Funding you earn now, next payment 08:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.084%
Price spread now: Bybit against Hyperliquid−0.253%7-day average −0.197% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.348%−$35 on $10k
+Price spread, last 4 days (all we have)+0.120%+$12 · spread now −0.253%, 7d avg −0.197%
=Together, before fees−0.229%+ Points / potential airdropHyperliquid: Season 2 · farm board−$23 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.057% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.197%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid GMX | 8.0484 | 0.0216 | pay 0.0027% / 1h | 43m 24s | $892K | $140K | 3x |
| Short | Bybit GMXUSDT | 8.0280 | 0.0100 | get 0.0100% / 8h | 43m 24s | $821K | $238K | 20x |
Hyperliquid GMX
Bybit GMXUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$24.41
- Price spread: −0.253% → −0.197%
- −$5.68
- 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
- −$50.09
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 17 min ago; Bybit: live order book, 57 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, 17 min ago | 2.87 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 57 min ago | 4.39 bp | 52.9 bp −$53 | 184.8 bp −$1,848 | doesn't fit | doesn't fit |
GMX 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective GMX/USDC PERP | −0.5000% | 1h | 7.5600 | −6.068% | $4K | $3K | 5.5x | as long as short |
| Binance GMXUSDT | +0.0100% | 8h | 8.0330 | −0.191% | $2.3M | $1.7M | 50x | as long as short |
| Bybit GMXUSDTshort | +0.0100% | 8h | 8.0280 | −0.253% | $821K | $238K | 20x | |
| OKX GMX-USDT-SWAP | +0.0100% | 8h | 8.0270 | −0.266% | $293K | $381K | 20x | as long as short |
| Gate GMX_USDT | +0.0100% | 8h | 8.0170 | −0.390% | $195K | $66K | 33x | as long as short |
| MEXC GMX_USDT | +0.0100% | 8h | 8.0300 | −0.229% | $375K | $168K | 125x | as long as short |
| KuCoin GMXUSDTM | +0.0100% | 8h | 8.0100 | −0.477% | $160K | $57K | 30x | as long as short |
| Bitget GMXUSDT | +0.0100% | 8h | 8.0310 | −0.216% | $414K | $187K | 50x | as long as short |
| BingX GMX-USDT | +0.0100% | 8h | 8.0340 | −0.179% | — | $2.3M | — | as long as short |
| Variational Omni GMX | +0.0100% | 8h | 8.0324 | −0.198% | $21K | $53K | — | as long as short |
Injective GMX/USDC PERP
Binance GMXUSDT
OKX GMX-USDT-SWAP
Gate GMX_USDT
MEXC GMX_USDT
KuCoin GMXUSDTM
Bitget GMXUSDT
BingX GMX-USDT
Variational Omni GMXShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin GMX-USDT | +0.0112% | 8h | 8.0290 | −0.241% | $107K | $27K | 50x | as long as short |
| Hyperliquid GMXlong | +0.0216% | 1h | 8.0484 | long leg | $892K | $140K | 3x | |
| Lighter GMX | +0.0344% | 1h | 8.0453 | −0.039% | $76K | $89K | 5x | as long as short |
| Kraken Futures PF_GMXUSD | +0.0423% | 1h | 8.0264 | −0.273% | $33K | $463 | 10x | as long as short |
| GMX GMX/USD [GMX-USDC] | L +0.0455% / S −0.0142% | 1h | 8.0282 | −0.251% | $394K | — | 100x | as long as short |
BloFin GMX-USDT
Lighter GMX
Kraken Futures PF_GMXUSD
GMX GMX/USD [GMX-USDC]