Funding arb · Price arb /

GRIFFAIN

all GRIFFAIN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0374%/8h= +41.0% APRpaid last 24h +0.015%

Price spread now: Hyperliquid against Bybit+0.110%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$209as in the Funding arb table

Net, price: spread back to 7d avg − costs−$212as in the Price arb table

costs, in and out, $10k−$2152.154% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 7 days−0.021%−$2 · spread now +0.110%, 7d avg +0.075%

Together, before fees+0.046%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Hyperliquid is 0.035% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.075%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.067% in total (about 3.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GRIFFAINUSDT	0.01541	0.0100	pay 0.0050% / 4h	34m 45s	$726K	$427K	25x
Short	Hyperliquid GRIFFAIN	0.01543	0.0474	get 0.0059% / 1h	34m 45s	$1.2M	$99K	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 +0.110%Rate

Funding earned: $78.6
Price spread: +0.110% → +0.075%: $3.49
Slippage, 4 orders: −$195.41
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$133.31
Costs to cover: 2.154%
Break-even: 18.9 days

Slippage from Bybit: live order book, 40 min ago; Hyperliquid: live order book, 6 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, 40 min ago	6.79 bp	62.4 bp −$62	766.6 bp −$7,666	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	11.32 bp	44.1 bp −$44	doesn't fit	doesn't fit	doesn't fit

GRIFFAIN 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
Reya GRIFFAINRUSDPERP	0.0000%	1h	0.01177	−23.613%	—	—	—	as long as short
Bybit GRIFFAINUSDTlong	+0.0100%	4h	0.01541	long leg	$726K	$427K	25x
Gate GRIFFAIN_USDT	+0.0100%	4h	0.01541	+0.019%	$423K	$80K	10x	as long as short
KuCoin GRIFFAINUSDTM	+0.0100%	4h	0.01540	−0.058%	$485K	$50K	20x	as long as short
Hyperliquid GRIFFAINshort	+0.0474%	1h	0.01543	+0.110%	$1.2M	$99K	3x
BingX GRIFFAIN-USDT	+0.0830%	4h	0.01540	−0.091%	—	$6.6M	—	as long as short
BloFin GRIFFAIN-USDT	+0.0833%	4h	0.01539	−0.110%	$273K	$12K	20x	as long as short
MEXC GRIFFAIN_USDT	+0.0866%	4h	0.01538	−0.188%	$311K	$113K	100x	as long as short
Binance GRIFFAINUSDT	+0.0867%	4h	0.01539	−0.121%	$4.1M	$1.7M	20x	as long as short
Bitget GRIFFAINUSDT	+0.0882%	4h	0.01540	−0.058%	$359K	$254K	10x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GRIFFAINUSDT	+0.0923%	4h	0.01539	−0.117%	$15K	$35K	5x	as long as short
Kraken Futures PF_GRIFFAINUSD	+1.5676%	1h	0.01550	+0.619%	$17K	$28K	10x	as long as short