Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%
Price spread now: Hyperliquid against Bybit−0.048%7-day average +0.050% · you buy dearer than you sell
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$410.409% of the position
Funding, last 7 days−0.080%−$8 on $10k
+Price spread, last 7 days+0.093%+$9 · spread now −0.048%, 7d avg +0.050%
=Together, before fees+0.013%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.098% cheaper against Bybit than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.050%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit OPUSDT | 0.1255 | 0.0100 | pay 0.0100% / 8h | 7h 23m | $18.3M | $26.5M | 75x |
| Short | Hyperliquid OP | 0.1255 | 0.0100 | get 0.0013% / 1h | 23m 19s | $3.5M | $3.7M | 5x |
Bybit OPUSDT
Hyperliquid OPFunding 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
- $0
- Price spread: −0.048% → +0.050%
- −$9.8
- Slippage, 4 orders
- −$20.94
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$50.74
- Costs to cover
- 0.409%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; Hyperliquid: live order book, 8 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, 5 min ago | 0.40 bp | 9.8 bp −$10 | 28.2 bp −$282 | 120.8 bp −$12.1K | doesn't fit |
| Sell Hyperliquid live order book, 8 min ago | 1.21 bp | 10.2 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
OP on 30 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 OP/USDC PERP | −0.1328% | 1h | 0.1235 | −1.633% | $34K | $63K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1164% / S +0.0246% | 1h | 0.1250 | −0.427% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDC | −0.0048% | 8h | 0.1256 | +0.040% | $12K | $234K | 10x | as long as short |
| KuCoin OPUSDTM | −0.0004% | 8h | 0.1253 | −0.199% | $2.9M | $6.1M | 75x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1247 | −0.696% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1250 | −0.438% | $31K | $163K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S +0.0001% | 1h | 0.1246 | −0.752% | $1K | — | 150x | as long as short |
| Variational Omni OP | +0.0057% | 8h | 0.1240 | −1.258% | $220K | $47K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1253 | −0.207% | $290K | $1.1M | 15x | as long as short |
| Hyperliquid OPshort | +0.0100% | 1h | 0.1255 | −0.048% | $3.5M | $3.7M | 5x |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Orderly PERP_OP_USDC
KuCoin OPUSDTM
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1254 | −0.088% | $202K | $214K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1256 | +0.044% | $19.4M | $68.8M | 75x | as long as short |
| Bybit OPUSDTlong | +0.0100% | 8h | 0.1255 | long leg | $18.3M | $26.5M | 75x | |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1256 | +0.024% | $6.0M | $29.8M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1255 | −0.064% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1255 | −0.016% | $22.3M | $7.8M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1255 | −0.040% | $5.8M | $6.9M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1256 | +0.040% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1250 | −0.422% | $112K | $223K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1244 | −0.928% | $4K | $1.1M | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1245 | −0.836% | $302K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1244 | −0.916% | $43K | $692K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1250 | −0.462% | $189 | $5K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1250 | −0.414% | $166K | $257K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1255 | −0.022% | $100K | $608K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1256 | +0.040% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0112% | 1h | 0.1244 | −0.916% | $25K | $69K | 50x | as long as short |
| Kraken Futures PF_OPUSD | +0.0155% | 1h | 0.1251 | −0.375% | $741K | $730K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1246 | −0.781% | $992K | $323K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0445% | 1h | 0.1254 | −0.083% | $698 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP