Funding you earn now, next payment 05:00 UTC−0.0916%/8h= −100.3% APRpaid last 24h −0.034%
Price spread now: Hyperliquid against Orderly−0.015%7-day average +0.094% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.082%−$8 on $10k
+Price spread, last 4 days (all we have)+0.268%+$27 · spread now −0.015%, 7d avg +0.094%
=Together, before fees+0.186%+ Points / potential airdropHyperliquid: Season 2 · farm board+$19 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Hyperliquid is 0.109% cheaper against Orderly than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.094%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.082% in total (about -4.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_USELESS_USDC | 0.2626 | 0.1272 | pay 0.0636% / 4h | 3h 11m | $20K | $1.2M | 10x |
| Short | Hyperliquid USELESS | 0.2626 | 0.0356 | get 0.0045% / 1h | 11m 24s | $11.5M | $22.6M | 3x |
Orderly PERP_USELESS_USDC
Hyperliquid USELESSFunding 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
- −$192.3
- Price spread: −0.015% → +0.094%
- −$10.93
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$218.23
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 12 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, 12 min ago | 3.64 bp | 24.6 bp −$25 | 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.
USELESS on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter USELESS | +0.0096% | 1h | 0.2627 | +0.034% | $1.2M | $1.2M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2628 | +0.091% | $28K | $18K | 3x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2625 | −0.038% | $25K | $237K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2625 | −0.053% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2627 | +0.046% | $18K | $519K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2629 | +0.122% | $609K | $1.1M | 20x | as long as short |
| Gate USELESS_USDT | +0.0102% | 4h | 0.2629 | +0.122% | $6.6M | $8.6M | 50x | as long as short |
| Aster USELESSUSDT | +0.0121% | 4h | 0.2626 | +0.007% | $519K | $2.4M | 10x | as long as short |
| Bitget USELESSUSDT | +0.0134% | 4h | 0.2625 | −0.057% | $5.0M | $10.3M | 20x | as long as short |
| Aevo USELESS-PERP | +0.0160% | 1h | 0.2621 | −0.207% | $9K | — | 3x | as long as short |
Lighter USELESS
Pacifica USELESS
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
Gate USELESS_USDT
Aster USELESSUSDT
Bitget USELESSUSDT
Aevo USELESS-PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX USELESS-USDT-SWAP | +0.0161% | 4h | 0.2624 | −0.080% | $8.9M | $63.4M | 10x | as long as short |
| KuCoin USELESSUSDTM | +0.0186% | 4h | 0.2630 | +0.145% | $4.8M | $10.7M | 12x | as long as short |
| Binance USELESSUSDT | +0.0303% | 4h | 0.2626 | +0.011% | $21.9M | $121.5M | 50x | as long as short |
| Extended USELESS-USD | +0.0304% | 1h | 0.2625 | −0.038% | $112K | $1.1M | 5x | as long as short |
| edgeX USELESSUSDC | +0.0305% | 4h | 0.2640 | +0.532% | $20K | $196K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0306% | 4h | 0.2628 | +0.057% | $10.6M | $6.1M | 50x | as long as short |
| Hyperliquid USELESSshort | +0.0356% | 1h | 0.2626 | −0.015% | $11.5M | $22.6M | 3x | |
| ApeX Omni USELESSUSDT | +0.0369% | 1h | 0.2634 | +0.301% | $36K | $695K | 25x | as long as short |
| Bybit USELESSUSDT | +0.0545% | 4h | 0.2627 | +0.050% | $24.8M | $48.4M | 13x | as long as short |
| BingX USELESS-USDT | +0.0594% | 4h | 0.2625 | −0.057% | — | $5.3M | — | as long as short |
| Variational Omni USELESS | +0.0603% | 4h | 0.2623 | −0.126% | $1.0M | $1.8M | — | as long as short |
| BloFin USELESS-USDT | +0.0867% | 4h | 0.2637 | +0.434% | $1.1M | $1.9M | 12x | as long as short |
| Orderly PERP_USELESS_USDClong | +0.1272% | 4h | 0.2626 | long leg | $20K | $1.2M | 10x | |
| Injective USELESS/USDC PERP | +0.5000% | 1h | 0.2792 | +6.333% | $5K | $11K | 5.5x | as long as short |
OKX USELESS-USDT-SWAP
KuCoin USELESSUSDTM
Binance USELESSUSDT
Extended USELESS-USD
edgeX USELESSUSDC
MEXC USELESS_USDT
ApeX Omni USELESSUSDT
Bybit USELESSUSDT
BingX USELESS-USDT
Variational Omni USELESS
BloFin USELESS-USDT
Injective USELESS/USDC PERP