Funding you earn now, next payment 00:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.038%
Price spread now: Paradex against Hyperliquid−0.177%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Paradex: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Paradex is 0.177% cheaper against Hyperliquid than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ETHFI | 0.7234 | 0.0100 | pay 0.0013% / 1h | 49m 40s | $18.3M | $8.9M | 5x |
| Short | Paradex ETHFI-USD-PERP | 0.7221 | 0.0048 | get 0.0048% / 8h | 49m 40s | $6K | — | 5x |
Hyperliquid ETHFI
Paradex ETHFI-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paradex 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
- −$10.98
- Price spread: −0.177% → 0.000%
- −$17.73
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$41.7
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 3 min ago; Paradex: 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, 3 min ago | 1.31 bp | 13.5 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Paradex no order-book sample | — | — | — | — | — |
Paradex: 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.
ETHFI on 24 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 ETHFI_USDC-PERPETUAL | −0.0580% | 1h | 0.7220 | −0.198% | $42K | $18K | 10x | as long as short |
| HTX ETHFI-USDT | −0.0344% | 4h | 0.7215 | −0.267% | $84K | $164K | 20x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0193% | 4h | 0.7217 | −0.239% | $16K | $1K | 10x | as long as short |
| MEXC ETHFI_USDT | +0.0030% | 4h | 0.7223 | −0.156% | $15.3M | $3.8M | 125x | as long as short |
| Binance ETHFIUSDT | +0.0030% | 4h | 0.7234 | −0.004% | $25.1M | $37.2M | 75x | as long as short |
| Extended ETHFI-USD | +0.0032% | 1h | 0.7222 | −0.174% | $94K | $493K | 10x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +0.079% | $321 | $51K | 5.5x | as long as short |
| Aster ETHFIUSDT | +0.0045% | 4h | 0.7228 | −0.083% | $185K | $261K | 10x | as long as short |
| Paradex ETHFI-USD-PERPshort | +0.0048% | 8h | 0.7221 | −0.177% | $6K | — | 5x | |
| Aevo ETHFI-PERP | +0.0088% | 1h | 0.7215 | −0.267% | $9K | — | 3x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
HTX ETHFI-USDT
Orderly PERP_ETHFI_USDC
MEXC ETHFI_USDT
Binance ETHFIUSDT
Extended ETHFI-USD
Injective ETHFI/USDC PERP
Aster ETHFIUSDT
Aevo ETHFI-PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter ETHFI | +0.0096% | 1h | 0.7233 | −0.017% | $1.1M | $896K | 5x | as long as short |
| Hyperliquid ETHFIlong | +0.0100% | 1h | 0.7234 | long leg | $18.3M | $8.9M | 5x | |
| Bybit ETHFIUSDT | +0.0100% | 4h | 0.7226 | −0.115% | $18.3M | $13.0M | 25x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7230 | −0.059% | $5.0M | $12.6M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7225 | −0.129% | $1.7M | $2.1M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7231 | −0.046% | $1.2M | $273K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.7223 | −0.156% | $6.2M | $5.7M | 75x | as long as short |
| BingX ETHFI-USDT | +0.0100% | 4h | 0.7225 | −0.129% | — | $26.1M | — | as long as short |
| Variational Omni ETHFI | +0.0100% | 4h | 0.7232 | −0.037% | $1.0M | $729K | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7222 | −0.166% | $60K | $93K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7218 | −0.225% | $2K | $1.1M | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0128% | 4h | 0.7228 | −0.087% | $1.3M | $295K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0216% | 1h | 0.7237 | +0.037% | $32K | $6K | 50x | as long as short |
| Kraken Futures PF_ETHFIUSD | +0.0548% | 1h | 0.7231 | −0.052% | $279K | $158K | 20x | as long as short |
Lighter ETHFI
Bybit ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDT
Variational Omni ETHFI
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX
Kraken Futures PF_ETHFIUSD