All BTC pairs

BTC funding carry: dYdX vs Hyperliquid

Entering and exiting this pair costs 19 bps of notional at taker fees (5 bps at maker). Funding has to pay that back before the trade is worth anything — here is how long that takes.

Right now

Gross funding APR
16.09%
Net APY on $10k
-3.18%
Break-even
201.16h
  • Net not positive at the reference profile
Short
hyperliquid perp
BTC/USDC
Trade on hyperliquid
Long
dydx perp
BTC/USD
Trade on dydx

Last 30 days

Above its costs
24.9% of the time
Net APY when above costs
11.84%
Net APY when below costs
-3.98%
Best single hour
64.62%

Measured on 420 hours of ranking we recorded ourselves.

Round-trip cost

Venue Taker Maker Perp instrument
dYdX 5 1 BTC-USD
Hyperliquid 4.5 1.5 BTC

Other BTC pairs

How long funding takes to repay the entry

At a given gross funding APR, this is how many hours you must hold before the position has paid back entry and exit. Below that, a positive APR is still a loss.

Gross funding APR Taker in / out Maker in / out
5% 333h (13d) 88h (3d)
10% 166h (6d) 44h
20% 83h (3d) 22h
50% 33h 9h