FricZero
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Delta-Neutral Arbitrage Strategy

Funding Rates Calculator

Measure the true net yield of harvesting funding rates without taking on price risk. Automatically deducts entry and exit fees across Hyperliquid, GMX v2, and Bybit.

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Comparison for ETH

Real-Time Rates
Calculating funding yield...
Operational Friction Structure

How Do Fees Vary Across Platforms?

Each protocol applies different execution fees. Deducting these percentages at position entry and exit is critical to evaluate real performance:

HyperliquidLayer 1 DEX

0.025% Taker Fee on entry and 0.025% on exit. Features the lowest entry friction in the DeFi derivatives industry.

Total Friction:0.050%
GMX v2On-Chain DEX

0.05% Taker Fee on opening and 0.05% on closing. Utilizes balanced, low-risk GM liquidity pools.

Total Friction:0.100%
BybitLeading CEX

Standard 0.055% Taker Fee per leg (VIP 0). Offers deep liquidity and lower slippage risk on large order executions.

Total Friction:0.110%

Frequently Asked Questions about Funding Rates

Key concepts to master price-risk-free funding rate arbitrage.

What is the Funding Rate in crypto?↓
The Funding Rate is a periodic payment between perpetual contract traders to keep the contract price aligned with the Spot price. When the rate is positive, long positions pay short positions. When negative, shorts pay longs.
How does a Delta-Neutral or Cash and Carry strategy work?↓
It involves buying an asset in the Spot market (e.g., 1 ETH) and simultaneously opening an equivalent Short position in the perpetuals market. Price risk is neutralized (Delta 0) while passively harvesting funding rates.
Why does the calculator deduct entry and exit fees?↓
Opening and closing positions on DEXs or CEXs incurs transaction fees (Taker Fees). Over short holding periods or small position sizes, these fees can consume the entire profit generated by funding rates. Our calculator deducts these fees to display true net profit.
What risks are involved in harvesting Funding Rates?↓
Primary risks include: 1) Sudden rate reversals to negative territory, 2) Execution slippage between spot and perp legs, 3) Liquidation risk on the short leg if leverage is too high, and 4) Smart contract risk on DEXs or counterparty risk on CEXs.

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