Funding arb · Price arb /

BIGTIME

all BIGTIME markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Hyperliquid−0.048%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1031.026% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.048%, 7d avg +0.039%

Together, before fees+0.070%+ Points / potential airdropHyperliquid: Season 2 · farm board+$7 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 0.086% cheaper against Hyperliquid than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BIGTIME	0.008398	0.0100	pay 0.0013% / 1h	44m 54s	$128K	$96K	3x
Short	Bybit BIGTIMEUSDT	0.008394	0.0100	get 0.0050% / 4h	3h 44m	$670K	$574K	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 −0.048%Rate

Funding earned: $0
Price spread: −0.048% → +0.039%: −$8.64
Slippage, 4 orders: −$82.64
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$111.28
Costs to cover: 1.026%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Bybit: live order book, 20 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	1.79 bp	20.1 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 20 min ago	2.99 bp	35.1 bp −$35	335.6 bp −$3,356	doesn't fit	doesn't fit

BIGTIME on 12 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
Kraken Futures PF_BIGTIMEUSD	−0.0293%	1h	0.008386	−0.144%	$7K	$4K	10x	as long as short
BloFin BIGTIME-USDT	+0.0076%	4h	0.008385	−0.155%	$94K	$10K	50x	as long as short
Hyperliquid BIGTIMElong	+0.0100%	1h	0.008398	long leg	$128K	$96K	3x
Binance BIGTIMEUSDT	+0.0100%	4h	0.008391	−0.081%	$1.8M	$2.2M	50x	as long as short
Bybit BIGTIMEUSDTshort	+0.0100%	4h	0.008394	−0.048%	$670K	$574K	25x
OKX BIGTIME-USDT-SWAP	+0.0100%	4h	0.008381	−0.202%	$445K	$408K	10x	as long as short
Gate BIGTIME_USDT	+0.0100%	4h	0.008380	−0.214%	$60K	$30K	50x	as long as short
MEXC BIGTIME_USDT	+0.0100%	4h	0.008392	−0.071%	$462K	$194K	125x	as long as short
KuCoin BIGTIMEUSDTM	+0.0100%	4h	0.008379	−0.226%	$246K	$30K	20x	as long as short
Bitget BIGTIMEUSDT	+0.0100%	4h	0.008398	0.000%	$601K	$236K	50x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BIGTIME-USDT	+0.0100%	4h	0.008386	−0.143%	—	$2.4M	—	as long as short
Variational Omni BIGTIME	+0.0100%	4h	0.008384	−0.164%	$10K	$1K	—	as long as short