Funding you earn now, next payment 08:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h +0.068%
Price spread now: Hyperliquid against Orderly+0.127%7-day average +0.020% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.466%+$47 on $10k
+Price spread, last 4 days (all we have)−0.107%−$11 · spread now +0.127%, 7d avg +0.020%
=Together, before fees+0.360%+ Points / potential airdropHyperliquid: Season 2 · farm board+$36 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Hyperliquid is 0.107% dearer against Orderly than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.020%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_S_USDC | 0.04411 | 0.0087 | pay 0.0044% / 4h | 0m 11s | $110K | $611K | 10x |
| Short | Hyperliquid S | 0.04417 | 0.0100 | get 0.0013% / 1h | 0m 11s | $1.1M | $652K | 5x |
Orderly PERP_S_USDC
Hyperliquid SFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Orderly. 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
- $2.72
- Price spread: +0.127% → +0.020%
- $10.69
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$1.59
- Costs to cover
- 0.150%
- Break-even
- 11.1 days
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 10 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 10 min ago | 4.49 bp | 15.1 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
Orderly: 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 | −0.8216% | 1h | 0.04500 | +2.018% | $28K | $2K | 5x | as long as short |
| Kraken Futures PF_SUSD | −0.1792% | 1h | 0.04410 | −0.012% | $36K | $23K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1064% | 1h | 0.04342 | −1.564% | $53K | $18K | 25x | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.04413 | +0.052% | $2K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.04405 | −0.138% | $4 | — | 15x | as long as short |
| Variational Omni S | −0.0079% | 4h | 0.04433 | +0.508% | $684K | $7K | — | as long as short |
| Deribit S_USDC-PERPETUAL | 0.0000% | 1h | 0.04413 | +0.045% | $74K | $10K | 10x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.04411 | 0.000% | $682 | — | 150x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | −7.051% | $2K | $37K | 12x | as long as short |
| Orderly PERP_S_USDClong | +0.0087% | 4h | 0.04411 | long leg | $110K | $611K | 10x |
01 Exchange SUSD
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
Variational Omni S
Deribit S_USDC-PERPETUAL
gTrade (Gains Network) S/USD
Injective S/USDC PERPShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter S | +0.0096% | 1h | 0.04422 | +0.249% | $190K | $143K | 5x | as long as short |
| Hyperliquid Sshort | +0.0100% | 1h | 0.04417 | +0.127% | $1.1M | $652K | 5x | |
| Aster SUSDT | +0.0100% | 4h | 0.04425 | +0.309% | $48K | $172K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.04417 | +0.136% | $6.5M | $15.9M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.04414 | +0.068% | $6.4M | $4.6M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.04416 | +0.113% | $1.2M | $4.7M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.04413 | +0.045% | $355K | $214K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.04418 | +0.159% | $4.6M | $2.1M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.04412 | +0.023% | $2.0M | $2.8M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04418 | +0.159% | $1.3M | $2.5M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.04419 | +0.181% | — | $6.9M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.04390 | −0.476% | $26K | $505K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.04402 | −0.193% | $245K | $1.3M | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.04433 | +0.499% | $308K | $123K | 75x | as long as short |
| Backpack S_USDC_PERP | +0.0880% | 1h | 0.04420 | +0.204% | $105K | $467K | 5x | as long as short |
Lighter S
Aster SUSDT
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT
Backpack S_USDC_PERP