Each sleeve holds a long leg and shorts the same notional of that asset's perp. Price moves cancel out; the position earns the funding rate shorts receive. The calculator splits your capital between the long leg and the short margin at your chosen leverage — at 2x that is $10k long against $5k of margin — then prices it with live funding and the 1d / 7d / 30d trailing averages. Trust the 30d row: the current rate swings hourly.
Two sleeves, because the spot side should not sit dead. SOL is here for its native staking: around 5% on the long leg against roughly 2% on ETH, so the money hedging the short is also earning. HYPE keeps its side through a Pendle PT, which fixes the yield to a date. The default split is the one the $10k runs — the slider is there because that ratio came out of a backtest, and backtests get redone.
What the ratio does not fix: unstaking takes days on both legs (about 2 for SOL, 7 for native HYPE), while a rally can call for margin in minutes. Size the margin so you never have to unstake in a hurry.
| Horizon | Funding APR | Long legs | Net on capital | $ / year |
|---|---|---|---|---|
| current | 1.68% | 2.38% | 4.06% | $406 |
| 1d avg | 4.44% | 2.38% | 6.82% | $682 |
| 7d avg | 6.63% | 2.38% | 9.01% | $901 |
| 30d avg | 3.50% | 2.38% | 5.88% | $588 |
Click a venue to price that sleeve with it. New venues appear as the scanner starts covering them; averages fill in over their first days of data.
| # | Venue | 30d avg | 7d avg | current | negative hours, 30d |
|---|---|---|---|---|---|
| 1 | 8.94% | 14.25% | 10.95% | 14% | |
| 2 | 6.78% | 9.69% | 11.39% | 15% | |
| 3 | 6.57% | 10.95% | 10.95% | 17% | |
| 4 | 5.42% | 5.17% | 6.28% | 18% | |
| 5 | 5.34% | 8.81% | 10.51% | 20% | |
| 6 | 4.73% | 1.35% | 4.74% | 27% | |
| 7 | 4.36% | 2.03% | 3.46% | 26% | |
| 8 | 3.62% | 3.50% | 3.83% | 14% |