Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0187%/8h= +20.4% APRpaid last 24h +0.085%

Price spread now: Hyperliquid against Bybit+0.154%7-day average +0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$380.385% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.258%+$26 on $10k

Price spread, last 7 days−0.101%−$10 · spread now +0.154%, 7d avg +0.118%

Together, before fees+0.157%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hyperliquid is 0.036% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.118%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ARBUSDT	0.2212	−0.0087	get 0.0087% / 8h	6h 56m	$57.5M	$127.8M	50x
Short	Hyperliquid ARB	0.2215	0.0100	get 0.0013% / 1h	56m 50s	$39.2M	$49.4M	10x

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 +0.154%Rate

Funding earned: $39.21
Price spread: +0.154% → +0.118%: $3.58
Slippage, 4 orders: −$18.45
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $4.33
Costs to cover: 0.385%
Break-even: 6.2 days

Slippage from Bybit: live order book, 2 min ago; Hyperliquid: live order book, 7 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, 2 min ago	0.22 bp	10.9 bp −$11	23.5 bp −$235	57.8 bp −$5,777	doesn't fit
Sell Hyperliquid live order book, 7 min ago	1.55 bp	9.3 bp −$9	doesn't fit	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1692%	1h	0.2220	+0.366%	$40K	$372K	12x	as long as short
SoDEX ARB-USD	−0.0264%	1h	0.2225	+0.570%	$10K	$2.5M	5x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0199%	1h	0.2225	+0.606%	$24K	$34K	25x	as long as short
Variational Omni ARB	−0.0196%	8h	0.2245	+1.490%	$1.9M	$2.8M	—	as long as short
01 Exchange ARBUSD	−0.0184%	1h	0.2228	+0.732%	$7K	$2K	10x	as long as short
MEXC ARB_USDT	−0.0106%	8h	0.2214	+0.077%	$38.2M	$58.5M	200x	as long as short
OKX ARB-USDT-SWAP	−0.0106%	8h	0.2212	+0.023%	$22.5M	$155.1M	50x	as long as short
Bybit ARBUSDTlong	−0.0087%	8h	0.2212	long leg	$57.5M	$127.8M	50x
Orderly PERP_ARB_USDC	−0.0054%	8h	0.2226	+0.637%	$13K	$387K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2229	+0.755%	$66K	$4K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2228	+0.706%	$32K	—	150x	as long as short
Extended ARB-USD	+0.0008%	1h	0.2215	+0.127%	$353K	$2.5M	25x	as long as short
Binance ARBUSDT	+0.0009%	8h	0.2214	+0.086%	$65.4M	$314.2M	75x	as long as short
BloFin ARB-USDT	+0.0036%	8h	0.2223	+0.479%	$3.2M	$2.8M	75x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2226	+0.637%	$141K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2216	+0.172%	$1.3M	$7.2M	15x	as long as short
Hyperliquid ARBshort	+0.0100%	1h	0.2215	+0.154%	$39.2M	$49.4M	10x
Aster ARBUSDT	+0.0100%	8h	0.2218	+0.266%	$692K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2229	+0.786%	$44K	$186K	10x	as long as short
Gate ARB_USDT	+0.0100%	8h	0.2215	+0.140%	$5.4M	$19.4M	60x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2219	+0.321%	$19.3M	$15.8M	75x	as long as short
Bitget ARBUSDT	+0.0100%	8h	0.2213	+0.050%	$21.1M	$36.1M	50x	as long as short
BingX ARB-USDT	+0.0100%	8h	0.2214	+0.086%	—	$54.4M	—	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2236	+1.108%	$40K	$460K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2238	+1.180%	$485K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2237	+1.135%	$121K	$296K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2229	+0.769%	$70K	$2.0M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2225	+0.592%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2225	+0.579%	$289K	$988K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2226	+0.637%	$5.1M	$12.9M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0154% / S −0.0014%	1h	0.2227	+0.691%	$858K	—	150x	as long as short
Coinbase International ARB-PERP-INTX	+0.0240%	1h	0.2235	+1.044%	$504K	$2.2M	50x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2226	+0.637%	$2K	$695	20x	as long as short
Kraken Futures PF_ARBUSD	+0.0310%	1h	0.2226	+0.645%	$1.1M	$4.8M	50x	as long as short
Backpack ARB_USDC_PERP	+0.0465%	1h	0.2223	+0.502%	$1.0M	$2.9M	20x	as long as short
RISEx ARB/USDC	+0.0466%	1h	0.2232	+0.902%	$506K	$2.6M	10x	as long as short