Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%
Price spread now: Backpack against Bybit+0.022%45s7-day average +0.042% · you sell dearer than you buy
Net, funding: paid 7d − costs−$60as 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−$410.408% of the position
Funding, last 7 days−0.192%−$19 on $10k
+Price spread, last 4 days (all we have)−0.024%−$2 · spread now +0.022%, 7d avg +0.042%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.021% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.042%. 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 | Bybit HBARUSDT | 0.09201 | 0.0100 | pay 0.0100% / 8h | 6h 55m | $32.6M | $35.1M | 75x |
| Short | Backpack HBAR_USDC_PERP | 0.09203 | 0.0100 | get 0.0013% / 1h | 55m 27s | $34K | $115K | 15x |
Bybit HBARUSDT
Backpack HBAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. 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
- $0
- Price spread: +0.022% → +0.042%
- −$2.07
- Slippage, 4 orders
- −$19.85
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$42.92
- Costs to cover
- 0.408%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; Backpack: live order book, 13 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, 3 min ago | 0.54 bp | 9.2 bp −$9 | 19.8 bp −$198 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 13 min ago | 1.07 bp | 9.1 bp −$9 | 639.3 bp −$6,393 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni HBARUSDT | −0.1501% | 1h | 0.09224 | +0.250% | $147K | $724K | 50x | as long as short |
| KuCoin HBARUSDTM | −0.0074% | 8h | 0.09198 | −0.033% | $7.2M | $7.4M | 75x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09202 | +0.013% | $30K | $4K | 5x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09204 | +0.032% | $8K | — | 150x | as long as short |
| Injective HBAR/USDC PERP | +0.0033% | 1h | 0.09182 | −0.206% | $1K | $106K | 12x | as long as short |
| Gate HBAR_USDT | +0.0043% | 8h | 0.09199 | −0.022% | $2.4M | $3.0M | 75x | as long as short |
| GRVT HBAR_USDT_Perp | +0.0061% | 8h | 0.09216 | +0.167% | $379K | $2.2M | 10x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0064% | 1h | 0.09211 | +0.109% | $225K | $2.1M | 50x | as long as short |
| Variational Omni HBAR | +0.0069% | 8h | 0.09196 | −0.054% | $1.0M | $186K | — | as long as short |
| Kraken Futures PF_HBARUSD | +0.0069% | 1h | 0.09208 | +0.076% | $1.4M | $2.3M | 50x | as long as short |
ApeX Omni HBARUSDT
KuCoin HBARUSDTM
dYdX HBAR-USD
gTrade (Gains Network) HBAR/USD
Injective HBAR/USDC PERP
Gate HBAR_USDT
GRVT HBAR_USDT_Perp
Coinbase International HBAR-PERP-INTX
Variational Omni HBAR
Kraken Futures PF_HBARUSDShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended HBAR-USD | +0.0072% | 1h | 0.09201 | −0.003% | $48K | $279K | 10x | as long as short |
| MEXC HBAR_USDT | +0.0072% | 8h | 0.09197 | −0.043% | $26.4M | $21.7M | 200x | as long as short |
| Binance HBARUSDT | +0.0072% | 8h | 0.09201 | 0.000% | $34.4M | $104.5M | 75x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0075% | 8h | 0.09201 | 0.000% | $2K | $17K | 10x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09196 | −0.054% | $560K | $579K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09207 | +0.063% | $8.8M | $2.7M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09211 | +0.104% | $210K | $346K | 50x | as long as short |
| Bybit HBARUSDTlong | +0.0100% | 8h | 0.09201 | long leg | $32.6M | $35.1M | 75x | |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09202 | +0.011% | $6.8M | $24.5M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09200 | −0.011% | $17.0M | $14.7M | 75x | as long as short |
| BingX HBAR-USDC | +0.0100% | 8h | 0.09202 | +0.011% | — | $6.7M | — | as long as short |
| Backpack HBAR_USDC_PERPshort | +0.0100% | 1h | 0.09203 | +0.022% | $34K | $115K | 15x | |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09204 | +0.033% | $427 | $5K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09208 | +0.076% | $73K | $61K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09204 | +0.033% | $2.1M | $2.1M | 50x | as long as short |
| BloFin HBAR-USDT | +0.0193% | 8h | 0.09219 | +0.196% | $1.5M | $5.4M | 90x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | +0.0293% | 1h | 0.09208 | +0.076% | $507K | $167K | 50x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0493% / S −0.0562% | 1h | 0.09204 | +0.034% | $116K | — | 100x | as long as short |
Extended HBAR-USD
MEXC HBAR_USDT
Binance HBARUSDT
Orderly PERP_HBAR_USDC
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDC
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
BloFin HBAR-USDT
Deribit HBAR_USDC-PERPETUAL
GMX HBAR/USD [WBTC.b-USDC]