Funding you earn now, next payment 07:00 UTC+0.0420%/8h= +46.0% APRnext payment +$0.53 per $10,000 · paid last 24h +0.088%
Price spread now: Deribit against Hyperliquid−0.094%7-day average −0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$280.283% of the position
Funding, last 7 days+0.185%+$18 on $10k
+Price spread, last 4 days (all we have)−0.024%−$2 · spread now −0.094%, 7d avg −0.014%
=Together, before fees+0.160%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 on $10k · with fees, hour by hour
Funding pays, the price is against you. Deribit is 0.081% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.094% now, against its 7-day average of −0.014%). If the spread goes back, that is −$8 on $10k: about 15 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.185% in total) that is about 3.1 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.185% in total (about 9.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.53 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 XLM | 0.2123 | 0.0321 | pay 0.0040% / 1h | 3m 37s | $12.1M | $6.5M | 5x |
| Short | Deribit XLM_USDC-PERPETUAL | 0.2121 | 0.0741 | get 0.0093% / 1h | 3m 37s | $526K | $172K | 25x |
Hyperliquid XLM
Deribit XLM_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $88.26
- Price spread: −0.094% → −0.014%
- −$8.07
- Slippage, 4 orders
- −$12.26
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $51.93
- Costs to cover
- 0.283%
- Break-even
- 2.9 days
Slippage from Hyperliquid: live order book, 9 min ago; Deribit: live order book, 40 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 | 0.23 bp | 8.3 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 40 min ago | 2.59 bp | 6.1 bp −$6 | 14.4 bp −$144 | doesn't fit | doesn't fit |
XLM on 31 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) XLM/USD | L 0.0000% / S +0.0002% | 1h | 0.2118 | −0.199% | $4K | — | 150x | as long as short |
| Injective XLM/USDC PERP | +0.0033% | 1h | 0.2125 | +0.113% | $683 | $241K | 12x | as long as short |
| Lighter XLM | +0.0096% | 1h | 0.2123 | +0.009% | $366K | $947K | 5x | as long as short |
| Aster XLMUSDT | +0.0100% | 8h | 0.2122 | −0.029% | $563K | $615K | 75x | as long as short |
| Binance XLMUSDT | +0.0100% | 8h | 0.2121 | −0.061% | $54.4M | $162.4M | 75x | as long as short |
| Bybit XLMUSDT | +0.0100% | 8h | 0.2119 | −0.170% | $43.0M | $47.3M | 75x | as long as short |
| OKX XLM-USDT-SWAP | +0.0100% | 8h | 0.2120 | −0.108% | $12.2M | $44.3M | 50x | as long as short |
| Gate XLM_USDT | +0.0100% | 8h | 0.2120 | −0.141% | $4.0M | $7.8M | 75x | as long as short |
| MEXC XLM_USDT | +0.0100% | 8h | 0.2121 | −0.071% | $24.7M | $29.3M | 300x | as long as short |
| KuCoin XLMUSDTM | +0.0100% | 8h | 0.2120 | −0.099% | $14.0M | $9.4M | 75x | as long as short |
gTrade (Gains Network) XLM/USD
Injective XLM/USDC PERP
Lighter XLM
Aster XLMUSDT
Binance XLMUSDT
Bybit XLMUSDT
OKX XLM-USDT-SWAP
Gate XLM_USDT
MEXC XLM_USDT
KuCoin XLMUSDTMShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget XLMUSDT | +0.0100% | 8h | 0.2120 | −0.122% | $25.4M | $22.8M | 75x | as long as short |
| BingX XLM-USDT | +0.0100% | 8h | 0.2120 | −0.108% | — | $7.3M | — | as long as short |
| Variational Omni XLM | +0.0100% | 8h | 0.2123 | +0.025% | $254K | $1.3M | — | as long as short |
| edgeX XLMUSDC | +0.0100% | 4h | 0.2123 | +0.040% | $12K | $308K | 10x | as long as short |
| GRVT XLM_USDT_Perp | +0.0100% | 8h | 0.2123 | +0.014% | $595K | $585K | 10x | as long as short |
| ApeX Omni XLMUSDT | +0.0100% | 1h | 0.2122 | −0.009% | $170K | $264K | 50x | as long as short |
| Orderly PERP_XLM_USDC_mythos | +0.0100% | 4h | 0.2120 | −0.122% | $3K | $2K | 10x | as long as short |
| SunX XLM-USDT | +0.0100% | 8h | 0.2120 | −0.118% | $2K | $1.6M | 20x | as long as short |
| SoDEX XLM-USD | +0.0100% | 1h | 0.2119 | −0.155% | $577 | $6K | 5x | as long as short |
| HTX XLM-USDT | +0.0100% | 8h | 0.2120 | −0.118% | $195K | $249K | 20x | as long as short |
| Phemex XLMUSDT | +0.0100% | 8h | 0.2121 | −0.090% | $8.7M | $9.1M | 50x | as long as short |
| Extended XLM-USD | +0.0104% | 1h | 0.2120 | −0.113% | $189K | $1.5M | 10x | as long as short |
| Backpack XLM_USDC_PERP | +0.0208% | 1h | 0.2120 | −0.127% | $130K | $348K | 20x | as long as short |
| BloFin XLM-USDT | +0.0220% | 8h | 0.2123 | +0.038% | $2.3M | $5.5M | 75x | as long as short |
| Phoenix XLM | +0.0263% | 1h | 0.2124 | +0.057% | $4K | $50K | 5x | as long as short |
| dYdX XLM-USD | +0.0306% | 1h | 0.2119 | −0.185% | $23K | $2K | 10x | as long as short |
| Hyperliquid XLMlong | +0.0321% | 1h | 0.2123 | long leg | $12.1M | $6.5M | 5x | |
| Kraken Futures PF_XLMUSD | +0.0333% | 1h | 0.2120 | −0.100% | $2.6M | $2.7M | 50x | as long as short |
| Coinbase International XLM-PERP-INTX | +0.0408% | 1h | 0.2127 | +0.217% | $222K | $1.7M | 50x | as long as short |
| GMX XLM/USD [WBTC.b-USDC] | L +0.0517% / S −0.0247% | 1h | 0.2119 | −0.189% | $39K | — | 100x | as long as short |
| Deribit XLM_USDC-PERPETUALshort | +0.0741% | 1h | 0.2121 | −0.094% | $526K | $172K | 25x |
Bitget XLMUSDT
BingX XLM-USDT
Variational Omni XLM
edgeX XLMUSDC
GRVT XLM_USDT_Perp
ApeX Omni XLMUSDT
Orderly PERP_XLM_USDC_mythos
SunX XLM-USDT
SoDEX XLM-USD
HTX XLM-USDT
Phemex XLMUSDT
Extended XLM-USD
Backpack XLM_USDC_PERP
BloFin XLM-USDT
Phoenix XLM
dYdX XLM-USD
Kraken Futures PF_XLMUSD
Coinbase International XLM-PERP-INTX
GMX XLM/USD [WBTC.b-USDC]