Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0257%/8h= −28.2% APRpaid last 24h −0.062%

Price spread now: Bybit against Hyperliquid−0.164%7-day average −0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.230%−$23 on $10k

Price spread, last 7 days+0.120%+$12 · spread now −0.164%, 7d avg −0.116%

Together, before fees−0.110%+ Points / potential airdropHyperliquid: Season 2 · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.048% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.116%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ARB	0.2260	0.0100	pay 0.0013% / 1h	3m 03s	$40.4M	$48.4M	10x
Short	Bybit ARBUSDT	0.2256	−0.0157	pay 0.0157% / 8h	1h 03m	$58.4M	$130.9M	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 −0.164%Rate

Funding earned: −$54
Price spread: −0.164% → −0.116%: −$4.78
Slippage, 4 orders: −$17.37
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$96.15
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 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, 10 min ago	0.89 bp	8.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.22 bp	9.6 bp −$10	16.4 bp −$164	42.3 bp −$4,231	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	−0.1770%	1h	0.2250	−0.438%	$41K	$372K	12x	as long as short
01 Exchange ARBUSD	−0.0232%	1h	0.2256	−0.181%	$7K	$2K	10x	as long as short
SoDEX ARB-USD	−0.0189%	1h	0.2256	−0.150%	$4K	$2.7M	5x	as long as short
Variational Omni ARB	−0.0176%	8h	0.2250	−0.440%	$1.9M	$2.7M	—	as long as short
Bybit ARBUSDTshort	−0.0157%	8h	0.2256	−0.164%	$58.4M	$130.9M	50x
Deribit ARB_USDC-PERPETUAL	−0.0149%	1h	0.2257	−0.124%	$26K	$32K	25x	as long as short
Polymarket Perps ARB-USD	−0.0129%	1h	0.2257	−0.119%	$67K	$2.0M	10x	as long as short
OKX ARB-USDT-SWAP	−0.0099%	8h	0.2256	−0.181%	$22.6M	$160.2M	50x	as long as short
MEXC ARB_USDT	−0.0098%	8h	0.2256	−0.186%	$37.4M	$63.1M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0040%	8h	0.2256	−0.173%	$11K	$395K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ARBUSDT	−0.0001%	8h	0.2257	−0.149%	$64.8M	$314.4M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2262	+0.079%	$67K	$4K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2256	−0.176%	$358K	$2.3M	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2258	−0.080%	$56K	—	150x	as long as short
Gate ARB_USDT	+0.0041%	8h	0.2257	−0.137%	$5.5M	$20.8M	60x	as long as short
BingX ARB-USDT	+0.0066%	8h	0.2257	−0.146%	—	$53.3M	—	as long as short
Bitget ARBUSDT	+0.0069%	8h	0.2256	−0.173%	$21.3M	$36.9M	50x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2258	−0.073%	$148K	$12K	3x	as long as short
Kraken Futures PF_ARBUSD	+0.0084%	1h	0.2258	−0.073%	$1.1M	$5.1M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2258	−0.062%	$1.4M	$7.4M	15x	as long as short
Hyperliquid ARBlong	+0.0100%	1h	0.2260	long leg	$40.4M	$48.4M	10x
Aster ARBUSDT	+0.0100%	8h	0.2258	−0.086%	$703K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2261	+0.037%	$45K	$192K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2258	−0.093%	$20.8M	$16.2M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2253	−0.285%	$40K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2255	−0.224%	$477K	$3.8M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2250	−0.438%	$121K	$294K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2259	−0.040%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2258	−0.084%	$279K	$1.1M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2257	−0.128%	$5.2M	$13.3M	50x	as long as short
BloFin ARB-USDT	+0.0120%	8h	0.2256	−0.155%	$3.0M	$3.3M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0264%	1h	0.2259	−0.040%	$509K	$2.3M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0274% / S −0.0156%	1h	0.2258	−0.077%	$848K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2257	−0.129%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0363%	1h	0.2259	−0.024%	$501K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0648%	1h	0.2260	+0.022%	$1.1M	$2.7M	20x	as long as short