Funding you earn now, next payment 23:00 UTC−0.0308%/8h= −33.7% APRnext payment −$0.39 per $10,000 · paid last 24h −0.080%
Price spread now: Coinbase International against Hyperliquid+0.043%7-day average −0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs−$86as in the Funding arb table
Net, price: spread back to 7d avg − costs−$82as in the Price arb table
costs, in and out, $10k−$880.879% of the position
Funding, last 7 days+0.015%+$1 on $10k
+Price spread, last 3 days (all we have)−0.154%−$15 · spread now +0.043%, 7d avg −0.019%
=Together, before fees−0.139%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.061% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of −0.019%): +$6 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 16 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.015% in total (about 0.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.39 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 CFX | 0.05406 | 0.0708 | pay 0.0089% / 1h | 2m 44s | $3.2M | $388K | 5x |
| Short | Coinbase International CFX-PERP-INTX | 0.05408 | 0.0400 | get 0.0050% / 1h | 2m 44s | $35K | $160K | 50x |
Hyperliquid CFX
Coinbase International CFX-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$64.69
- Price spread: +0.043% → −0.019%
- $6.11
- Slippage, 4 orders
- −$68.88
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$146.46
- Costs to cover
- 0.879%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Coinbase International: 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 Hyperliquid live order book, 9 min ago | 1.02 bp | 18.6 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 10 min ago | 15.82 bp | 22.5 bp −$23 | doesn't fit | doesn't fit | doesn't fit |
CFX on 16 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster CFXUSDT | +0.0100% | 8h | 0.05395 | −0.191% | $5K | $47K | 5x | as long as short |
| Binance CFXUSDT | +0.0100% | 8h | 0.05391 | −0.263% | $5.4M | $11.0M | 75x | as long as short |
| Bybit CFXUSDT | +0.0100% | 8h | 0.05394 | −0.216% | $2.4M | $1.8M | 25x | as long as short |
| OKX CFX-USDT-SWAP | +0.0100% | 8h | 0.05389 | −0.309% | $2.5M | $6.2M | 20x | as long as short |
| Gate CFX_USDT | +0.0100% | 8h | 0.05397 | −0.161% | $1.1M | $3.0M | 50x | as long as short |
| MEXC CFX_USDT | +0.0100% | 8h | 0.05392 | −0.253% | $3.5M | $1.8M | 125x | as long as short |
| KuCoin CFXUSDTM | +0.0100% | 8h | 0.05396 | −0.179% | $889K | $294K | 75x | as long as short |
| Bitget CFXUSDT | +0.0100% | 8h | 0.05392 | −0.253% | $1.6M | $1.5M | 75x | as long as short |
| BingX CFX-USDT | +0.0100% | 8h | 0.05397 | −0.161% | — | $20.7M | — | as long as short |
| Variational Omni CFX | +0.0100% | 8h | 0.05393 | −0.239% | $38K | $41K | — | as long as short |
Aster CFXUSDT
Binance CFXUSDT
Bybit CFXUSDT
OKX CFX-USDT-SWAP
Gate CFX_USDT
MEXC CFX_USDT
KuCoin CFXUSDTM
Bitget CFXUSDT
BingX CFX-USDT
Variational Omni CFXShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT CFX_USDT_Perp | +0.0100% | 8h | 0.05390 | −0.285% | $511K | $1.9M | 10x | as long as short |
| Extended CFX-USD | +0.0104% | 1h | 0.05392 | −0.247% | $134 | $253K | 10x | as long as short |
| Coinbase International CFX-PERP-INTXshort | +0.0400% | 1h | 0.05408 | +0.043% | $35K | $160K | 50x | |
| Hyperliquid CFXlong | +0.0708% | 1h | 0.05406 | long leg | $3.2M | $388K | 5x | |
| Kraken Futures PF_CFXUSD | +0.1101% | 1h | 0.05402 | −0.072% | $33K | $23K | 20x | as long as short |
| Deribit CFX_USDC-PERPETUAL | +0.1974% | 1h | 0.05407 | +0.024% | $143 | $29 | 10x | as long as short |
GRVT CFX_USDT_Perp
Extended CFX-USD
Kraken Futures PF_CFXUSD
Deribit CFX_USDC-PERPETUAL