Funding you earn now, next payment 06:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.049%
Price spread now: Hyperliquid against gTrade (Gains Network)+0.096%7-day average +0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$170.171% of the position
Funding, last 3 days (all we have)+0.117%+$12 on $10k
+Price spread, last 7 days−0.096%−$10 · spread now +0.096%, 7d avg +0.048%
=Together, before fees+0.021%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.048% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.048%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) BTC/USD | 85,455.7 | L +0.0004% / S −0.0004% | pay 0.0001% / 1h | 14m 02s | $36.5M | — | 200x |
| Short | Hyperliquid BTC | 85,538 | 0.0100 | get 0.0013% / 1h | 14m 02s | $3.76B | $5.07B | 40x |
gTrade (Gains Network) BTC/USD
Hyperliquid BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against gTrade (Gains Network). 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
- $20.06
- Price spread: +0.096% → +0.048%
- $4.79
- Slippage, 4 orders
- −$1.15
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $7.71
- Costs to cover
- 0.171%
- Break-even
- 4.3 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 5 min ago; Hyperliquid: live order book, 10 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 gTrade (Gains Network) virtual book (oracle venue), 5 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$446 | 6.4 bp −$3,181 |
| Sell Hyperliquid live order book, 10 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 4.7 bp −$467 | 5.6 bp −$2,805 |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0112% | 43m | 85,452 | −0.004% | $526K | $18.3M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,391 | −0.076% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,411 | −0.052% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0053% | 8h | 85,448.4 | −0.009% | $923.5M | $765.5M | 125x | as long as short |
| BloFin BTC-USDT | −0.0029% | 8h | 85,388.6 | −0.079% | $419.8M | $682.0M | 150x | as long as short |
| Aster BTCUSDT | −0.0011% | 8h | 85,450 | −0.007% | $513.4M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,454.4 | −0.002% | $355K | $2.4M | 50x | as long as short |
| dYdX BTC-USD | +0.0002% | 1h | 85,386.9 | −0.081% | $16.7M | $21.4M | 50x | as long as short |
| gTrade (Gains Network) BTC/USDlong | L +0.0004% / S −0.0004% | 1h | 85,455.7 | long leg | $36.5M | — | 200x | |
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,349 | −0.125% | $339K | $26.8M | 52x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
dYdX BTC-USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0041% | 1h | 85,393.5 | −0.073% | $24.8M | $222.6M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,481.8 | +0.031% | $187.6M | $955.1M | 100x | as long as short |
| BingX BTC-USDT | +0.0069% | 8h | 85,458.4 | +0.003% | — | $1.56B | — | as long as short |
| Phemex BTCUSDT | +0.0075% | 8h | 85,455.2 | −0.001% | $148.0M | $505.5M | 150x | as long as short |
| Bitget BTCUSDT | +0.0086% | 8h | 85,464 | +0.010% | $2.96B | $5.17B | 150x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,451.3 | −0.005% | $2.4M | $6.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0090% | 8h | 85,475.1 | +0.023% | $5.03B | $5.75B | 500x | as long as short |
| Binance BTCUSDT | +0.0091% | 8h | 85,469.5 | +0.016% | $9.45B | $24.87B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,469.9 | +0.017% | $171.1M | $1.03B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,475 | +0.023% | $23.7M | $148.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,440 | −0.018% | $8.4M | $55.8M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,497.2 | +0.049% | $117.2M | $5.42B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,407 | −0.057% | $239K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,471.4 | +0.018% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTCshort | +0.0100% | 1h | 85,538 | +0.096% | $3.76B | $5.07B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 85,429.6 | −0.031% | $40.0M | $597.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,458.6 | +0.003% | $5.15B | $9.95B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,475.8 | +0.024% | $2.59B | $12.22B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,407 | −0.057% | $3.8M | $17.5M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,433.1 | −0.026% | $4.6M | $98.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,163.7 | −0.342% | $678.5M | $565.0M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,453.1 | −0.003% | $5.50B | $11.04B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,454.3 | −0.002% | $36.4M | $176.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,365.9 | −0.105% | $154.5M | $559.9M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,351.5 | −0.122% | $279.6M | $950.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,345.8 | −0.129% | $214.4M | $167.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,371.5 | −0.098% | $139.6M | $314.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,379.9 | −0.089% | $30.1M | $207.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,491.1 | +0.041% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,432 | −0.028% | $11.0M | $14.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,454 | −0.002% | $205K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,458.9 | +0.004% | $2.6M | $9.6M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,511 | +0.065% | $228K | $760K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,433.2 | −0.026% | $30.0M | $48.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,387.5 | −0.080% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,460 | +0.005% | $59.8M | $336.2M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,442.1 | −0.016% | $2.26B | $941.7M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,436.7 | −0.022% | $44.4M | $240.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,458.9 | +0.004% | — | $106.9M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0118% | 1h | 85,431.2 | −0.029% | $6.6M | $147.5M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,450.2 | −0.006% | $13.0M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0193% | 1h | 85,503.4 | +0.056% | $866.9M | $1.61B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0198% | 8h | 85,430 | −0.030% | $11.6M | $743.3M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0220% | 1h | 85,343.7 | −0.131% | $79K | $227K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0232% | 1h | 85,419.4 | −0.042% | $689K | $8.0M | 30x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,449 | −0.008% | $8.7M | $43.3M | 25x | as long as short |
Nado BTC-PERP
Kraken Futures PF_XBTUSD
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
RISEx BTC/USDC