Funding arb · Price arb /

GALA

all GALA 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+0.048%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$700.704% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.085%+$9 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now +0.048%, 7d avg −0.019%

Together, before fees+0.038%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 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 0.066% dearer against Bybit than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GALAUSDT	0.002101	0.0100	pay 0.0100% / 8h	5h 17m	$6.1M	$6.4M	75x
Short	Hyperliquid GALA	0.002102	0.0100	get 0.0013% / 1h	17m 51s	$309K	$160K	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 +0.048%Rate

Funding earned: $0
Price spread: +0.048% → −0.019%: $6.64
Slippage, 4 orders: −$50.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$63.78
Costs to cover: 0.704%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Hyperliquid: live order book, 12 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, 5 min ago	2.38 bp	15.3 bp −$15	44.5 bp −$445	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 12 min ago	4.76 bp	21.0 bp −$21	doesn't fit	doesn't fit	doesn't fit

GALA on 15 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_GALAUSD	−0.0685%	1h	0.002101	+0.016%	$664K	$175K	25x	as long as short
KuCoin GALAUSDTM	−0.0097%	8h	0.002100	−0.048%	$1.7M	$5.6M	75x	as long as short
Injective GALA/USDC PERP	+0.0033%	1h	0.002110	+0.428%	$2K	$7K	5.5x	as long as short
BloFin GALA-USDT	+0.0090%	8h	0.002104	+0.143%	$310K	$70K	20x	as long as short
Hyperliquid GALAshort	+0.0100%	1h	0.002102	+0.048%	$309K	$160K	3x
Aster GALAUSDT	+0.0100%	8h	0.002102	+0.045%	$17K	$11K	5x	as long as short
Binance GALAUSDT	+0.0100%	8h	0.002102	+0.046%	$5.5M	$17.4M	75x	as long as short
Bybit GALAUSDTlong	+0.0100%	8h	0.002101	long leg	$6.1M	$6.4M	75x
OKX GALA-USDT-SWAP	+0.0100%	8h	0.002101	0.000%	$2.2M	$4.3M	50x	as long as short
Gate GALA_USDT	+0.0100%	8h	0.002102	+0.048%	$1.8M	$1.3M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC GALA_USDT	+0.0100%	8h	0.002102	+0.048%	$6.3M	$3.4M	125x	as long as short
Bitget GALAUSDT	+0.0100%	8h	0.002102	+0.048%	$2.2M	$1.2M	75x	as long as short
BingX GALA-USDT	+0.0100%	8h	0.002103	+0.095%	—	$11.1M	—	as long as short
Variational Omni GALA	+0.0100%	8h	0.002102	+0.053%	$26K	$21K	—	as long as short
Extended GALA-USD	+0.0104%	1h	0.002101	+0.017%	$3K	$145K	5x	as long as short