⚠︎ Risk warning: leveraged derivatives on unregulated platforms — you can lose everything you deposit. Not investment advice.
Earning Scenarios: What Your Amount and Risk Appetite Face at Current Rates
Say you have 100 USDT and a risk appetite. This page shows the strategies that fit it — and for each, the one thing a tool can compute honestly: the deterministic side at current live rates, from verified fee schedules and official venue APIs, live in your browser. Let's be precise about what this is: scenarios under your stated assumptions, not an earnings promise and not advice. No tool can tell you how to "maximize profit" on leveraged derivatives, because the dominant variable — what markets do next — is exactly the thing nobody can compute for you. Where a number is unknowable (vault returns, points value, future funding), this page says so instead of guessing. Not sure which strategy you even mean? Start with the strategy explorer.
Positions constructed so price moves cancel out. Execution, liquidation-on-one-leg, and regime risk remain — market-neutral is not risk-free.
Funding arbitrage (cash-and-carry)
Hold the asset on spot and short an equal amount via a perp: price moves cancel out, and while funding is positive the crowded long side pays you every funding interval on the full position size.
On $100 split across both legs (spot long + 1x perp short ≈ $50 notional per side), the short leg would currently collect or pay per day — BTC, at each venue’s live rate:
| Venue | Current rate (hourly-equiv.) | Carry / day on your amount | Basis |
|---|---|---|---|
| Hyperliquid | … | — | |
| dYdX | … | — | |
| Aster | … | — | |
| Lighter | … | — | |
| GMX | — | — | different model (funding + borrowing fee) — carry does not reduce to one rate |
A positive number is what the short side collects while the current rate holds — funding reprices every interval, and negative means the position pays. Entry/exit fees on both legs are not included here; the cost table below computes them. This is a labeled snapshot, not a forecast or a return estimate.
Risk management
This strategy IS the counter-position construct: the spot leg hedges the perp short. Keep the short leg overcapitalized (it can be liquidated alone), and treat a funding regime flip as the exit signal, not a surprise.
Verified offerings: Hyperliquid · dYdX · Aster · Lighter · GMX — full risk profile in the strategy explorer.
These are the strategies in your selected exposure class with what’s computable at current rates — not a recommendation, not a ranking, and not a projection. The dominant variable in every outcome here is the one nobody can compute: what markets do next.
The cost side: which venue is cheapest for your trading pattern?
Whatever the strategy, fees are the deterministic drag on it. Enter how you actually trade, and this ranks the covered venues by estimated monthly fee cost — computed strictly from the verified fee schedules. Where the same trading pattern costs the least is a fact; what it will earn is not.
| Venue | Est. monthly fee cost | How it was computed | Caveat |
|---|---|---|---|
| Lighter | $0.00 | Standard account (zero-fee) — Premium rates differ | Standard’s trade-off is latency (300ms taker) and API rate limits, not hidden fees or position caps; LIT is live (staking discounts the Premium grid) and the points program remains a separate, conversion-undocumented track. |
| Aster | $2.00 | base-tier rates | 0% maker means maker-heavy flow pays nothing — and generates no referral commission. |
| Hyperliquid | $2.88 | 4% referral discount applied | — |
| dYdX | $3.00 | fetching live tier table… | Schedule is governance-set — thresholds and rates can change by vote. |
| GMX | not computable | Not maker/taker-comparable: total cost depends on pool imbalance, holding time (borrowing), and trade size (price impact) — see the fees page for the verified components. | Borrowing accrues while the position is open — a holding cost the flat rates above don’t capture. |
Trading-fee cost only, at verified rates under your stated assumptions — not total cost (spread and slippage apply everywhere and are excluded), and not a profit estimate of any kind. Where live data is used, it's labeled in the row; everything else is the verified static schedule.
Funding carry at current live rates — BTC
Per-day funding on an open BTC position of your stated size, at each venue's current rate fetched live from its official API — normalized using each venue's verified rate period. This is a snapshot while these rates hold: funding changes every interval with positioning, and this says nothing about price risk. Positive numbers: longs pay, shorts receive.
| Venue | Current rate (hourly-equiv.) | Carry / day | Basis |
|---|---|---|---|
| Hyperliquid | … | — | |
| dYdX | … | — | |
| Aster | … | — | |
| Lighter | … | — | |
| GMX | — | — | no public funding endpoint verified |
What the ranking leaves out — deliberately
Spread and slippage apply on every venue and are excluded — they depend on the market and your size. Funding is now computed live in the carry panel above for the four venues whose rate semantics are verified — Hyperliquid, dYdX, and Lighter hourly, Aster per its documented per-symbol interval — always as a labeled snapshot of current rates rather than a forecast. The dYdX fee row goes further: when the live tier query succeeds, it uses the chain's own governance-set tier table, matched to your stated volume (and floored at tier 3 with the referral toggle). Vault yields and points are excluded because their future value is unknowable — the earning comparison covers what each venue offers there, verified facts only, and our earning guide covers the risks each carries. GMX shows "not computable" because its pool-based cost model (position fee + borrowing over time + price impact) honestly doesn't reduce to the flat rates this calculator uses — its fees page explains the real components.
Live funding context
Whatever venue is cheapest on fees, funding is the cost (or income) that moves — here's the current state on the venues with verified public APIs:
| Venue | BTC funding (live, native period) | ≈ per day on $1,000 | What the number is |
|---|---|---|---|
| Hyperliquid | … | … | |
| dYdX | … | … | |
| Aster | … | … | |
| Lighter | … | … | |
| GMX | — | — | No public funding endpoint verified — different fee model (borrowing + funding); see the GMX fees page. |
Fetching from each venue’s official public API in your browser… The raw column shows each venue's native reporting period (hourly on Hyperliquid, dYdX, and Lighter; per-interval on Aster). The per-day column normalizes them using each venue's verified period — it's a snapshot of the current rate held for a day, not a forecast. Positive = longs pay shorts.
Rates come from our verified per-venue fee pages (each linked row carries its verification date); fee schedules change, and tiers above base only lower the computed numbers. Some linked pages contain disclosed referral links; see our methodology. Perpetual futures are high-risk leveraged instruments — read the risk disclosure before trading anywhere, cheapest venue or not.