Funding arb · Price arb /

DYM

all DYM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Hyperliquid−0.212%7-day average −0.028% · you buy dearer than you sell

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

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 4 days (all we have)+0.246%+$25 · spread now −0.212%, 7d avg −0.028%

Together, before fees+0.276%+ Points / potential airdropHyperliquid: Season 2 · farm board+$28 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 0.184% cheaper against Hyperliquid than usual: you would sell low and buy high, −$18 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	Hyperliquid DYM	0.01840	0.0100	pay 0.0013% / 1h	6m 05s	$370K	$232K	3x
Short	Bybit DYMUSDT	0.01836	0.0100	get 0.0050% / 4h	6m 05s	$779K	$473K	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 −0.212%Rate

Funding earned: $0
Price spread: −0.212% → −0.028%: −$18.36
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$38.36
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 14 min ago; Bybit: live order book, 49 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 Hyperliquid live order book, 14 min ago	5.39 bp	32.6 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 49 min ago	8.15 bp	140.1 bp −$140	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
dYdX DYM-USD	+0.0009%	1h	0.01840	+0.008%	$252	$5	5x	as long as short
Injective DYM/USDC PERP	+0.0033%	1h	0.01718	−6.630%	$237	$12K	5.5x	as long as short
Hyperliquid DYMlong	+0.0100%	1h	0.01840	long leg	$370K	$232K	3x
Aster DYMUSDT	+0.0100%	4h	0.01841	+0.061%	$76K	$5K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01839	−0.053%	$2.4M	$4.5M	10x	as long as short
Bybit DYMUSDTshort	+0.0100%	4h	0.01836	−0.212%	$779K	$473K	25x
Gate DYM_USDT	+0.0100%	4h	0.01840	0.000%	$146K	$90K	25x	as long as short
MEXC DYM_USDT	+0.0100%	4h	0.01839	−0.054%	$1.2M	$581K	20x	as long as short
Bitget DYMUSDT	+0.0100%	4h	0.01840	0.000%	$405K	$150K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01839	−0.054%	—	$14.1M	—	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	0.01835	−0.262%	$9K	$5K	—	as long as short
Extended DYM-USD	+0.0104%	1h	0.01839	−0.037%	$1K	$291K	5x	as long as short
KuCoin DYMUSDTM	+0.0288%	4h	0.01843	+0.163%	$432K	$140K	25x	as long as short
Kraken Futures PF_DYMUSD	+0.3692%	1h	0.01849	+0.486%	$15K	$4K	10x	as long as short