Find where your perp trade costs less, after fees.

Estimated net over 168h

+$137.38 (taker fees)

Net carry per hour

+$1.01

Break-even

32.1 hours of current carry to cover round-trip costs

Basis (mark long venue vs short venue)

-19.08 bps. Basis and funding can change, and closing prices may differ.

Data

OKX quote 31s ago, Strike quote 12s ago

Funding on each leg

Leg	Raw rate per interval	Per hour	24h on $10,000	APR (secondary)
Long on OKX	-0.0082% per 8h	-0.00102%	+$2.46 (you receive)	-9.0%
Short on Strike	0.0091% per 1h	0.00909%	+$21.81 (you receive)	79.6%

Cost line items (USD, $10,000 notional, 168h)

Funding, long leg on okx	+$17.19
Funding, short leg on strike	+$152.69
Fees on okx (entry + exit, taker)	-$10.00
Fees on strike (entry + exit, taker)	-$10.00
Slippage on okx (entry + exit)	-$5.28
Slippage on strike (entry + exit)	-$7.22
Estimated net	+$137.38

Estimate after modeled fees and slippage, assuming current funding persists. Slippage is the average fill from walking each order book at your size, vs mid.

Estimated net over 168h

+$123.09 (taker fees)

Net carry per hour

+$0.93

Break-even

36.0 hours of current carry to cover round-trip costs

Basis (mark long venue vs short venue)

-11.16 bps. Basis and funding can change, and closing prices may differ.

Data

Hyperliquid quote 11s ago, Strike quote 12s ago

Funding on each leg

Leg	Raw rate per interval	Per hour	24h on $10,000	APR (secondary)
Long on Hyperliquid	-0.0002% per 1h	-0.00024%	+$0.58 (you receive)	-2.1%
Short on Strike	0.0091% per 1h	0.00909%	+$21.81 (you receive)	79.6%

Cost line items (USD, $10,000 notional, 168h)

Funding, long leg on hyperliquid	+$4.03
Funding, short leg on strike	+$152.69
Fees on hyperliquid (entry + exit, taker)	-$9.00
Fees on strike (entry + exit, taker)	-$10.00
Slippage on hyperliquid (entry + exit)	-$7.40
Slippage on strike (entry + exit)	-$7.22
Estimated net	+$123.09

Estimate after modeled fees and slippage, assuming current funding persists. Slippage is the average fill from walking each order book at your size, vs mid.

Why Medium confidence: Funding direction was not consistent over the last 24h.

Estimated net over 168h

-$3.08 (taker fees)

Net carry per hour

+$0.22

Break-even

181.9 hours of current carry to cover round-trip costs

Basis (mark long venue vs short venue)

-9.04 bps. Basis and funding can change, and closing prices may differ.

Data

Strike quote 12s ago, Hyperliquid quote 11s ago

Funding on each leg

Leg	Raw rate per interval	Per hour	24h on $10,000	APR (secondary)
Long on Strike	-0.0010% per 1h	-0.00098%	+$2.34 (you receive)	-8.5%
Short on Hyperliquid	0.0013% per 1h	0.00125%	+$3.00 (you receive)	11.0%

Cost line items (USD, $10,000 notional, 168h)

Funding, long leg on strike	+$16.39
Funding, short leg on hyperliquid	+$21.00
Fees on strike (entry + exit, taker)	-$10.00
Fees on hyperliquid (entry + exit, taker)	-$9.00
Slippage on strike (entry + exit)	-$14.01
Slippage on hyperliquid (entry + exit)	-$7.46
Estimated net	-$3.08

Estimate after modeled fees and slippage, assuming current funding persists. Slippage is the average fill from walking each order book at your size, vs mid.

Stock, index and commodity perps follow the underlying market hours, and reference-price gaps apply when it is closed.

Estimated net over 168h

-$4.63 (taker fees)

Net carry per hour

+$0.18

Break-even

194.0 hours of current carry to cover round-trip costs

Basis (mark long venue vs short venue)

-11.65 bps. Basis and funding can change, and closing prices may differ.

Data

Strike quote 12s ago, OKX quote 30s ago

Funding on each leg

Leg	Raw rate per interval	Per hour	24h on $10,000	APR (secondary)
Long on Strike	0.0000% per 1h	0.00000%	+$0.00 (zero funding)	0.0%
Short on OKX	0.0142% per 8h	0.00178%	+$4.27 (you receive)	15.6%

Cost line items (USD, $10,000 notional, 168h)

Funding, long leg on strike	+$0.00
Funding, short leg on okx	+$29.90
Fees on strike (entry + exit, taker)	-$10.00
Fees on okx (entry + exit, taker)	-$10.00
Slippage on strike (entry + exit)	-$12.57
Slippage on okx (entry + exit)	-$1.97
Estimated net	-$4.63

Estimate after modeled fees and slippage, assuming current funding persists. Slippage is the average fill from walking each order book at your size, vs mid.

Why Medium confidence: HL fee unverified (HIP-3 deployer fee not exposed).

Stock, index and commodity perps follow the underlying market hours, and reference-price gaps apply when it is closed.

Estimated net over 168h

-$10.00 (taker fees)

Net carry per hour

+$0.13

Break-even

244.9 hours of current carry to cover round-trip costs

Basis (mark long venue vs short venue)

5.47 bps. Basis and funding can change, and closing prices may differ.

Data

Strike quote 12s ago, Hyperliquid quote 12s ago

Funding on each leg

Leg	Raw rate per interval	Per hour	24h on $10,000	APR (secondary)
Long on Strike	0.0000% per 1h	0.00000%	+$0.00 (zero funding)	0.0%
Short on Hyperliquid	0.0013% per 1h	0.00130%	+$3.12 (you receive)	11.4%

Cost line items (USD, $10,000 notional, 168h)

Funding, long leg on strike	+$0.00
Funding, short leg on hyperliquid	+$21.86
Fees on strike (entry + exit, taker)	-$10.00
Fees on hyperliquid (entry + exit, taker)	-$9.00
Slippage on strike (entry + exit)	-$12.57
Slippage on hyperliquid (entry + exit)	-$0.29
Estimated net	-$10.00

Estimate after modeled fees and slippage, assuming current funding persists. Slippage is the average fill from walking each order book at your size, vs mid.