Funding arb · Price arb /

0G

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0488%/8h= −53.4% APRpaid last 24h −0.182%

Price spread now: Bybit against Hyperliquid−0.268%7-day average −0.221% · you buy dearer than you sell

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$980.977% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.637%−$64 on $10k

Price spread, last 7 days−0.007%−$1 · spread now −0.268%, 7d avg −0.221%

Together, before fees−0.644%+ Points / potential airdropHyperliquid: Season 2 · farm board−$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Bybit is 0.047% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.221%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid 0G	0.2311	0.0588	pay 0.0073% / 1h	41m 48s	$2.4M	$519K	3x
Short	Bybit 0GUSDT	0.2305	0.0100	get 0.0050% / 4h	1h 41m	$2.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee BybitbpOrdersPrice spread, now −0.268%Rate

Funding earned: −$102.43
Price spread: −0.268% → −0.221%: −$4.72
Slippage, 4 orders: −$77.72
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$204.87
Costs to cover: 0.977%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Bybit: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 9 min ago	1.30 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	6.53 bp	29.0 bp −$29	168.7 bp −$1,687	doesn't fit	doesn't fit

0G on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX 0G-USDT	−0.0644%	4h	0.2307	−0.182%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2304	−0.308%	$2K	—	100x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2306	−0.229%	$23K	$22K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2306	−0.225%	$6.7M	$8.9M	50x	as long as short
Bybit 0GUSDTshort	+0.0100%	4h	0.2305	−0.268%	$2.3M	$2.3M	50x
OKX 0G-USDT-SWAP	+0.0100%	4h	0.2309	−0.095%	$883K	$2.3M	20x	as long as short
Gate 0G_USDT	+0.0100%	8h	0.2301	−0.441%	$592K	$162K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2306	−0.225%	$2.0M	$202K	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2307	−0.182%	$1.8M	$656K	50x	as long as short
Backpack 0G_USDC_PERP	+0.0100%	1h	0.2307	−0.182%	$37K	$48K	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 0G	+0.0100%	4h	0.2299	−0.516%	$12K	$10K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2303	−0.342%	$18K	$630K	50x	as long as short
BloFin 0G-USDT	+0.0120%	4h	0.2303	−0.355%	$326K	$9K	50x	as long as short
KuCoin 0GUSDTM	+0.0126%	4h	0.2308	−0.121%	$2.4M	$2.6M	50x	as long as short
Hyperliquid 0Glong	+0.0588%	1h	0.2311	long leg	$2.4M	$519K	3x
Lighter 0G	+0.0776%	1h	0.2309	−0.095%	$44K	$100K	3x	as long as short