Funding you earn now, next payment 22:00 UTC−0.0253%/8h= −27.7% APRpaid last 24h −0.116%
Price spread now: Hyperliquid against Phemex−0.042%7-day average −0.167% · you buy dearer than you sell
Net, funding: paid 7d − costs−$124as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$460.459% of the position
Funding, last 7 days−0.777%−$78 on $10k
+Price spread, last 3 days (all we have)+0.059%+$6 · spread now −0.042%, 7d avg −0.167%
=Together, before fees−0.719%+ Points / potential airdropHyperliquid: Season 2 · farm board−$72 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.125% dearer against Phemex than usual: you sell high and buy low (spread −0.042% now, against its 7-day average of −0.167%): +$12 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 39 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex DOTUSDT | 1.1960 | 0.0353 | pay 0.0353% / 8h | 2h 32m | $2.2M | $2.1M | 50x |
| Short | Hyperliquid DOT | 1.1955 | 0.0100 | get 0.0013% / 1h | 32m 16s | $5.3M | $3.1M | 10x |
Phemex DOTUSDT
Hyperliquid DOTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Phemex. 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
- −$53.17
- Price spread: −0.042% → −0.167%
- $12.49
- Slippage, 4 orders
- −$24.92
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$86.61
- Costs to cover
- 0.459%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 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 Phemex live order book, 1 min ago | 4.18 bp | 10.2 bp −$10 | 39.3 bp −$393 | 116.6 bp −$11.7K | doesn't fit |
| Sell Hyperliquid live order book, 10 min ago | 0.84 bp | 8.4 bp −$8 | 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 | −0.0251% | 1h | 1.1961 | +0.008% | $219K | $118K | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1946 | −0.119% | $259 | — | — | as long as short |
| Kraken Futures PF_DOTUSD | −0.0128% | 1h | 1.1962 | +0.018% | $4.5M | $1.3M | 50x | as long as short |
| Injective DOT/USDC PERP | −0.0080% | 1h | 1.1820 | −1.171% | $323 | $83K | 12x | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0064% | 1h | 1.1950 | −0.084% | $191K | $1.8M | 50x | as long as short |
| OKX DOT-USDT-SWAP | −0.0036% | 8h | 1.1949 | −0.092% | $9.4M | $23.1M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1956 | −0.035% | $144K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1957 | −0.029% | $3K | — | 150x | as long as short |
| KuCoin DOTUSDTM | +0.0028% | 8h | 1.1950 | −0.084% | $6.9M | $8.7M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1952 | −0.063% | $261K | $563K | 10x | as long as short |
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 DOTUSDTM
Lighter DOTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid DOTshort | +0.0100% | 1h | 1.1955 | −0.042% | $5.3M | $3.1M | 10x | |
| Aster DOTUSDT | +0.0100% | 8h | 1.1955 | −0.039% | $896K | $639K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.1950 | −0.082% | $44.2M | $79.8M | 75x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.1948 | −0.100% | $24.5M | $17.6M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1950 | −0.084% | $6.9M | $11.2M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.1950 | −0.084% | $33.0M | $34.5M | 300x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1950 | −0.084% | $23.0M | $13.5M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.1948 | −0.100% | — | $28.5M | — | as long as short |
| Backpack DOT_USDC_PERP | +0.0100% | 1h | 1.1936 | −0.201% | $95K | $121K | 10x | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.1906 | −0.451% | $542K | $91K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1919 | −0.343% | $35K | $332K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1920 | −0.334% | $231K | $469K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1950 | −0.084% | $8K | $27K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1967 | +0.059% | $2K | $1.2M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1938 | −0.184% | $247K | $207K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.1946 | −0.116% | $15K | $240K | 25x | as long as short |
| BloFin DOT-USDT | +0.0220% | 8h | 1.1938 | −0.184% | $2.2M | $760K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0301% / S −0.1014% | 1h | 1.1954 | −0.053% | $22K | — | 100x | as long as short |
| Phemex DOTUSDTlong | +0.0353% | 8h | 1.1960 | long leg | $2.2M | $2.1M | 50x |
Aster DOTUSDT
Binance DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
MEXC DOT_USDT
Bitget DOTUSDT
BingX DOT-USDT
Backpack DOT_USDC_PERP
Variational Omni DOT
edgeX DOTUSDC
GRVT DOT_USDT_Perp
Orderly PERP_DOT_USDC
SunX DOT-USDT
HTX DOT-USDT
Extended DOT-USD
BloFin DOT-USDT
GMX DOT/USD [WBTC.b-USDC]