Funding arb · Price arb /

DYM

all DYM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Bybit+0.103%7-day average +0.028% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 4 days (all we have)−0.166%−$17 · spread now +0.103%, 7d avg +0.028%

Together, before fees−0.195%+ Points / potential airdropHyperliquid: Season 2 · farm board−$20 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 0.075% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit DYMUSDT	0.01845	0.0100	pay 0.0050% / 4h	1h 22m	$787K	$449K	25x
Short	Hyperliquid DYM	0.01847	0.0100	get 0.0013% / 1h	22m 41s	$369K	$239K	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

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 +0.103%Rate

Funding earned: $0
Price spread: +0.103% → +0.028%: $7.53
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$12.47
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 37 min ago; Hyperliquid: live order book, 7 min ago. Net counts fees only.

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, 37 min ago	2.72 bp	148.6 bp −$149	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	2.70 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

DYM 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
Injective DYM/USDC PERP	+0.0033%	1h	0.01718	−6.889%	$237	$12K	5.5x	as long as short
dYdX DYM-USD	+0.0080%	1h	0.01844	−0.080%	$253	$5	5x	as long as short
Hyperliquid DYMshort	+0.0100%	1h	0.01847	+0.103%	$369K	$239K	3x
Aster DYMUSDT	+0.0100%	4h	0.01848	+0.136%	$76K	$5K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01849	+0.191%	$2.4M	$4.4M	10x	as long as short
Bybit DYMUSDTlong	+0.0100%	4h	0.01845	long leg	$787K	$449K	25x
Gate DYM_USDT	+0.0100%	4h	0.01850	+0.266%	$146K	$94K	25x	as long as short
MEXC DYM_USDT	+0.0100%	4h	0.01848	+0.157%	$1.2M	$582K	20x	as long as short
Bitget DYMUSDT	+0.0100%	4h	0.01848	+0.157%	$408K	$157K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01847	+0.103%	—	$24.7M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DYM	+0.0100%	4h	0.01840	−0.297%	$9K	$5K	—	as long as short
Extended DYM-USD	+0.0104%	1h	0.01848	+0.160%	$2K	$288K	5x	as long as short
KuCoin DYMUSDTM	+0.0580%	4h	0.01845	−0.005%	$432K	$143K	25x	as long as short
Kraken Futures PF_DYMUSD	+0.3488%	1h	0.01855	+0.546%	$15K	$5K	10x	as long as short