Funding you earn now, next payment 22:00 UTC−0.0034%/8h= −3.8% APRnext payment −$0.04 per $10,000 · paid last 24h −0.002%
Price spread now: Backpack against Hyperliquid−0.051%7-day average −0.012% · you buy dearer than you sell
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$280.278% of the position
Funding, last 7 days+0.044%+$4 on $10k
+Price spread, last 4 days (all we have)−0.163%−$16 · spread now −0.051%, 7d avg −0.012%
=Together, before fees−0.119%+ Points / potential airdropHyperliquid: Season 2 · farm board−$12 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Backpack is 0.039% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.012%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid DOT | 1.1870 | 0.0100 | pay 0.0013% / 1h | 41m 06s | $5.3M | $3.1M | 10x |
| Short | Backpack DOT_USDC_PERP | 1.1864 | 0.0066 | get 0.0008% / 1h | 41m 06s | $95K | $120K | 10x |
Hyperliquid DOT
Backpack DOT_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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
- −$7.21
- Price spread: −0.051% → −0.012%
- −$3.89
- Slippage, 4 orders
- −$8.81
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$38.9
- Costs to cover
- 0.278%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 11 min ago; Backpack: live order book, 47 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, 11 min ago | 1.27 bp | 7.8 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 47 min ago | 0.42 bp | 6.1 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
DOT on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit DOT_USDC-PERPETUAL | −0.0760% | 1h | 1.1870 | 0.000% | $217K | $118K | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1856 | −0.116% | $257 | — | — | as long as short |
| Kraken Futures PF_DOTUSD | −0.0129% | 1h | 1.1866 | −0.031% | $4.4M | $1.3M | 50x | as long as short |
| Injective DOT/USDC PERP | −0.0080% | 1h | 1.1820 | −0.421% | $323 | $83K | 12x | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0064% | 1h | 1.1850 | −0.168% | $189K | $1.8M | 50x | as long as short |
| OKX DOT-USDT-SWAP | −0.0039% | 8h | 1.1863 | −0.059% | $9.3M | $22.9M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1859 | −0.097% | $143K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1863 | −0.060% | $3K | — | 150x | as long as short |
| KuCoin DOTUSDTM | +0.0039% | 8h | 1.1859 | −0.093% | $6.7M | $8.6M | 75x | as long as short |
| Backpack DOT_USDC_PERPshort | +0.0066% | 1h | 1.1864 | −0.051% | $95K | $120K | 10x |
Deribit DOT_USDC-PERPETUAL
Reya DOTRUSDPERP
Kraken Futures PF_DOTUSD
Injective DOT/USDC PERP
Coinbase International DOT-PERP-INTX
OKX DOT-USDT-SWAP
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
KuCoin DOTUSDTMShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC DOT_USDT | +0.0089% | 8h | 1.1863 | −0.059% | $32.0M | $34.0M | 300x | as long as short |
| Binance DOTUSDT | +0.0092% | 8h | 1.1863 | −0.057% | $43.8M | $79.7M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1860 | −0.083% | $259K | $563K | 10x | as long as short |
| Extended DOT-USD | +0.0096% | 1h | 1.1855 | −0.127% | $15K | $240K | 25x | as long as short |
| Hyperliquid DOTlong | +0.0100% | 1h | 1.1870 | long leg | $5.3M | $3.1M | 10x | |
| Aster DOTUSDT | +0.0100% | 8h | 1.1851 | −0.157% | $888K | $647K | 50x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.1861 | −0.076% | $24.4M | $17.6M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1860 | −0.084% | $6.8M | $11.2M | 75x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1863 | −0.059% | $22.8M | $13.4M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.1863 | −0.059% | — | $28.5M | — | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.1795 | −0.636% | $537K | $91K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1806 | −0.537% | $34K | $333K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1806 | −0.539% | $229K | $469K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1850 | −0.168% | $8K | $27K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1877 | +0.059% | $2K | $1.2M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1820 | −0.421% | $245K | $206K | 75x | as long as short |
| BloFin DOT-USDT | +0.0212% | 8h | 1.1862 | −0.067% | $2.3M | $755K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0300% / S −0.1014% | 1h | 1.1864 | −0.051% | $22K | — | 100x | as long as short |
| Phemex DOTUSDT | +0.0393% | 8h | 1.1870 | 0.000% | $2.2M | $2.1M | 50x | as long as short |
MEXC DOT_USDT
Binance DOTUSDT
Lighter DOT
Extended DOT-USD
Aster DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
Bitget DOTUSDT
BingX DOT-USDT
Variational Omni DOT
edgeX DOTUSDC
GRVT DOT_USDT_Perp
Orderly PERP_DOT_USDC
SunX DOT-USDT
HTX DOT-USDT
BloFin DOT-USDT
GMX DOT/USD [WBTC.b-USDC]
Phemex DOTUSDT