Funding arb · Price arb /

AZTEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.046%

Price spread now: Bybit against Hyperliquid−0.198%7-day average −0.145% · you buy dearer than you sell

Net, funding: paid 7d − costs−$203as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1391.390% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.129%+$13 · spread now −0.198%, 7d avg −0.145%

Together, before fees−0.509%+ Points / potential airdropHyperliquid: Season 2 · farm board−$51 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: Bybit is 0.053% cheaper against Hyperliquid than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.145%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AZTEC	0.01619	0.0100	pay 0.0013% / 1h	42m 10s	$1.1M	$1.2M	3x
Short	Bybit AZTECUSDT	0.01615	0.0100	get 0.0050% / 4h	2h 42m	$1.5M	$1.3M	25x

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 −0.198%Rate

Funding earned: $0
Price spread: −0.198% → −0.145%: −$5.28
Slippage, 4 orders: −$119.04
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$144.32
Costs to cover: 1.390%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; Bybit: live order book, 4 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, 8 min ago	2.47 bp	14.9 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	6.19 bp	43.2 bp −$43	248.7 bp −$2,487	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	+0.0036%	4h	0.01617	−0.093%	—	$1.6M	—	as long as short
Lighter AZTEC	+0.0096%	1h	0.01615	−0.216%	$81K	$100K	3x	as long as short
BloFin AZTEC-USDT	+0.0096%	4h	0.01619	+0.031%	$98K	$23K	25x	as long as short
Hyperliquid AZTEClong	+0.0100%	1h	0.01619	long leg	$1.1M	$1.2M	3x
Aster AZTECUSDT	+0.0100%	4h	0.01616	−0.145%	$7K	$21K	5x	as long as short
Binance AZTECUSDT	+0.0100%	4h	0.01618	−0.034%	$1.9M	$4.1M	25x	as long as short
Bybit AZTECUSDTshort	+0.0100%	4h	0.01615	−0.198%	$1.5M	$1.3M	25x
OKX AZTEC-USDT-SWAP	+0.0100%	4h	0.01619	+0.031%	$363K	$891K	20x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01616	−0.154%	$295K	$428K	25x	as long as short
MEXC AZTEC_USDT	+0.0100%	4h	0.01617	−0.093%	$243K	$105K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AZTECUSDTM	+0.0100%	4h	0.01618	−0.031%	$283K	$288K	20x	as long as short
Bitget AZTECUSDT	+0.0100%	4h	0.01617	−0.093%	$358K	$277K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01616	−0.154%	$65K	$81K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01618	−0.039%	$57K	$387K	5x	as long as short