Funding arb · Price arb /

AZTEC

all AZTEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.046%

Price spread now: Hyperliquid against Bybit+0.178%7-day average +0.146% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1341.343% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.638%+$64 on $10k

Price spread, last 7 days−0.095%−$10 · spread now +0.178%, 7d avg +0.146%

Together, before fees+0.542%+ Points / potential airdropHyperliquid: Season 2 · farm board+$54 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.033% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.146%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AZTECUSDT	0.01627	0.0100	pay 0.0050% / 4h	37m 08s	$1.5M	$1.3M	25x
Short	Hyperliquid AZTEC	0.01630	0.0100	get 0.0013% / 1h	37m 08s	$1.1M	$1.2M	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

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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 +0.178%Rate

Funding earned: $0
Price spread: +0.178% → +0.146%: $3.27
Slippage, 4 orders: −$114.32
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$131.05
Costs to cover: 1.343%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Hyperliquid: live order book, 3 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, 4 min ago	6.14 bp	38.5 bp −$38	320.9 bp −$3,209	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	2.15 bp	29.2 bp −$29	doesn't fit	doesn't fit	doesn't fit

AZTEC 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
BingX AZTEC-USDT	+0.0070%	4h	0.01629	+0.098%	—	$1.6M	—	as long as short
Lighter AZTEC	+0.0096%	1h	0.01626	−0.086%	$76K	$97K	3x	as long as short
Hyperliquid AZTECshort	+0.0100%	1h	0.01630	+0.178%	$1.1M	$1.2M	3x
Bybit AZTECUSDTlong	+0.0100%	4h	0.01627	long leg	$1.5M	$1.3M	25x
Gate AZTEC_USDT	+0.0100%	8h	0.01627	−0.025%	$297K	$428K	25x	as long as short
Bitget AZTECUSDT	+0.0100%	4h	0.01628	+0.037%	$353K	$282K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01629	+0.086%	$65K	$81K	—	as long as short
OKX AZTEC-USDT-SWAP	+0.0107%	4h	0.01632	+0.283%	$364K	$883K	20x	as long as short
Aster AZTECUSDT	+0.0238%	4h	0.01628	+0.016%	$7K	$21K	5x	as long as short
Extended AZTEC-USD	+0.0240%	1h	0.01628	+0.051%	$57K	$383K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AZTEC_USDT	+0.0240%	4h	0.01626	−0.086%	$218K	$109K	20x	as long as short
Binance AZTECUSDT	+0.0241%	4h	0.01628	+0.032%	$1.9M	$4.1M	25x	as long as short
BloFin AZTEC-USDT	+0.0273%	4h	0.01629	+0.098%	$97K	$28K	25x	as long as short
KuCoin AZTECUSDTM	+0.0560%	4h	0.01630	+0.160%	$286K	$287K	20x	as long as short