Funding you earn now, next payment 21:00 UTC−0.0016%/8h= −1.7% APRnext payment −$0.02 per $10,000 · paid last 24h −0.022%
Price spread now: Coinbase International against Backpack+0.022%7-day average −0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$440.438% of the position
Funding, last 7 days+0.261%+$26 on $10k
+Price spread, last 3 days (all we have)−0.097%−$10 · spread now +0.022%, 7d avg −0.002%
=The price spread pays, funding is against you. Coinbase International is 0.023% dearer against Backpack than usual: you sell high and buy low (spread +0.022% now, against its 7-day average of −0.002%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 4.8 days. Mind the row above: over the last 7 days funding on this pair paid +0.261%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack HBAR_USDC_PERP | 0.09258 | 0.0088 | pay 0.0011% / 1h | 22m 13s | $31K | $102K | 15x |
| Short | Coinbase International HBAR-PERP-INTX | 0.09260 | 0.0072 | get 0.0009% / 1h | 22m 13s | $222K | $2.2M | 50x |
Backpack HBAR_USDC_PERP
Coinbase International HBAR-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Backpack. 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
- −$3.34
- Price spread: +0.022% → −0.002%
- $2.32
- Slippage, 4 orders
- −$23.82
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$44.85
- Costs to cover
- 0.438%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 1 min ago; Coinbase International: live order book, 2 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 Backpack live order book, 1 min ago | 0.54 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 1.62 bp | 13.7 bp −$14 | 17.8 bp −$178 | doesn't fit | doesn't fit |
HBAR on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin HBARUSDTM | −0.0029% | 8h | 0.09253 | −0.054% | $7.4M | $7.9M | 75x | as long as short |
| Gate HBAR_USDT | −0.0018% | 8h | 0.09251 | −0.076% | $2.4M | $3.5M | 75x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | 0.0000% | 1h | 0.09262 | +0.043% | $510K | $150K | 50x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09257 | −0.012% | $8K | — | 150x | as long as short |
| Variational Omni HBAR | +0.0052% | 8h | 0.09240 | −0.198% | $1.0M | $197K | — | as long as short |
| MEXC HBAR_USDT | +0.0063% | 8h | 0.09255 | −0.032% | $24.0M | $22.7M | 200x | as long as short |
| Extended HBAR-USD | +0.0064% | 1h | 0.09253 | −0.057% | $51K | $210K | 10x | as long as short |
| Binance HBARUSDT | +0.0064% | 8h | 0.09256 | −0.022% | $34.8M | $110.7M | 75x | as long as short |
| Coinbase International HBAR-PERP-INTXshort | +0.0072% | 1h | 0.09260 | +0.022% | $222K | $2.2M | 50x | |
| Orderly PERP_HBAR_USDC | +0.0076% | 8h | 0.09254 | −0.043% | $2K | $18K | 10x | as long as short |
KuCoin HBARUSDTM
Gate HBAR_USDT
Deribit HBAR_USDC-PERPETUAL
gTrade (Gains Network) HBAR/USD
Variational Omni HBAR
MEXC HBAR_USDT
Extended HBAR-USD
Binance HBARUSDT
Orderly PERP_HBAR_USDCShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Backpack HBAR_USDC_PERPlong | +0.0088% | 1h | 0.09258 | long leg | $31K | $102K | 15x | |
| Lighter HBAR | +0.0096% | 1h | 0.09256 | −0.022% | $568K | $590K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09270 | +0.133% | $8.9M | $2.9M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09254 | −0.038% | $211K | $429K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09255 | −0.032% | $33.1M | $37.0M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09251 | −0.076% | $6.9M | $24.8M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09258 | 0.000% | $17.0M | $14.9M | 75x | as long as short |
| BingX HBAR-USDC | +0.0100% | 8h | 0.09255 | −0.032% | — | $6.7M | — | as long as short |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09226 | −0.346% | $376K | $2.1M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09230 | −0.302% | $148K | $707K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09255 | −0.032% | $430 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09259 | +0.011% | $73K | $53K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09254 | −0.043% | $2.2M | $2.2M | 50x | as long as short |
| BloFin HBAR-USDT | +0.0183% | 8h | 0.09236 | −0.238% | $1.4M | $5.6M | 90x | as long as short |
| Injective HBAR/USDC PERP | +0.0311% | 1h | 0.09234 | −0.259% | $2K | $112K | 12x | as long as short |
| Kraken Futures PF_HBARUSD | +0.0381% | 1h | 0.09263 | +0.052% | $1.4M | $2.4M | 50x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0446% / S −0.0478% | 1h | 0.09259 | +0.014% | $104K | — | 100x | as long as short |
| dYdX HBAR-USD | +0.3498% | 1h | 0.09249 | −0.101% | $30K | $4K | 5x | as long as short |
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDC
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
BloFin HBAR-USDT
Injective HBAR/USDC PERP
Kraken Futures PF_HBARUSD
GMX HBAR/USD [WBTC.b-USDC]
dYdX HBAR-USD