Funding you earn now, next payment 22:00 UTC−0.0217%/8h= −23.8% APRpaid last 24h 0.000%
Price spread now: Bybit against Hyperliquid−0.278%7-day average −0.117% · you buy dearer than you sell
Net, funding: paid 7d − costs−$61as in the Funding arb table
Net, price: spread back to 7d avg − costs−$75as in the Price arb table
costs, in and out, $10k−$580.584% of the position
Funding, last 7 days−0.024%−$2 on $10k
+Price spread, last 7 days+0.121%+$12 · spread now −0.278%, 7d avg −0.117%
=Together, before fees+0.097%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.161% cheaper against Hyperliquid than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.117%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.024% in total (about -1.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ALGO | 0.1124 | 0.0100 | pay 0.0013% / 1h | 17m 18s | $3.8M | $1.9M | 5x |
| Short | Bybit ALGOUSDT | 0.1121 | −0.0117 | pay 0.0117% / 8h | 2h 17m | $11.3M | $12.2M | 75x |
Hyperliquid ALGO
Bybit ALGOUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$45.6
- Price spread: −0.278% → −0.117%
- −$16.11
- Slippage, 4 orders
- −$38.42
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$120.13
- Costs to cover
- 0.584%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; Bybit: live order book, 1 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, 4 min ago | 1.33 bp | 17.0 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 0.89 bp | 14.4 bp −$14 | 37.9 bp −$379 | doesn't fit | doesn't fit |
ALGO on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ALGO_USDC-PERPETUAL | −0.0818% | 1h | 0.1122 | −0.225% | $102K | $50K | 25x | as long as short |
| Injective ALGO/USDC PERP | −0.0212% | 1h | 0.1115 | −0.839% | $830 | $175K | 12x | as long as short |
| Bybit ALGOUSDTshort | −0.0117% | 8h | 0.1121 | −0.278% | $11.3M | $12.2M | 75x | |
| Variational Omni ALGO | −0.0084% | 8h | 0.1123 | −0.128% | $65K | $10K | — | as long as short |
| Coinbase International ALGO-PERP-INTX | −0.0064% | 1h | 0.1124 | −0.020% | $62K | $332K | 50x | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1123 | −0.102% | $6K | — | 150x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0092% | 1h | 0.1123 | −0.150% | $842K | $1.2M | 50x | as long as short |
| Hyperliquid ALGOlong | +0.0100% | 1h | 0.1124 | long leg | $3.8M | $1.9M | 5x | |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1122 | −0.181% | $44K | $31K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1121 | −0.269% | $10.0M | $34.8M | 75x | as long as short |
Deribit ALGO_USDC-PERPETUAL
Injective ALGO/USDC PERP
Variational Omni ALGO
Coinbase International ALGO-PERP-INTX
gTrade (Gains Network) ALGO/USD
Kraken Futures PF_ALGOUSD
Aster ALGOUSDT
Binance ALGOUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1121 | −0.261% | $3.0M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1123 | −0.145% | $861K | $841K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1122 | −0.181% | $23.1M | $3.0M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1123 | −0.100% | $3.6M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1122 | −0.216% | $5.7M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1122 | −0.225% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1122 | −0.225% | $66K | $109K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1124 | −0.038% | $3.8M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1122 | −0.235% | $7K | $210K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1122 | −0.207% | $491K | $797K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0237% / S −0.0158% | 1h | 0.1124 | −0.076% | $5K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1372% | 1h | 0.1124 | −0.063% | $161K | $5K | 5x | as long as short |
OKX ALGO-USDT-SWAP
Gate ALGO_USDT
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
Phemex ALGOUSDT
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD