Funding arb · Price arb /

AIXBT

all AIXBT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0149%/8h= +16.3% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Bybit+0.147%7-day average +0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$860.859% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now +0.147%, 7d avg +0.112%

Together, before fees+0.017%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hyperliquid is 0.035% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.112%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AIXBTUSDT	0.02247	−0.0049	get 0.0025% / 4h	2h 55m	$1.2M	$989K	25x
Short	Hyperliquid AIXBT	0.02250	0.0100	get 0.0013% / 1h	55m 51s	$382K	$192K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. 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 BybitbpFee HyperliquidbpOrdersPrice spread, now +0.147%Rate

Funding earned: $31.34
Price spread: +0.147% → +0.112%: $3.5
Slippage, 4 orders: −$65.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$51.02
Costs to cover: 0.859%
Break-even: 18.4 days

Slippage from Bybit: live order book, 5 min ago; Hyperliquid: live order book, 54 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 Bybit live order book, 5 min ago	8.82 bp	28.4 bp −$28	558.0 bp −$5,580	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 54 min ago	1.32 bp	21.3 bp −$21	doesn't fit	doesn't fit	doesn't fit

AIXBT on 14 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
Kraken Futures PF_AIXBTUSD	−0.1576%	1h	0.02246	−0.052%	$18K	$7K	10x	as long as short
Variational Omni AIXBT	−0.0143%	4h	0.02246	−0.060%	$98K	$11K	—	as long as short
Bybit AIXBTUSDTlong	−0.0049%	4h	0.02247	long leg	$1.2M	$989K	25x
BloFin AIXBT-USDT	+0.0069%	4h	0.02272	+1.113%	$120K	$71K	50x	as long as short
Hyperliquid AIXBTshort	+0.0100%	1h	0.02250	+0.147%	$382K	$192K	3x
Binance AIXBTUSDT	+0.0100%	4h	0.02248	+0.048%	$2.3M	$3.1M	50x	as long as short
OKX AIXBT-USDT-SWAP	+0.0100%	4h	0.02245	−0.089%	$457K	$1.5M	20x	as long as short
Gate AIXBT_USDT	+0.0100%	4h	0.02250	+0.134%	$199K	$99K	25x	as long as short
MEXC AIXBT_USDT	+0.0100%	4h	0.02250	+0.134%	$436K	$194K	100x	as long as short
KuCoin AIXBTUSDTM	+0.0100%	4h	0.02251	+0.178%	$1.2M	$1.4M	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AIXBTUSDT	+0.0100%	4h	0.02251	+0.178%	$630K	$481K	20x	as long as short
BingX AIXBT-USDT	+0.0100%	4h	0.02248	+0.045%	—	$6.6M	—	as long as short
GMX AIXBT/USD [ETH-USDC]	L +0.0269% / S −0.0486%	1h	0.02249	+0.085%	$5K	—	100x	as long as short
Reya AIXBTRUSDPERP	+0.0372%	1h	0.02248	+0.029%	—	—	—	as long as short