Funding you earn now, next payment 22:00 UTC+0.0973%/8h= +106.6% APRpaid last 24h +0.110%
Price spread now: Hyperliquid against Bybit+0.293%7-day average +0.130% · you sell dearer than you buy
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$430.433% of the position
Funding, last 7 days+0.165%+$17 on $10k
+Price spread, last 7 days−0.206%−$21 · spread now +0.293%, 7d avg +0.130%
=Together, before fees−0.041%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and Hyperliquid is 0.163% dearer against Bybit than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.130%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.165% in total (about 8.6% 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 ICPUSDT | 2.9720 | −0.0043 | get 0.0043% / 8h | 2h 41m | $17.1M | $17.6M | 75x |
| Short | Hyperliquid ICP | 2.9807 | 0.0930 | get 0.0116% / 1h | 41m 04s | $4.8M | $4.9M | 5x |
Bybit ICPUSDT
Hyperliquid ICPFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $204.4
- Price spread: +0.293% → +0.130%
- $16.29
- Slippage, 4 orders
- −$23.27
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $177.43
- Costs to cover
- 0.433%
- Break-even
- 0.9 days
Slippage from Bybit: live order book, 2 min ago; Hyperliquid: live order book, 11 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, 2 min ago | 3.36 bp | 12.4 bp −$12 | 36.0 bp −$360 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.17 bp | 9.2 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
ICP on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex ICPUSDT | −0.1285% | 8h | 2.9670 | −0.168% | $1.7M | $782K | 50x | as long as short |
| Variational Omni ICP | −0.0275% | 8h | 2.9655 | −0.218% | $1.1M | $119K | — | as long as short |
| Deribit ICP_USDC-PERPETUAL | −0.0221% | 1h | 2.9741 | +0.071% | $265 | $464 | 50x | as long as short |
| Injective ICP/USDC PERP | −0.0199% | 1h | 2.9665 | −0.185% | $202 | $200K | 12x | as long as short |
| Gate ICP_USDT | −0.0125% | 8h | 2.9730 | +0.034% | $1.9M | $2.7M | 50x | as long as short |
| Bybit ICPUSDTlong | −0.0043% | 8h | 2.9720 | long leg | $17.1M | $17.6M | 75x | |
| dYdX ICP-USD | 0.0000% | 1h | 2.9759 | +0.133% | $69K | $4K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0010% | 1h | 2.9757 | +0.126% | $27K | — | 150x | as long as short |
| Lighter ICP | +0.0096% | 1h | 2.9773 | +0.178% | $166K | $442K | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 2.9756 | +0.122% | $189K | $1.5M | 20x | as long as short |
Phemex ICPUSDT
Variational Omni ICP
Deribit ICP_USDC-PERPETUAL
Injective ICP/USDC PERP
Gate ICP_USDT
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Lighter ICP
Aster ICPUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica ICP | +0.0100% | 1h | 2.9752 | +0.109% | $135K | $11K | 5x | as long as short |
| Binance ICPUSDT | +0.0100% | 8h | 2.9735 | +0.049% | $28.9M | $48.6M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 2.9720 | 0.000% | $5.8M | $15.6M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 2.9740 | +0.067% | $19.5M | $8.4M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 2.9750 | +0.101% | $5.3M | $12.8M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 2.9750 | +0.101% | $6.8M | $4.4M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 2.9730 | +0.034% | — | $4.9M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 2.9722 | +0.006% | $23K | $279K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 2.9721 | +0.002% | $570K | $481K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 2.9730 | +0.034% | $2K | $1.7M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 2.9690 | −0.101% | $106K | $218K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 2.9737 | +0.056% | $24K | $123K | 10x | as long as short |
| Kraken Futures PF_ICPUSD | +0.0148% | 1h | 2.9756 | +0.122% | $495K | $509K | 50x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 2.9740 | +0.067% | $1.2M | $2.2M | 75x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0232% | 1h | 2.9790 | +0.236% | $62K | $88K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0432% / S −0.0367% | 1h | 2.9743 | +0.078% | $31K | — | 100x | as long as short |
| Hyperliquid ICPshort | +0.0930% | 1h | 2.9807 | +0.293% | $4.8M | $4.9M | 5x |
Pacifica ICP
Binance ICPUSDT
OKX ICP-USDT-SWAP
MEXC ICP_USDT
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Extended ICP-USD
Kraken Futures PF_ICPUSD
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]