Funding you earn now, next payment 01:00 UTC−0.0806%/8h= −88.2% APRnext payment −$1.01 per $10,000 · paid last 24h −0.147%
Price spread now: Deribit against Hyperliquid−0.341%50s7-day average −0.058% · you buy dearer than you sell
Net, funding: paid 7d − costs−$61as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$310.310% of the position
Funding, last 7 days−0.300%−$30 on $10k
+Price spread, last 3 days (all we have)+0.314%+$31 · spread now −0.341%, 7d avg −0.058%
=Together, before fees+0.014%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Deribit is 0.283% cheaper against Hyperliquid than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.058%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.300% in total (about -15.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.01 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 DOGE | 0.1001 | 0.0806 | pay 0.0101% / 1h | 57m 28s | $118.0M | $91.1M | 10x |
| Short | Deribit DOGE_USDC-PERPETUAL | 0.09980 | 0 | get 0.0000% / 1h | 57m 28s | $600K | $121K | 25x |
Hyperliquid DOGE
Deribit DOGE_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
- −$169.22
- Price spread: −0.341% → −0.058%
- −$28.27
- Slippage, 4 orders
- −$15.01
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$228.5
- Costs to cover
- 0.310%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 6 min ago; Deribit: live order book, 16 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, 6 min ago | 0.55 bp | 5.1 bp −$5 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 16 min ago | 3.53 bp | 9.4 bp −$9 | 37.2 bp −$372 | doesn't fit | doesn't fit |
DOGE on 44 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex DOGEUSDT | −0.0481% | 8h | 0.09982 | −0.320% | $92.2M | $19.1M | 50x | as long as short |
| Bitget DOGEUSDT | −0.0206% | 8h | 0.09994 | −0.200% | $152.7M | $270.8M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0078% | 1h | 0.09976 | −0.379% | $5.9M | $33.7M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09982 | −0.323% | $397K | $4.8M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUALshort | 0.0000% | 1h | 0.09980 | −0.341% | $600K | $121K | 25x | |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1000 | −0.097% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0087% | 1h | 0.09997 | −0.169% | $224K | $44K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1000 | −0.135% | $858K | $5.6M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.1000 | −0.100% | $1K | $398K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1000 | −0.095% | $513K | $977K | 10x | as long as short |
Phemex DOGEUSDT
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.10000 | −0.144% | $4.9M | $46.3M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1000 | −0.132% | $333K | $511K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1001 | −0.088% | $318.4M | $1.39B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1000 | −0.140% | $157.7M | $436.1M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1000 | −0.110% | $110.3M | $961.8M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1001 | −0.020% | $28K | $82K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09980 | −0.340% | $382K | $12K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1000 | −0.130% | $241.7M | $126.0M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1000 | −0.110% | $110.8M | $222.1M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1000 | −0.130% | $65.9M | $42.3M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1001 | −0.090% | — | $76.1M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09986 | −0.280% | $379K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09975 | −0.388% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09982 | −0.316% | $258K | $121.0M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09979 | −0.350% | $628K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09980 | −0.340% | $146K | $253K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09996 | −0.184% | $265K | $567K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09999 | −0.150% | $73K | $446K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09999 | −0.147% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09989 | −0.250% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09978 | −0.359% | $2K | $3.7M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09981 | −0.327% | $6.0M | $52.2M | 75x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1000 | −0.139% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1000 | −0.108% | $616K | $3.9M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1000 | −0.134% | $19K | — | 3x | as long as short |
| 01 Exchange DOGEUSD | +0.0160% | 1h | 0.1001 | −0.090% | $528 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0180% | 1h | 0.09998 | −0.160% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09977 | −0.369% | $15.2M | $25.3M | 75x | as long as short |
| Phoenix DOGE | +0.0239% | 1h | 0.09979 | −0.345% | $66K | $281K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09981 | −0.330% | $2.0M | $24.4M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0244% / S −0.0263% | 1h | 0.1000 | −0.102% | $308K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0701% | 1h | 0.1001 | −0.080% | $316K | $478K | 10x | as long as short |
| Hyperliquid DOGElong | +0.0806% | 1h | 0.1001 | long leg | $118.0M | $91.1M | 10x | |
| Injective DOGE/USDC PERP | +0.0973% | 1h | 0.1002 | +0.060% | $5K | $239K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
Backpack DOGE_USDC_PERP
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Polymarket Perps DOGE-USD
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
01 Exchange DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Phoenix DOGE
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Injective DOGE/USDC PERP