Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%
Price spread now: Derive against Hyperliquid−0.076%7-day average −0.079% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.103%−$10 on $10k
+Price spread, last 3 days (all we have)−0.087%−$9 · spread now −0.076%, 7d avg −0.079%
=Together, before fees−0.190%+ Points / potential airdropHyperliquid: Season 2 · farm board−$19 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 86,698 | 0.0100 | pay 0.0013% / 1h | 33m 21s | $3.82B | $5.12B | 40x |
| Short | Derive BTC-PERP | 86,632.2 | 0.0100 | get 0.0013% / 1h | 33m 21s | $30.0M | $61.6M | 15x |
Hyperliquid BTC
Derive BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive 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
- $0
- Price spread: −0.076% → −0.079%
- $0.27
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$14.73
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 11 min ago; Derive: no order-book sample. 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 Hyperliquid live order book, 11 min ago | 0.06 bp | 4.6 bp −$5 | 5.5 bp −$55 | 6.3 bp −$627 | 7.1 bp −$3,570 |
| Sell Derive no order-book sample | — | — | — | — | — |
Derive: 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.
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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0230% | 1h | 86,618.2 | −0.092% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,644.6 | −0.062% | $428K | $24.9M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,539 | −0.183% | $2.2M | $12.4M | 40x | as long as short |
| dYdX BTC-USD | −0.0083% | 1h | 86,671.7 | −0.030% | $17.6M | $20.5M | 50x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,624 | −0.085% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,648.7 | −0.057% | $363K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,654.7 | −0.050% | $935.6M | $1.44B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0001% | 8h | 86,623.7 | −0.086% | $844.2M | $704.7M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 86,645.9 | −0.060% | $37.0M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0009% | 8h | 86,621.9 | −0.088% | $505.8M | $1.16B | 200x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
dYdX BTC-USD
Hotstuff BTC-PERP
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,617.5 | −0.093% | $6.7M | $144.3M | 40x | as long as short |
| BingX BTC-USDC | +0.0022% | 8h | 86,613.8 | −0.097% | — | $15.2M | — | as long as short |
| Phemex BTCUSDT | +0.0023% | 8h | 86,610.1 | −0.101% | $149.5M | $471.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0030% | 8h | 86,624.9 | −0.084% | $2.95B | $5.07B | 150x | as long as short |
| Aevo BTC-PERP | +0.0048% | 1h | 86,627.1 | −0.082% | $2.4M | $1.3M | 20x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,639 | −0.068% | $315K | $26.8M | 52x | as long as short |
| MEXC BTC_USDT | +0.0052% | 8h | 86,623.3 | −0.086% | $5.19B | $5.67B | 500x | as long as short |
| Binance BTCUSDT | +0.0053% | 8h | 86,620.5 | −0.089% | $9.44B | $24.31B | 150x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,636.8 | −0.071% | $9.2M | $42.0M | 25x | as long as short |
| OKX BTC-USDT-SWAP | +0.0072% | 8h | 86,631.1 | −0.077% | $2.56B | $12.70B | 100x | as long as short |
| Gate BTC_USDT | +0.0073% | 8h | 86,626.5 | −0.083% | $5.86B | $10.63B | 200x | as long as short |
| Bybit BTCUSDT | +0.0082% | 8h | 86,624.6 | −0.085% | $5.27B | $9.67B | 150x | as long as short |
| Variational Omni BTC | +0.0092% | 8h | 86,584.3 | −0.131% | $160.0M | $567.1M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,643.1 | −0.063% | $172.1M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,648.1 | −0.058% | $24.0M | $153.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,621 | −0.089% | $8.5M | $52.2M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,615 | −0.096% | $194K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,680.4 | −0.020% | $4.8M | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,626 | −0.083% | $21.6M | $235.4M | 50x | as long as short |
| Hyperliquid BTClong | +0.0100% | 1h | 86,698 | long leg | $3.82B | $5.12B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,661 | −0.043% | $41.3M | $490.3M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,637 | −0.070% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,689.3 | −0.010% | $7.5M | $93.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,606.9 | −0.105% | $571.9M | $22.8M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,613.2 | −0.098% | $38.1M | $148.4M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,587.1 | −0.128% | $279.7M | $950.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,619.4 | −0.091% | $217.4M | $187.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,686.6 | −0.013% | $141.7M | $322.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,593.6 | −0.120% | $30.8M | $205.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,683.5 | −0.017% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,632 | −0.076% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,624.6 | −0.085% | $195K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,642.7 | −0.064% | $2.5M | $8.5M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,647 | −0.059% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 86,632.2 | −0.076% | $30.0M | $61.6M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,628.9 | −0.080% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,620 | −0.090% | $60.5M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,657.7 | −0.046% | $2.30B | $957.2M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,609.1 | −0.103% | $46.4M | $227.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,645.3 | −0.061% | — | $98.4M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0116% | 1h | 86,657.7 | −0.047% | $188.8M | $930.8M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,656 | −0.048% | $132.0M | $5.86B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0123% | 8h | 86,669 | −0.033% | $9.0M | $723.4M | 6.4x | as long as short |
| BloFin BTC-USDT | +0.0172% | 8h | 86,606.7 | −0.105% | $416.8M | $650.6M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0178% / S −0.0185% | 1h | 86,638.2 | −0.069% | $14.9M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 86,648.5 | −0.057% | $614K | $7.1M | 30x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDC
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
Injective BTC/USDC PERP
MEXC BTC_USDT
Binance BTCUSDT
RISEx BTC/USDC
OKX BTC-USDT-SWAP
Gate BTC_USDT
Bybit BTCUSDT
Variational Omni BTC
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
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
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Kalshi KXBTCPERP
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P