Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%
Price spread now: Backpack against Deribit0.000%7-day average −0.051% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$330.330% of the position
Funding, last 7 days−0.176%−$18 on $10k
+Price spread, last 4 days (all we have)−0.019%−$2 · spread now 0.000%, 7d avg −0.051%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.051% dearer against Deribit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.051%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit HBAR_USDC-PERPETUAL | 0.09165 | 0.0077 | pay 0.0010% / 1h | 43m 50s | $505K | $169K | 50x |
| Short | Backpack HBAR_USDC_PERP | 0.09165 | 0.0081 | get 0.0010% / 1h | 43m 50s | $36K | $168K | 15x |
Deribit HBAR_USDC-PERPETUAL
Backpack HBAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- $0.84
- Price spread: 0.000% → −0.051%
- $5.06
- Slippage, 4 orders
- −$16.02
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$27.12
- Costs to cover
- 0.330%
- Break-even
- 234.2 days
Slippage from Deribit: live order book, 15 min ago; Backpack: live order book, 14 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 Deribit live order book, 15 min ago | 4.88 bp | 8.4 bp −$8 | 222.4 bp −$2,224 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 14 min ago | 0.54 bp | 10.0 bp −$10 | 784.9 bp −$7,849 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX HBAR-USD | 0.0000% | 1h | 0.09140 | −0.277% | $30K | $4K | 5x | as long as short |
| KuCoin HBARUSDTM | +0.0005% | 8h | 0.09158 | −0.076% | $7.1M | $7.2M | 75x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09164 | −0.015% | $8K | — | 150x | as long as short |
| Injective HBAR/USDC PERP | +0.0033% | 1h | 0.09282 | +1.277% | $1K | $105K | 12x | as long as short |
| Gate HBAR_USDT | +0.0043% | 8h | 0.09155 | −0.109% | $2.4M | $2.8M | 75x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0064% | 1h | 0.09141 | −0.262% | $218K | $2.1M | 50x | as long as short |
| Deribit HBAR_USDC-PERPETUALlong | +0.0077% | 1h | 0.09165 | long leg | $505K | $169K | 50x | |
| Orderly PERP_HBAR_USDC | +0.0080% | 8h | 0.09161 | −0.044% | $2K | $14K | 10x | as long as short |
| Backpack HBAR_USDC_PERPshort | +0.0081% | 1h | 0.09165 | 0.000% | $36K | $168K | 15x | |
| Variational Omni HBAR | +0.0082% | 8h | 0.09132 | −0.362% | $1.0M | $187K | — | as long as short |
dYdX HBAR-USD
KuCoin HBARUSDTM
gTrade (Gains Network) HBAR/USD
Injective HBAR/USDC PERP
Gate HBAR_USDT
Coinbase International HBAR-PERP-INTX
Orderly PERP_HBAR_USDC
Variational Omni HBARShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter HBAR | +0.0096% | 1h | 0.09159 | −0.065% | $557K | $596K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09169 | +0.044% | $8.7M | $2.8M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09164 | −0.008% | $210K | $318K | 50x | as long as short |
| Binance HBARUSDT | +0.0100% | 8h | 0.09159 | −0.065% | $33.6M | $105.2M | 75x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09159 | −0.065% | $32.4M | $33.9M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09161 | −0.044% | $6.5M | $24.4M | 50x | as long as short |
| MEXC HBAR_USDT | +0.0100% | 8h | 0.09159 | −0.065% | $25.6M | $19.5M | 200x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09159 | −0.065% | $16.8M | $15.1M | 75x | as long as short |
| BingX HBAR-USDT | +0.0100% | 8h | 0.09158 | −0.076% | — | $6.3M | — | as long as short |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09113 | −0.570% | $365K | $2.4M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09139 | −0.284% | $146K | $715K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09161 | −0.044% | $425 | $5K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09146 | −0.207% | $70K | $66K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09165 | 0.000% | $2.1M | $2.1M | 50x | as long as short |
| Extended HBAR-USD | +0.0104% | 1h | 0.09156 | −0.096% | $52K | $278K | 10x | as long as short |
| BloFin HBAR-USDT | +0.0220% | 8h | 0.09129 | −0.393% | $1.4M | $5.4M | 90x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0345% / S −0.0242% | 1h | 0.09164 | −0.013% | $79K | — | 100x | as long as short |
| Kraken Futures PF_HBARUSD | +0.0395% | 1h | 0.09167 | +0.020% | $1.4M | $2.6M | 50x | as long as short |
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDT
Binance HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
MEXC HBAR_USDT
Bitget HBARUSDT
BingX HBAR-USDT
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
Extended HBAR-USD
BloFin HBAR-USDT
GMX HBAR/USD [WBTC.b-USDC]
Kraken Futures PF_HBARUSD