Funding you earn now, next payment 22:00 UTC+0.0053%/8h= +5.8% APRpaid last 24h −0.007%
Price spread now: Bybit against Backpack+0.044%45s7-day average −0.041% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$360.361% of the position
Funding, last 7 days+0.227%+$23 on $10k
+Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.044%, 7d avg −0.041%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.085% dearer against Backpack than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.041%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack HBAR_USDC_PERP | 0.09191 | 0.0047 | pay 0.0006% / 1h | 41m 22s | $31K | $101K | 15x |
| Short | Bybit HBARUSDT | 0.09195 | 0.0100 | get 0.0100% / 8h | 2h 41m | $32.9M | $37.0M | 75x |
Backpack HBAR_USDC_PERP
Bybit HBARUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Backpack. 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
- $11.12
- Price spread: +0.044% → −0.041%
- $8.47
- Slippage, 4 orders
- −$15.06
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$16.46
- Costs to cover
- 0.361%
- Break-even
- 17.4 days
Slippage from Backpack: live order book, 46 min ago; Bybit: live order book, 2 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 Backpack live order book, 46 min ago | 1.63 bp | 8.7 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 0.54 bp | 8.5 bp −$9 | 21.2 bp −$212 | 76.1 bp −$7,614 | doesn't fit |
HBAR on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin HBARUSDTM | −0.0038% | 8h | 0.09183 | −0.087% | $7.3M | $7.9M | 75x | as long as short |
| Gate HBAR_USDT | −0.0035% | 8h | 0.09193 | +0.022% | $2.4M | $3.5M | 75x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | 0.0000% | 1h | 0.09198 | +0.076% | $506K | $150K | 50x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09200 | +0.100% | $8K | — | 150x | as long as short |
| Backpack HBAR_USDC_PERPlong | +0.0047% | 1h | 0.09191 | long leg | $31K | $101K | 15x | |
| Extended HBAR-USD | +0.0048% | 1h | 0.09186 | −0.054% | $51K | $210K | 10x | as long as short |
| MEXC HBAR_USDT | +0.0051% | 8h | 0.09195 | +0.044% | $24.1M | $22.7M | 200x | as long as short |
| Binance HBARUSDT | +0.0052% | 8h | 0.09196 | +0.056% | $34.6M | $110.5M | 75x | as long as short |
| Variational Omni HBAR | +0.0052% | 8h | 0.09184 | −0.081% | $1.0M | $200K | — | as long as short |
| ApeX Omni HBARUSDT | +0.0060% | 1h | 0.09182 | −0.098% | $147K | $705K | 50x | as long as short |
KuCoin HBARUSDTM
Gate HBAR_USDT
Deribit HBAR_USDC-PERPETUAL
gTrade (Gains Network) HBAR/USD
Extended HBAR-USD
MEXC HBAR_USDT
Binance HBARUSDT
Variational Omni HBAR
ApeX Omni HBARUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International HBAR-PERP-INTX | +0.0072% | 1h | 0.09189 | −0.022% | $220K | $2.2M | 50x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0076% | 8h | 0.09195 | +0.044% | $2K | $18K | 10x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09187 | −0.044% | $564K | $590K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09201 | +0.113% | $8.8M | $2.9M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09184 | −0.075% | $215K | $428K | 50x | as long as short |
| Bybit HBARUSDTshort | +0.0100% | 8h | 0.09195 | +0.044% | $32.9M | $37.0M | 75x | |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09196 | +0.054% | $6.9M | $24.6M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09198 | +0.076% | $16.9M | $14.9M | 75x | as long as short |
| BingX HBAR-USDT | +0.0100% | 8h | 0.09193 | +0.022% | — | $5.8M | — | as long as short |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09178 | −0.143% | $373K | $2.1M | 10x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09191 | 0.000% | $427 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09212 | +0.228% | $72K | $53K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09189 | −0.022% | $2.2M | $2.2M | 50x | as long as short |
| BloFin HBAR-USDT | +0.0170% | 8h | 0.09185 | −0.065% | $1.5M | $5.6M | 90x | as long as short |
| Injective HBAR/USDC PERP | +0.0311% | 1h | 0.09211 | +0.218% | $1K | $84K | 12x | as long as short |
| Kraken Futures PF_HBARUSD | +0.0383% | 1h | 0.09199 | +0.089% | $1.4M | $2.4M | 50x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0445% / S −0.0366% | 1h | 0.09200 | +0.094% | $112K | — | 100x | as long as short |
| dYdX HBAR-USD | +0.2733% | 1h | 0.09192 | +0.014% | $30K | $4K | 5x | as long as short |
Coinbase International HBAR-PERP-INTX
Orderly PERP_HBAR_USDC
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDT
GRVT HBAR_USDT_Perp
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
BloFin HBAR-USDT
Injective HBAR/USDC PERP
Kraken Futures PF_HBARUSD
GMX HBAR/USD [WBTC.b-USDC]
dYdX HBAR-USD