Funding you earn now, next payment 04:00 UTC−0.0340%/8h= −37.2% APRnext payment −$0.43 per $10,000 · paid last 24h −0.035%
Price spread now: Hyperliquid against Coinbase International−0.619%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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 −$10 a day on $10k at the current rate, and Hyperliquid is 0.619% cheaper against Coinbase International than usual: you would sell low and buy high (−$62 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 | Coinbase International W-PERP-INTX | 0.01195 | 0.0440 | pay 0.0055% / 1h | 57m 21s | $14K | $15K | 50x |
| Short | Hyperliquid W | 0.01188 | 0.0100 | get 0.0013% / 1h | 57m 21s | $2.0M | $332K | 5x |
Coinbase International W-PERP-INTX
Hyperliquid WFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Coinbase International. 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
- −$71.4
- Price spread: −0.619% → 0.000%
- −$61.9
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$152.3
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: no order-book sample; Hyperliquid: live order book, 3 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 Coinbase International no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 3 min ago | 4.20 bp | 27.6 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
Coinbase International: 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.
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0424% | 1h | 0.01187 | −0.711% | $15K | $3K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +1.138% | $1K | $1K | 12x | as long as short |
| Hyperliquid Wshort | +0.0100% | 1h | 0.01188 | −0.619% | $2.0M | $332K | 5x | |
| Binance WUSDT | +0.0100% | 4h | 0.01189 | −0.548% | $3.0M | $6.3M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01187 | −0.686% | $4.2M | $1.8M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01187 | −0.719% | $1.3M | $1.8M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01189 | −0.535% | $450K | $210K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01189 | −0.527% | $12.9M | $1.3M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01187 | −0.703% | $376K | $210K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01188 | −0.619% | $1.3M | $567K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Binance WUSDT
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01188 | −0.619% | — | $6.8M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01188 | −0.641% | $72K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01188 | −0.621% | $128K | $402K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01188 | −0.619% | $62K | $230K | 5x | as long as short |
| Coinbase International W-PERP-INTXlong | +0.0440% | 1h | 0.01195 | long leg | $14K | $15K | 50x | |
| Backpack W_USDC_PERP | +0.1591% | 1h | 0.01191 | −0.368% | $44K | $43K | 15x | as long as short |
| Kraken Futures PF_WUSD | +0.1758% | 1h | 0.01191 | −0.393% | $147K | $184K | 20x | as long as short |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Backpack W_USDC_PERP
Kraken Futures PF_WUSD