.9733 | +0.134% | $1.1M | $2.4M | 10x | |
| edgeX UNIUSDC | +0.0100% | 4h | 8.9644 | +0.034% | $169K | $343K | 20x | as long as short |
| GRVT UNI_USDT_Perp | +0.0100% | 8h | 8.9730 | +0.131% | $624K | $2.5M | 10x | as long as short |
| ApeX Omni UNIUSDT | +0.0100% | 1h | 8.9680 | +0.075% | $88K | $710K | 50x | as long as short |
| StandX UNI-USD | +0.0100% | 1h | 8.9690 | +0.086% | $36K | $3.3M | 20x | as long as short |
| Polymarket Perps UNI-USD | +0.0100% | 1h | 8.9733 | +0.134% | $85K | $366K | 10x | as long as short |
| Orderly PERP_UNI_USDC | +0.0100% | 8h | 8.9710 | +0.108% | $16K | $1.7M | 10x | as long as short |
| SunX UNI-USDT | +0.0100% | 8h | 8.9789 | +0.196% | $36K | $1.3M | 30x | as long as short |
| SoDEX UNI-USD | +0.0100% | 1h | 8.9716 | +0.115% | $21K | $676K | 10x | as long as short |
| HTX UNI-USDT | +0.0100% | 8h | 8.9757 | +0.161% | $718K | $4.3M | 75x | as long as short |
| Phemex UNIUSDT | +0.0100% | 8h | 8.9690 | +0.086% | $27.1M | $4.5M | 50x | as long as short |
| Paradex UNI-USD-PERP | +0.0100% | 8h | 8.9457 | −0.174% | $26K | — | 20x | as long as short |
| Extended UNI-USD | +0.0104% | 1h | 8.9420 | −0.215% | $302K | $1.5M | 25x | as long as short |
| Aevo UNI-PERP | +0.0104% | 1h | 8.9716 | +0.115% | $32K | $1K | 3x | as long as short |
| 01 Exchange UNIUSD | +0.0168% | 1h | 8.9453 | −0.179% | $446 | — | 10x | as long as short |
| Deribit UNI_USDC-PERPETUAL | +0.0198% | 1h | 8.9761 | +0.165% | $578K | $177K | 50x | as long as short |
| BloFin UNI-USDT | +0.0220% | 8h | 8.9670 | +0.064% | $10.0M | $3.5M | 75x | as long as short |
| Coinbase International UNI-PERP-INTX | +0.0232% | 1h | 8.9690 | +0.086% | $1.1M | $5.4M | 50x | as long as short |
| dYdX UNI-USD | +0.0300% | 1h | 8.9536 | −0.086% | $248K | $6K | 10x | as long as short |
| Reya UNIRUSDPERP | +0.0365% | 1h | 8.9664 | +0.057% | $16K | — | 20x | as long as short |
| GMX UNI/USD [UNI-USDC] | L +0.0381% / S −0.0323% | 1h | 8.9715 | +0.114% | $567K | — | 120x | as long as short |
| Hyperliquid UNIlong | +0.0454% | 1h | 8.9613 | long leg | $98.0M | $59.6M | 10x | |
| Kraken Futures PF_UNIUSD | +0.0564% | 1h | 8.9772 | +0.177% | $5.0M | $7.0M | 50x | as long as short |
| Aftermath Perps UNIUSD | +0.0866% | 1h | 8.9817 | +0.228% | $1K | $49K | 10x | as long as short |
| Lighter UNI | +0.0912% | 1h | 8.9705 | +0.103% | $4.6M | $5.3M | 15x | as long as short |
Gate UNI_USDT
MEXC UNI_USDT
KuCoin UNIUSDTM
Bitget UNIUSDT
BingX UNI-USDC
edgeX UNIUSDC
GRVT UNI_USDT_Perp
ApeX Omni UNIUSDT
StandX UNI-USD
Polymarket Perps UNI-USD
Orderly PERP_UNI_USDC
SunX UNI-USDT
SoDEX UNI-USD
HTX UNI-USDT
Phemex UNIUSDT
Paradex UNI-USD-PERP
Extended UNI-USD
Aevo UNI-PERP
01 Exchange UNIUSD
Deribit UNI_USDC-PERPETUAL
BloFin UNI-USDT
Coinbase International UNI-PERP-INTX
dYdX UNI-USD
Reya UNIRUSDPERP
GMX UNI/USD [UNI-USDC]
Kraken Futures PF_UNIUSD
Aftermath Perps UNIUSD
Lighter UNI