S

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.035%

Price spread now: Deribit against Hyperliquid+0.133%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. Deribit is 0.133% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.133% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid S	0.04060	0.0100	pay 0.0013% / 1h	49m 10s	$1.0M	$549K	5x
Short	Deribit S_USDC-PERPETUAL	0.04065	0	get 0.0000% / 1h	49m 10s	$68K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Hyperliquid. 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 HyperliquidbpFee DeribitbpOrdersPrice spread, now +0.133%Rate

Funding earned: −$21
Price spread: +0.133% → 0.000%: $13.3
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$23.7
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 1 min ago; Deribit: 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, 1 min ago	1.35 bp	14.8 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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 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
01 Exchange SUSD	−0.9688%	1h	0.03960	−2.453%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2518%	1h	0.04055	−0.113%	$34K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.04022	−0.926%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04063	+0.081%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04061	+0.037%	$4	—	15x	as long as short
Variational Omni S	−0.0101%	4h	0.04080	+0.497%	$633K	$31K	—	as long as short
Deribit S_USDC-PERPETUALshort	0.0000%	1h	0.04065	+0.133%	$68K	$10K	10x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04064	+0.106%	$3K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.995%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0058%	4h	0.04059	−0.015%	$101K	$307K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.04063	+0.084%	$171K	$154K	5x	as long as short
Hyperliquid Slong	+0.0100%	1h	0.04060	long leg	$1.0M	$549K	5x
Aster SUSDT	+0.0100%	4h	0.04066	+0.152%	$44K	$130K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04059	−0.021%	$5.6M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04055	−0.113%	$5.8M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04058	−0.039%	$1.1M	$3.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04061	+0.034%	$333K	$187K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04059	−0.015%	$3.9M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04061	+0.034%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04061	+0.034%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04056	−0.089%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04080	+0.503%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04057	−0.060%	$233K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04058	−0.039%	$282K	$98K	75x	as long as short
Backpack S_USDC_PERP	+0.0602%	1h	0.04070	+0.256%	$118K	$395K	5x	as long as short