S

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h −0.011%

Price spread now: Hyperliquid against Deribit−0.096%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

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 · farm boardneeds both histories

Funding pays, the price is against you. Hyperliquid is 0.096% cheaper against Deribit than usual: you would sell low and buy high (spread −0.096% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit S_USDC-PERPETUAL	0.04589	0	get 0.0000% / 1h	57m 34s	$77K	$512	10x
Short	Hyperliquid S	0.04585	0.0100	get 0.0013% / 1h	57m 34s	$1.2M	$859K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee HyperliquidbpOrdersPrice spread, now −0.096%Rate

Funding earned: $21
Price spread: −0.096% → 0.000%: −$9.59
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$4.59
Costs to cover: 0.160%
Break-even: 8.5 days

Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 6 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 6 min ago	2.63 bp	26.8 bp −$27	doesn't fit	doesn't fit	doesn't fit

Deribit: 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.

S on 25 exchanges

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
01 Exchange SUSD	−1.1064%	1h	0.04440	−3.247%	$27K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.4583%	1h	0.04579	−0.218%	$39K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1904%	1h	0.04128	−10.046%	$50K	$18K	25x	as long as short
Variational Omni S	−0.0647%	4h	0.04544	−0.982%	$704K	$7K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04614	+0.553%	$2K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04579	−0.226%	$5	—	15x	as long as short
Orderly PERP_S_USDC	−0.0022%	4h	0.04584	−0.109%	$114K	$646K	10x	as long as short
Deribit S_USDC-PERPETUALlong	0.0000%	1h	0.04589	long leg	$77K	$512	10x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04588	−0.021%	$706	—	150x	as long as short
Lighter S	+0.0096%	1h	0.04581	−0.174%	$159K	$141K	5x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid Sshort	+0.0100%	1h	0.04585	−0.096%	$1.2M	$859K	5x
Aster SUSDT	+0.0100%	4h	0.04584	−0.109%	$48K	$154K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04580	−0.187%	$6.8M	$20.0M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04576	−0.283%	$6.5M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04578	−0.240%	$1.4M	$6.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04580	−0.196%	$386K	$227K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04580	−0.196%	$4.5M	$3.0M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04577	−0.261%	$2.2M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04583	−0.131%	$1.4M	$2.9M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04578	−0.240%	—	$7.0M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04610	+0.458%	$26K	$523K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04577	−0.256%	$243K	$1.3M	10x	as long as short
Injective S/USDC PERP	+0.0140%	1h	0.04600	+0.240%	$2K	$2	12x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04601	+0.261%	$338K	$217K	75x	as long as short
Backpack S_USDC_PERP	+0.0980%	1h	0.04590	+0.022%	$109K	$463K	5x	as long as short