Funding you earn now, next payment 03:00 UTC−0.1084%/8h= −118.7% APRnext payment −$1.35 per $10,000 · paid last 24h −0.134%
Price spread now: Coinbase International against Hyperliquid+0.134%7-day average +0.256% · you sell dearer than you buy
Net, funding: paid 7d − costs−$175as in the Funding arb table
Net, price: spread back to 7d avg − costs−$149as in the Price arb table
costs, in and out, $10k−$1371.372% of the position
Funding, last 7 days−0.375%−$37 on $10k
+Price spread, last 4 days (all we have)−0.320%−$32 · spread now +0.134%, 7d avg +0.256%
=Together, before fees−0.695%+ Points / potential airdropHyperliquid: Season 2 · farm board−$70 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and Coinbase International is 0.122% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.256%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.375% in total (about -19.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.35 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 FET | 0.2012 | 0.0100 | pay 0.0013% / 1h | 48m 37s | $8.8M | $8.5M | 5x |
| Short | Coinbase International FET-PERP-INTX | 0.2015 | −0.0984 | pay 0.0123% / 1h | 48m 37s | $148K | $235K | 50x |
Hyperliquid FET
Coinbase International FET-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
- −$227.64
- Price spread: +0.134% → +0.256%
- −$12.19
- Slippage, 4 orders
- −$118.15
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$376.98
- Costs to cover
- 1.372%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; Coinbase International: live order book, 9 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, 4 min ago | 0.98 bp | 6.0 bp −$6 | 17.0 bp −$170 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 9 min ago | 9.80 bp | 56.8 bp −$57 | doesn't fit | doesn't fit | doesn't fit |
FET on 20 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 FET_USDC-PERPETUAL | −0.4201% | 1h | 0.2013 | +0.035% | $38K | $305K | 10x | as long as short |
| Coinbase International FET-PERP-INTXshort | −0.0984% | 1h | 0.2015 | +0.134% | $148K | $235K | 50x | |
| Kraken Futures PF_FETUSD | −0.0456% | 1h | 0.2017 | +0.223% | $995K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0011% | 1h | 0.2012 | +0.007% | $33K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −0.114% | $3K | $166K | 12x | as long as short |
| Hyperliquid FETlong | +0.0100% | 1h | 0.2012 | long leg | $8.8M | $8.5M | 5x | |
| Aster FETUSDT | +0.0100% | 8h | 0.2013 | +0.048% | $206K | $793K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2011 | −0.065% | $31.0M | $113.6M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2010 | −0.114% | $2.7M | $12.5M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2010 | −0.114% | $29.9M | $24.0M | 200x | as long as short |
Deribit FET_USDC-PERPETUAL
Kraken Futures PF_FETUSD
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
MEXC FET_USDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2011 | −0.065% | $10.6M | $18.8M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2026 | +0.688% | $339K | $423K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2012 | −0.015% | $38K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2010 | −0.092% | $35K | $249K | 10x | as long as short |
| OKX FET-USDT-SWAP | +0.0189% | 4h | 0.2012 | −0.015% | $1.0M | $8.2M | 20x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2012 | 0.000% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2011 | −0.065% | $1.7M | $3.1M | 100x | as long as short |
| Bitget FETUSDT | +0.0329% | 8h | 0.2011 | −0.065% | $16.3M | $11.9M | 75x | as long as short |
| BingX FET-USDT | +0.0330% | 8h | 0.2011 | −0.065% | — | $5.9M | — | as long as short |
| Phoenix FET | +0.0505% | 1h | 0.2015 | +0.144% | $35K | $39K | 5x | as long as short |
KuCoin FETUSDTM
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
OKX FET-USDT-SWAP
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
Bitget FETUSDT
BingX FET-USDT
Phoenix FET